2018年第二季度苹果财报解读-上书房信息咨询

iPhone第二财季销量将达3300万部增涨近一倍蒙斯特预计，苹果第二财季营收将增长6%，达到383亿美元；每股收益将增长16%，达到11.41美元。

华尔街分析师当前平均预计，苹果第二财季营收为362亿美元，每股收益为9.86美元。

北京时间4月14日消息，据国外媒体报道，投资银行Piper Jaffray分析师吉恩·蒙斯特（Gene Munster）周五发布投资者报告，预计在截至3月底的苹果第二财季，iPhone销量将达到3300万部，iPad平板电脑销量将达到1200万部。

蒙斯特预计，苹果第二财季iPhone销量将达到3300万部，高于上年同期的1865万部，高于市场平均预期的3050万部。

不过蒙斯特同时预计，iPad销量将达到1200万部，低于华尔街此前平均预计的1300万部。

蒙斯特还预计，Mac第二财季的销量将达到430万台，略低于市场分析师平均预计的440万台。

蒙斯特预计，苹果第二财季营收将增长6%，达到383亿美元；每股收益将增长16%，达到11.41美元。

华尔街分析师当前平均预计，苹果第二财季营收为362亿美元，每股收益为9.86美元。

蒙斯特表示，虽然苹果第二财季iPhone销量高于上年同期，但却要低于上一财季3700万部的销量。

穆思特并未解释其中的原因，但第一财季iPhone销量的提升很可能是受到了iPhone 4S发布和圣诞购物季的拉动。

蒙斯特认为，苹果业绩的下一个主推动力，将是第六代iPhone手机在今年的发布。

该分析师还认为，苹果将会在今年第四季度发布苹果电视机，并在2013年开始销售这款产品。

此外，蒙斯特预测苹果第二财季iPad的全球销量达到了1200万部，虽然不及市场平均预期，但去年同期苹果该产品的销量仅为469万部。

蒙斯特认为，许多投资人都不会介意与此，因为新iPad初期销量非常出色。

在新iPad上市的前三天，该产品的销量达到了300万台。

蒙斯特在报告中重申苹果股票“增持”评级，并将未来12个月目标股价定为910美元。

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 6-KREPORT OF FOREIGN PRIVATE ISSUERPURSUANT TO RULE 13a-16 OR 15d-16 OF THESECURITIES EXCHANGE ACT OF 1934For the month of August 2018Commission File Number: 000-30666NETEASE, INC.Building No. 7, West ZoneZhongguancun Software Park (Phase II)No.10 Xibeiwang East Road, Haidian District,Beijing 100193, People’s Republic of China(Address of principal executive offices)Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.Form 20-F x Form 40-F oIndicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): oNETEASE, INC.Form 6-KTABLE OF CONTENTSSignature Page 3Notice of 2018 Annual General Meeting of Shareholders Exhibit 99.1 Proxy Statement for 2018 Annual General Meeting Exhibit 99.2 Form of Proxy Card for Holders of Ordinary Shares Exhibit 99.3 Form of Voting Instruction Card to the Bank of New York Mellon for Holders of American Depositary Shares Exhibit 99.42SIGNATURESPursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.NETEASE, INC.By:/s/ Zhaoxuan YangName:Zhaoxuan YangTitle:Chief Financial OfficerDate:August 10, 20183Exhibit 99.1NetEase, Inc.Building No. 7, West Zone,Zhongguancun Software Park (Phase II),No. 10 Xibeiwang East Road, Haidian DistrictBeijing, People’s Republic of China 100193NOTICE OF 2018 ANNUAL GENERAL MEETING OF SHAREHOLDERSTO BE HELD ON SEPTEMBER 7, 2018Important Notice Regarding the Availability of Proxy Materials for the 2018 AnnualGeneral Meeting of Shareholders to be Held on September 7, 2018This Notice is to inform you that the NetEase, Inc. 2018 Annual General Meeting of Shareholders is being held on September 7, 2018 and the proxy materials for such meeting are available on the internet. Follow the instructions below to view the proxy materials and vote or, in the case of holders of American depositary shares (“ADSs”), submit your voting instructions to The Bank of New York Mellon, as depositary, or request a paper or email copy. The items to be voted on and location of the 2018 Annual General Meeting of Shareholders are also set out below.This communication presents only an overview of the more complete proxy materials that are available to you on the internet. We encourage you to access and review all of the important information contained in the proxy materials before voting or, in the case of holders of ADSs, submitting your voting instructions to The Bank of New York Mellon, as depositary.The proxy statement and 2017 annual report on Form 20-F are available at .If you want to receive a paper or email copy of these documents, you must request one. There is no charge to you for requesting a copy. Please make your request for a copy as instructed below at the earliest opportunity to facilitate timely delivery.1NOTICE IS HEREBY GIVEN that the 2018 annual general meeting of shareholders of NetEase, Inc. (the “2018 Annual General Meeting of Shareholders”) will be held on September 7, 2018 at 10:00 a.m., Beijing time, at our offices located at NetEase Building, No. 599 Wangshang Road, Binjiang District, Hangzhou, Zhejiang Province, People’s Republic of China 310052, for the following purposes:1.To re-elect seven directors to serve for the ensuing year and until their successors are elected and duly qualified, or until such directors’ earlier death,bankruptcy, insanity, resignation or removal.2.To ratify the appointment of PricewaterhouseCoopers Zhong Tian LLP as independent auditors of NetEase, Inc. for the fiscal year endingDecember 31, 2018.3.To transact such other business as may properly come before the 2018 Annual General Meeting of Shareholders or any adjournment orpostponement thereof.The foregoing items of business are more fully described in the proxy statement. You may access the following proxy materials at :1.Proxy statement, and2.2017 annual report on Form 20-F for the year ended December 31, 2017.Holders of Ordinary SharesYou should vote by either attending the meeting in person or by mailing the attached Proxy Card to us as instructed therein.If you prefer a paper or email copy of the proxy materials, you may request one by calling the IR Department, at +86 571 8985 2955. Please make sure you request a copy at the earliest opportunity to facilitate timely delivery. There is no charge to you for requesting a copy. You will have the opportunity to make a request to (1) receive paper copies for all future meetings or only for the 2018 Annual General Meeting of Shareholders or (2) receive email copies for all future meetings or only for the 2018 Annual General Meeting of Shareholders.Holders of American Depositary SharesThe Bank of New York Mellon, as depositary of the ADSs, has advised us that it intends to mail to all holders of ADSs this Notice and an ADS Voting Instruction Card. Upon the delivery of a signed and completed ADS Voting Instruction Card as instructed therein, The Bank of New York Mellon will endeavor, to the extent practicable, to vote or cause to be voted the amount of ordinary shares represented by the ADSs, evidenced by American depositary receipts related to those ADSs, in accordance with the instructions set forth in such request. The Bank of New York Mellon has advised us that it will not vote or attempt to exercise the right to vote other than in accordance with those instructions. As the holder of record for all the ordinary shares represented by the ADSs, only The Bank of New York Mellon may vote those ordinary shares at the 2018 Annual General Meeting of Shareholders. Holders of ADSs may attend, but may not vote at, such meeting.The Bank of New York Mellon and its agents are not responsible if they fail to carry out your voting instructions or for the manner in which they carry out your voting instructions. This means that if the ordinary shares underlying your ADSs are not able to be voted at the 2018 Annual General Meeting of Shareholders, there may be nothing you can do.2If (1) the enclosed ADS Voting Instruction Card is signed but is missing voting instructions, (2) the enclosed ADS Voting Instruction Card is improperly completed or (3) no ADS Voting Instruction Card is received by The Bank of New York Mellon from a holder of ADSs prior to 5:00 p.m., New York Time on September 5, 2018, The Bank of New York Mellon will deem such holder of ADSs to have instructed it to give a proxy to the chairman of the 2018 Annual General Meeting of Shareholders to vote in favor of each proposal recommended by our board of directors and against each proposal opposed by our board of directors.If you prefer a paper or email copy of the proxy materials, you may request one by calling the IR Department, at +86 571 8985 2955. Please make sure you request a copy at the earliest opportunity to facilitate timely delivery. There is no charge to you for requesting a copy. You will have the opportunity to make a request to (1) receive paper copies for all future meetings or only for the 2018 Annual General Meeting of Shareholders or (2) receive email copies for all future meetings or only for the 2018 Annual General Meeting of Shareholders.Holders of record of our ordinary shares or ADSs representing those ordinary shares at the close of business on July 31, 2018 are entitled to vote at the 2018 Annual General Meeting of Shareholders and any adjournment or postponement thereof, and are encouraged and cordially invited to attend the 2018 Annual General Meeting of Shareholders. Directions to attend the meeting can be found at .FOR THE BOARD OF DIRECTORSWilliam Lei DingMember of the Board of Directorsand Chief Executive Officer Beijing, ChinaAugust 10, 2018YOUR VOTE IS IMPORTANT3Exhibit 99.2NetEase, Inc.Building No. 7, West Zone,Zhongguancun Software Park (Phase II),No. 10 Xibeiwang East Road, Haidian DistrictBeijing, People’s Republic of China 1001932018 ANNUAL GENERAL MEETING OF SHAREHOLDERSTO BE HELD ON SEPTEMBER 7, 2018PROXY STATEMENTGeneralWe are soliciting proxies on behalf of our board of directors for use at the annual general meeting of shareholders to be held on September 7, 2018 at 10:00 a.m., Beijing time, or at any adjournment or postponement thereof. The annual general meeting will be held at our offices located at NetEase Building, No. 599 Wangshang Road, Binjiang District, Hangzhou, Zhejiang Province, People’s Republic of China 310052.This proxy statement is available to shareholders beginning on August 10, 2018 and the form of proxy is first being mailed to shareholders on or about August 13, 2018.Revocability of ProxiesAny proxy given by a holder of ordinary shares pursuant to this solicitation may be revoked by the person giving it at any time before its use by delivering a written notice of revocation or a duly executed proxy bearing a later date or by attending the annual general meeting and voting in person. Attendance at the annual general meeting in and of itself does not revoke a prior proxy. A written notice of revocation must be delivered to the attention of Mr. Zhaoxuan Yang, our Chief Financial Officer.A holder of our American depositary shares, known as ADSs, representing our ordinary shares, may revoke a previously delivered ADS Voting Instruction Card by delivery a written notice of revocation or a duly executed ADS Voting Instruction Card bearing a later date to The Bank of New York Mellon prior to 5:00 p.m., New York Time, on September 5, 2018.Record Date, Share Ownership and QuorumShareholders of record at the close of business on July 31, 2018 are entitled to vote at the annual general meeting. Our ordinary shares underlying ADSs are included for purposes of this determination. As of July 31, 2018, 3,236,313,156 of our ordinary shares, par value US$0.0001 per share, were outstanding, of which approximately 1,830,312,890 were represented by ADSs. The presence of at least two ordinary shareholders in person or by proxy will constitute a quorum for the transaction of business at the annual general meeting; provided, however, that in no case shall such quorum represent less than 33 1/3% of our outstanding ordinary shares.Voting and SolicitationEach share outstanding on the record date is entitled to one vote. Voting by holders of ordinary shares at the annual general meeting will be by a show of hands unless the chairman of the meeting or any shareholder present in person or by proxy demands that a poll be taken. Holders of ADSs cannot vote at such meeting.1The costs of soliciting proxies will be borne by our company. Proxies may be solicited by certain of our directors, officers and regular employees, without additional compensation, in person or by telephone or electronic mail. The solicitation materials are available on our company’s website at. Hard copies of the solicitation materials are available upon request to shareholders free of charge.Voting by Holders of Ordinary SharesWhen proxies are properly dated, executed and returned by holders of ordinary shares, the shares they represent will be voted at the annual general meeting in accordance with the instructions of the shareholder. If no specific instructions are given by such holders, the shares will be voted “FOR” proposals 1 and 2 and in the proxy holder’s discretion as to other matters that may properly come before the annual general meeting. Abstentions by holders of ordinary shares are included in the determination of the number of shares present and voting but are not counted as votes for or against a proposal. Broker non-votes will not be counted towards a quorum or for any purpose in determining whether the proposal is approved.Voting by Holders of American Depositary SharesThe Bank of New York Mellon, as depositary of the ADSs, has advised us that it intends to mail to all owners of ADSs the Notice of 2018 Annual General Meeting of Shareholders and an ADS Voting Instruction Card. Upon the delivery of a signed and completed ADS Voting Instruction Card as instructed therein, The Bank of New York Mellon will endeavor, to the extent practicable, to vote or cause to be voted the amount of ordinary shares represented by the ADSs, evidenced by American depositary receipts related to those ADSs, in accordance with the instructions set forth in such request. The Bank of New York Mellon has advised us that it will not vote or attempt to exercise the right to vote other than in accordance with those instructions. As the holder of record for all the shares represented by the ADSs, only The Bank of New York Mellon may vote those shares at the annual general meeting.The Bank of New York Mellon and its agents are not responsible if they fail to carry out your voting instructions or for the manner in which they carry out your voting instructions. This means that if the ordinary shares underlying your ADSs are not able to be voted at the annual general meeting, there may be nothing you can do.If (i) the enclosed ADS Voting Instruction Card is signed but is missing voting instructions, (ii) the enclosed ADS Voting Instruction Card is improperly completed or (iii) no ADS Voting Instruction Card is received by The Bank of New York Mellon from a holder of ADSs prior to 5:00 p.m., New York Time, on September 5, 2018, The Bank of New York Mellon will deem such holder of ADSs to have instructed it to give a proxy to the chairman of the annual general meeting to vote in favor of each proposal recommended by our board of directors and against each proposal opposed by our board of directors.Deadline for Shareholder ProposalsProposals which our shareholders wish to be considered for inclusion in our proxy statement and proxy card for the 2019 annual general meeting must be received by March 31, 2019 at NetEase Building, No. 599 Wangshang Road, Binjiang District, Hangzhou, Zhejiang Province, People’s Republic of China 310052. The submission of a proposal does not assure that it will be included in the proxy statement or the proxy card.2PROPOSAL 1ELECTION OF DIRECTORSThe board of directors has nominated all of our seven current directors for re-election at the 2018 annual general meeting. Each director to be elected will hold office until the next annual general meeting of shareholders and until such director’s successor is elected and is duly qualified, or until such director’s earlier death, bankruptcy, insanity, resignation or removal. All of the nominees have been previously elected by our shareholders. Our Articles of Association presently authorize up to ten board positions. Proxies cannot, however, be voted for a greater number of persons than the number of nominees named in this proxy statement.Shares represented by executed proxies will be voted, if authority to do so is not withheld, for the election of the seven nominees named below. The board has no reason to believe that any of the nominees named below will be unable or unwilling to serve as a director if elected. In the event that any nominee should be unavailable for election as a result of an unexpected occurrence, such shares will be voted for the election of such substitute nominee as management may propose.The names of the nominees, their ages as of April 1, 2018 and the principal positions with NetEase held by them are as follows:Name Age PositionWilliam Lei Ding46Director and Chief Executive OfficerAlice Cheng (1)56DirectorDenny Lee50DirectorJoseph Tong (1)55DirectorLun Feng58DirectorMichael Leung (1)64DirectorMichael Tong46Director(1) Member of the audit, compensation and nominating committees.Directors Nominated for Election at the Annual General MeetingWilliam Lei Ding, our founder, has served as a director since July 1999 and as our Chief Executive Officer since November 2005. From March 2001 until November 2005, Mr. Ding served as our Chief Architect, and, from June 2001 until September 2001, he served as our Acting Chief Executive Officer and Acting Chief Operating Officer. Mr. Ding stepped down as Chairman of the board of directors in September 2001 (we currently have no permanently appointed Chairman). From July 1999 until March 2001, Mr. Ding served as Co-Chief Technology Officer, and from July 1999 until April 2000, he also served as our interim Chief Executive Officer. Mr. Ding established Guangzhou NetEase and Shanghai EaseNet, our affiliates, in May 1997 andJanuary 2008. Mr. Ding holds a Bachelor of Science degree in Communication Technology from the University of Electronic Science and Technology of China.3Alice Cheng has served as a director since June 2007. Ms. Cheng has been the Chief Financial Officer of BBK Electronics Corp., Ltd., a PRC-based manufacturer of audio/visual equipment, since May 2005. From October 2010 to April 2013, she served as a supervisor of Wistron Information Technology Corporation in Taiwan, an information technology company with operations in Taiwan, China and Japan. From January 2002 to April 2005, she served as Financial Controller of Wistron Corporation, a Taiwanese original design manufacturer of notebook computers and other electronics. Prior to that, she held various positions with Acer Inc., a Taiwanese computer manufacturer, culminating in the position of Financial Controller. Ms. Cheng received a Bachelor of Accounting from the Chinese Culture University in Taiwan in 1983 and a Masters of Business Administration from the Thunderbird School of Global Management in Arizona in 2003. She is licensed as a certified public accountant in Taiwan and the PRC.Denny Lee has served as a director since April 2002. Mr. Lee previously served as our Chief Financial Officer from April 2002 until June 2007 and as our Financial Controller from November 2001 until April 2002. Prior to joining our company, Mr. Lee worked in the Hong Kong office of KPMG for more than ten years. Mr. Lee graduated from the Hong Kong Polytechnic University majoring in accounting and is a member of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants. Mr. Lee currently serves as the chairman of the audit committees and an independent non-executive director on the boards of New Oriental Education & Technology Group Inc. and Concord Medical Services Holdings Limited, which are listed on the New York Stock Exchange, and an independent non-executive director on the board of China Metal Resources Utilization Ltd., which is listed on the Hong Kong Stock Exchange. Mr. Lee served as the chairman of the audit committee and an independent non-executive director on the board of Qunar Cayman Islands Limited, which was previously listed on the Nasdaq Global Market, from June 2012 to January 2016.Joseph Tong has served as a director since March 2003. He has been a director of Parworld Investment Management Limited, which provides financial and investment advisory services, since April 2004. From December 2002 until April 2004, Mr. Tong was engaged in establishing offices and operations in Hong Kong and China, setting up accounting and internal control policies and overseeing the overall operations for TLM Apparel Co., Ltd., a garment trading company operating in Hong Kong and China which he co-founded. Prior to that, from September 2000 to September 2002, he was the e-Commerce Director of the Asia Region for Universal Music Limited where he was responsible for forming e-business development strategies and overseeing new promotional opportunities. Mr. Tong currently serves as the chairman of the audit committee and an independent director on the board of Crosby Capital Limited, which is listed on the Hong Kong Stock Exchange. Mr. Tong received a Bachelor of Social Science degree with honors in Accounting and Statistics from the University of Southampton, England. He is a member of the American Institute of Certified Public Accountants and an associate member of the Hong Kong Institute of Certified Public Accountants.4Lun Feng has served as a director since July 2005. He has been the Chairman of Vantone Holdings Co., Ltd., a private real estate investment company in China, since 1993. Mr. Feng has a Juris Doctor from the Chinese Academy of Social Sciences, a Masters of Law degree from the Party School of the Chinese Communist Party and a Bachelor of Arts in Economics from Northwest University.Michael Leung has served as a director since July 2002. Mr. Leung held senior positions with Peregrine Capital (China) Limited, SG Securities (HK) Limited (previously known as Crosby Securities (Hong Kong) Limited), Swiss Bank Corporation, Hong Kong Branch, and Optima Capital Limited (previously known as Ke Capital (Hong Kong) Limited) where he provided financial advisory services. Mr. Leung was also a director at Emerging Markets Partnership (Hong Kong) Limited, which was the principal advisor to the AIG Asian Infrastructure Fund L.P, and an independent non-executive director of Anhui Expressway Company Limited and Junefield Department Store Group Limited, both of which are companies listed on the Stock Exchange of Hong Kong Limited. Mr. Leung currently serves as an independent non-executive director for China Ting Group Holdings Limited, Orange Sky Golden Harvest Entertainment (Holdings) Limited, China Huiyuan Juice Group Limited, Optics Valley Union Holding Company Limited and Luye Pharma Group Ltd. and as an executive director of Chanceton Financial Group Limited, all of which are companies listed on the Stock Exchange of Hong Kong Limited. Mr. Leung is also the responsible officer of Chanceton Capital Partners Limited, which provides advice on corporate finance. Mr. Leung received a Bachelor’s Degree in Social Sciences from the University of Hong Kong with a major in accounting, management and statistics.Michael Tong has served as a director of our company since December 1999. He joined our company as an executive in May 2003 and later served as our Co-Chief Operating Officer from July 2004 to March 2009. Before joining our company as an executive, Mr. Tong had approximately seven years of experience in the investment industry working in several venture capital and private equity firms, including Techpacific Venture Capital Limited, Softbank China Venture Investments Limited and Nomura China Venture Investment Limited. Mr. Tong also served as a director for , a Chinese travel website, from October 2007 to June 2011. Mr. Tong graduated with a Bachelor of Business Administration from the University of Wisconsin, Madison with a major in Accounting and an extra concentration in Computer Science in 1993.The directors will be elected by a majority of the votes present in person or represented by proxy and entitled to vote. In electing directors, each shareholder may cast one vote per share owned for each director to be elected; shareholders cannot use cumulative voting.THE BOARD OF DIRECTORS RECOMMENDS A VOTE FORTHE ELECTION OF EACH OF THE NOMINEES NAMED ABOVE.5PROPOSAL 2RATIFICATION OF INDEPENDENT AUDITORSOur audit committee recommends, and our board concurs, that PricewaterhouseCoopers Zhong Tian LLP (“PWC”) be appointed as our independent auditors for the year ending December 31, 2018. Our board of directors first appointed PWC as our independent auditors in July 2002.In the event our shareholders fail to ratify the appointment, our audit committee will reconsider its selection. Even if the selection is ratified, our audit committee in its discretion may direct the appointment of a different independent auditing firm at any time during the year if the audit committee believes that such a change would be in the best interests of our company and shareholders.A representative of PWC is expected to be present at the annual general meeting, will have the opportunity to make a statement if he or she desires to do so, and will be available to respond to appropriate questions.The affirmative vote of the holders of a majority of the shares present in person or represented by proxy and voting at the annual general meeting will be required to approve this proposal 2.THE BOARD AND THE AUDIT COMMITTEE RECOMMEND A VOTE FORRATIFICATION OF THE APPOINTMENT OFPRICEWATERHOUSECOOPERS ZHONG TIAN LLPAS OUR INDEPENDENT AUDITORSFOR THE YEAR ENDING DECEMBER 31, 2018.AUDIT COMMITTEE PRE-APPROVAL POLICIES AND PROCEDURESOur audit committee has adopted procedures which set forth the manner in which the audit committee will review and approve all audit and non-audit services to be provided by PWC before that firm is retained for such services. The pre-approval procedures are as follows:·Any audit or non-audit service to be provided to us by the independent accountant must be submitted to the audit committee for review and approval, with a description of the services to be performed and the fees to be charged.·The audit committee in its sole discretion then approves or disapproves the proposed services and documents such approval, if given, through the execution of an engagement letter for the services by a member of the audit committee.6SHAREHOLDER COMMUNICATIONS WITHTHE BOARD OF DIRECTORSThe following procedures have been established by our board of directors in order to facilitate communications between our shareholders and our board of directors:1)Shareholders may send correspondence, which should indicate that the sender is a shareholder, to our board of directors or to any individual directorby mail to NetEase Building, No. 599 Wangshang Road, Binjiang District, Hangzhou, Zhejiang Province, People’s Republic of China 310052, Attention: Chief Financial Officer.2)Our Chief Financial Officer will be responsible for the first review and logging of this correspondence and will forward the communication to thedirector or directors to whom it is addressed unless it is a type of correspondence which our board has identified as correspondence which may be retained in our files and not sent to directors.Our board of directors has authorized the Chief Financial Officer to retain and not send to directors communications that: (a) are advertising or promotional in nature (offering goods or services), (b) solely relate to complaints by clients with respect to ordinary course of business customer service and satisfaction issues, or (c) clearly are unrelated to our business, industry, management or board or committee matters. These types of communications will be logged and filed but not circulated to directors. Except as set forth in the preceding sentence, the Chief Financial Officer will not screen communications sent to directors.3)The log of shareholder correspondence will be available to members of our board for inspection. At least once each year, the Chief Financial Officerwill provide to our board a summary of the communications received from shareholders, including the communications not sent to directors in accordance with screening procedures approved by our board.ACCESS TO CORPORATE GOVERNANCE POLICIESWe adopted a Code of Business Conduct which is available on our company’s website . To the extent required by law, any amendments to, or waivers from, any provision of the Code of Business Conduct will be promptly disclosed to the public.Copies of our company’s committee charters and Code of Business Conduct will be provided to any shareholder upon written request to the Chief Financial Officer of NetEase, Inc. at NetEase Building, No. 599 Wangshang Road, Binjiang District, Hangzhou, Zhejiang Province, People’s Republic of China 310052.ANNUAL REPORT TO SHAREHOLDERSPursuant to NASDAQ’s Marketplace Rules which permit companies to make available their annual report to shareholders on or through the company’s website, we post our annual reports on our website. Our annual reports are also filed with the U.S. Securities and Exchange Commission. You may obtain a copy of our 2017 annual report by visiting our website . If you want to receive a paper or email copy of our 2017 annual report, you must request one. There is no charge to you for requesting a copy. Please make your request for a copy by calling +86 571 8985 2955.7。

龙源期刊网
苹果公布2018年Q1财报
作者：
来源：《中国电子报》2018年第10期
本报讯2月2日凌晨，苹果发布了截至2017年12月30日的2018财年第一季度财报。

财报显示，iPhone的销量尽管较上年同期有所下降，但苹果在2018年第一季度的营收为882.93亿美元，较去年同期增长了13%；利润为200.65亿美元，较去年同期增长了12%，营收和利润同时创下历史上最高纪录。

从各业务的营收占比来看，iPhone的营收依然占大头，高达70%。

然而，苹果第一季度的iPhone销量并没有达到预期，但平均销售价格却超出预期，推动其股价在盘后交易中上涨逾2%。

iPhone在2018年第一季度的销售量为7731.6万部，较2017年同期的7829万部下降1%，营收为615.76亿美元，较2017年同期的543.78亿美元增长了13%。

iPhone的平均价格之所以超出预期，主要是高定价的iPhone x的销量比iPhone 8系列强势。

对于截至今年3月底的第二财季，苹果预计营收将在600亿美元至620亿美元之间，低于市场预期，加剧了消费者对新款iPhone需求进入平台期的担忧。

目录手把手教你读财报:前言 (1)财报阅读快速入门 (3)财报阅读快速入门—续篇 (7)财报阅读快速入门-续2 (10)手把手教你读财报02 (14)手把手教你读财报03： (18)手把手教你读财报04： (22)手把手教你读财报05： (25)手把手教你读财报06 (30)手把手教你读财报07： (33)手把手教你读财报08 (35)手把手教你读财报:前言十来天前，有位朋友跟老唐诉苦：“我看了几本财务报表的书了，看的时候都明白，可是为何自己独立看财报，还是看不明白？有没有以实际财报为案例，教人怎么分析的教程或者书之类的？好想有一天能像各位大神一样牛X呀！”这段话触动了老唐。

回想自己学习之初，也是一看就懂，一学就会，一用就懵。

也没遇见过哪本书，是用真实完整的年报，指导新手如何阅读年报，如何从年报中挖掘经营管理数据的。

干脆，老唐就从这个角度，选择一份真实年报，完整的谈一遍如何阅读一份年报，如何从年报中挖掘自己需要的经营数据。

老唐来做这个事儿，自觉优势有三，劣势有四。

先说优势：1）虽然所知有限，但自认善于把自己理解的东西，转换成简单易懂的话描述出来；2）脸皮厚，不介意暴露自己无知和错谬。

被高手们指出无知和错谬，老唐将其视作码字的重大收获；3）闲且有意愿。

老唐闲人一个，大把时间，且笃信「不把思想写下来，不会清楚自己想的是什么」，愿意将双手放在键盘上，尝试着敲出些什么来。

再说劣势：1）老唐关注的公司本就不多，尤其是偏爱经营模式简单的公司。

因而涉猎的财报，多数简单，可能会因知识面问题，忽略很多内容；2）老唐读书很杂，也没有良好的笔记习惯。

看懂了什么，会转换成自己能理解的语言，记在头脑中或随手写在某处。

因而，自己写的文章里，有很多内容，老唐无法给出标准说法或者出处，还请看官体谅；3）老唐闲云野鹤多年，做事但凭兴趣，因而不敢保证本系列会有始有终。

万一哪天没了兴趣，半途而废，还望各位海涵。

如果想骂人，烦请不要在老唐帖子下面骂。

Baidu Announces Second Quarter 2018 ResultsBEIJING, China, July 31, 2018 –Baidu, Inc. (NASDAQ: BIDU) (“Baidu” or the “Company”), the leading Chinese language Internet search provider, today announced its unaudited financial results for the second quarter ended June 30, 20181.“We had another strong quarter in Q2 with search exhibiting robust revenue growth driven by AI-powered monetization capabilities and Baidu feed continuing strong traffic and monetization momentum," said Robin Li, Chairman and CEO of Baidu. "On DuerOS, we are excited about the newly launched Xiaodu series speakers and the adoption of DuerOS, which handled over 400 million queries in June 2018, almost doubling the workload again over a three-month span. On Apollo, we worked with King Long Motor and Neolix Technology to launch two fully autonomous L4 vehicles. These strong results are testament of our ability to focus and execute on our strategy to solidify Baidu’s mobile foundation and lead in AI.""Baidu delivered a solid second quarter with revenues growing 32%2year over year to RMB 26.0 billion and non-GAAP operating profit growing 31% to RMB 6.5 billion," said Herman Yu, CFO of Baidu. "We continue to increase our investments in AI-powered businesses with strong synergies and divest from non-core businesses. This has resulted in an acceleration of our revenue growth and allowed us to redeploy capital raised fromnon-core business divestures to create long-term shareholder value and increase return on capital.”Second Quarter 2018 Financial Highlights∙Total revenues were RMB 26.0 billion ($3.93 billion), increasing 32% year over year. Mobile revenue represented 77% of total net revenues, compared to 72% for the second quarter of 2017. Total revenues of Baidu Core were RMB 20.0 billion ($3.03 billion), increasing 28% year over year.∙Operating income was RMB 5.4 billion ($819 million), increasing 29% year over year. Operating margin was 21%, similar to the second quarter of 2017.∙Non-GAAP operating income was RMB 6.5 billion ($988 million), increasing 31% year over year.Non-GAAP operating margin reached 25%, similar to the second quarter of 2017. Non-GAAP operating income of Baidu Core, excluding iQIYI, was RMB 7.8 billion ($1.17 billion), increasing 32% year over year. Non-GAAP operating margin of Baidu Core, excluding iQIYI, was 39%, compared to 38% for the second quarter of 2017.1This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.6171 to US$1.00, the effective noon buying rate as of June 29, 2018, in The City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York.2Starting from January 1, 2018, Baidu adopted a new revenue accounting standard (ASC 606), which reclassifies value added tax from the cost of revenues to net against revenues. To increase comparability of operating results and help investors better understand our business performance and operating trends, 2017 net revenues have been used to calculate all percentage changes in revenues, percentage changes in revenues per online marketing customer, operating margin, non-GAAP operating margin, and adjusted EBITDA margin. 2017 net revenues are defined as gross revenues under legacy GAAP after the deduction of value added taxes, which is presented on the same basis as 2018 and going forward.∙Net income attributable to Baidu was RMB 6.4 billion ($967 million), and diluted earnings attributable to Baidu per ADS was RMB 18 ($2.74). Non-GAAP net income attributable to Baidu3was RMB 7.4 billion ($1.12 billion) and non-GAAP diluted earnings per ADS4was RMB 21 ($3.18).∙Adjusted EBITDA was RMB 7.4 billion ($1.12 billion), or 29% of total revenues.Other HighlightsCorporate∙At Baidu Create, Baidu’s AI developer conference, which was attended by over 7,300 developers and partners from around the world earlier this month in Beijing, Baidu announced the release of Baidu Brain v3.0 and a host of other releases, as well as plans to develop Kunlun, a high performance AI chip for cloud to edge scenarios, including data centers, public clouds and autonomous vehicles.∙Baidu and China Mobile formed a strategic partnership to cooperate in AI, big data and 5G, and agreed to jointly explore opportunities in autonomous driving and Internet of Things (IoT) at home.∙Forbes magazine named Baidu as one of the “50 Most Innovative Companies,” recognizing Baidu’s DuerOS and Apollo AI open platforms for their leadership and innovation in conversational AI andautonomous driving in its China edition. iQIYI was also recognized for its leadership and innovation in online entertainment in China.∙Baidu announced a $1 billion share repurchase program (“2018 Share Repurchase Program”) in June 2018, which is effective for 12 months. From the announcement of the program to date, the Company has given back to its shareholders approximately $186.8 million under the 2018 Share Repurchase Program.Search and Feed∙Baidu App, which offers search and personalized news feed, continues to see robust growth, reaching 148 million daily active users in June 2018, up 17% from the same period last year.∙At Baidu Create, Baidu announced the launch of its smart mini program, which allows mobile apps in the form of a mini program to directly provide users with a seamless native-app experience through the Baidu App and other major apps in its network, bypassing the additional step of an app download.∙People's Daily, a major state-owned news platform in China, joined Baijiahao (“BJH”), Baidu feed’s c ontent network, contributing over 2,000 media sources, representing approximately 38,000 BJH accounts.∙Baidu upgraded its AI-powered ad monitoring system, which can now remove bad ads at a rate of up to 4,500 ads per minute.∙Baidu received the 2018 Entrepreneurship, Creativity & Innovation Award, which recognized Coca Cola’s augmented reality marketing campaign on Baidu for its creative integration of data, technology andmarketing.3Non-GAAP net income attributable to Baidu represents net income attributable to Baidu excluding share-based compensation expenses, the gain or loss associated with the issuance of the shares by our equity method investees at a price higher or lower than our carrying value per share, disposal gain or loss, impairment of long-term investments and fair value change of long-term investments, as adjusted for the tax effects on non-GAAP adjustments.4Non-GAAP diluted earnings per ADS represents diluted earnings per ADS calculated based on non-GAAP net income attributable to Baidu.DuerOS∙Baidu released DuerOS v3.0, which features an improved interactive user experience, enriched content ecosystem and upgraded turn-key solutions for the DuerOS Intelligent Device Platform. DuerOS v3.0 supports new capabilities, including voiceprint recognition, children mode, continuous conversation without wake words (“Geek Mode”), video recognition and more, and added new content partners, includingDiscovery, VIPKID online education and Kaishu Storytelling.∙DuerOS installed base reached 90 million devices and voice queries surpassed 400 million in June 2018.∙In June 2018, Baidu launched DuerOS-powered Xiaodu Smart Speaker, which sold out 10,000 units within90 seconds of its first two online sales, continuing its popular Xiaodu series speaker.∙DuerOS entered the hospitality industry with Xiaodu Smart Speakers by partnering with InterContinental Hotels Group (IHG) to bring about AI smart hotel rooms into China, which allow customers to control their room and ask for hotel information using Baidu’s conversational AI.∙Baidu formed strategic cooperation with over 20 global and domestic auto OEMs, including the BMW Group, Daimler AG, Ford Motor, Hyundai, KIA, Chery, BAIC, the FAW Group and Byton, to provide DuerOS for auto solutions, encompassing entertainment, internet services and safety features, using Baidu’s conversational AI, facial recognition, augmented reality navigation and other AI capabilities.Apollo∙King Long Motor launched Apolong, China’s first fully autonomous L4 minibus, powered by Apollo.V olume production of 100 units was reached on July 4, 2018.∙Neolix Technology launched an L4 micro-car for cargo delivery powered by Apollo, Baidu’s autonomous driving platform.∙Baidu released Apollo v3.0, which supports volume production for L4 minibuses (fully autonomous shuttle buses without steering wheel) and L4 microcars (fully autonomous goods delivery vehicles), addsautonomous L3 valet parking, and significantly shortens autonomous vehicle development lead time.∙Apollo has garnered 119 OEM, Tier 1 parts supplier and other partners, adding recently Jaguar Land Rover, Byton, Valeo, ADI, Flextronics, Suning, Lionbridge and others.∙Baidu signed a memorandum of understanding with Daimler AG to expand the companies’ partnership through the Apollo autonomous driving platform and integrate Baidu’s vehicle connectivity servi ces into Mercedes-Benz’s infotainment system MBUX. In July 2018, Daimler became the first global OEM t o receive an autonomous driving license in Beijing using a vehicle powered by Apollo L4 technology.∙Baidu formed a partnership with BMW Group to develop vehicle connectivity services and collaborate on autonomous driving and smart transport. BMW Group has also joined Apollo as a board member.∙Baidu released the Apollo Pilot Safety Report, China's first safety report on autonomous driving for volume production, which serves to help define the safety framework for the industry.AI Technology∙Baidu released Baidu Brain v3.0, which features multi-modal deep semantic understanding to enable world-class conversational AI in Chinese, along with a full stack of over 110 AI capabilities. At Baidu Create, Baidu also released three advanced, easy-to-use tool kits—EasyDL, AutoDL and AI Studio—for developers to work with PaddlePaddle to build and train deep learning models at scale. PaddlePaddle isBaidu’s open-sourced deep learning platform made available to developers and businesses to implement their AI ideas.Baidu received top awards from prestigious AI competitions, including 2018 WebVision Challenge (image recognition competition) and 2018 ActivityNet Challenge (video recognition competition).Second Quarter 2018 ResultsTotal revenues reached RMB 26.0 billion ($3.93 billion), representing a 32% increase year over year.Online marketing revenues were RMB 21.1 billion ($3.18 billion), representing a 25% increase year over year. Baidu had approximately 511,000 active online marketing customers5, representing a 9% increase year over year. Revenue per online marketing customer was approximately RMB 41,200 ($6,200), a 16% increase year over year.Other revenues reached RMB 4.9 billion ($742 million), representing a 75% year over year, which was mainly due to the robust growth in iQIYI membership and other businesses.Revenue from Baidu Core6reached RMB 20.0 billion ($3.03 billion), up 28% year over year, while revenue from iQIYI reached RMB 6.2 billion ($932 million), up 51% year over year.Content costs were RMB 5.2 billion ($788 million), representing a 68% increase year over year. Theyear-over-year increase was mainly due to iQIYI’s increased content cos ts and, to a lesser extent, increased investment in BJH, Baidu feeds’ content network.Traffic acquisition cost was RMB 2.7 billion ($408 million), representing a 9% increase year over year.Bandwidth costs were RMB 1.6 billion ($234 million), representing a 12% increase year over year.Other cost of revenues, which include depreciation costs, operation costs, sales tax and surcharges andshare-based compensation expenses, was RMB 2.6 billion ($386 million), increasing 5% year over year.Selling, general and administrative expenses were RMB 4.5 billion ($681 million), increasing 54% year over year, primarily due to the increase in channel and promotional marketing.Research and development expenses were RMB 4.0 billion ($609 million), increasing 28% year over year, primarily due to the growth of personnel-related costs.5The number of active online marketing customers and revenue per online active customer exclude our group-buying and delivery related businesses for consistency with previous reporting.6Since the beginning of 2017, we have disposed of or planned to disclose certain non-core businesses including Baidu Mobile Games, Baidu Deliveries, Global DU businesses, and Du Xiaoman (our financial services business). Those businesses generated approximatelyRMB 1.0 billion revenues and 0.1 billion operating profit, excluding share-based compensation expenses, for the second quarter of 2018. We expect these divestures together will generate approximately US$1.8 billion in cash.Operating income was RMB 5.4 billion ($819 million), increasing 29% year over year. Non-GAAP operating income was RMB 6.5 billion ($988 million), increasing 31% year over year. Operating income from Baidu Core was RMB 6.7 billion ($1.02 billion), increasing 31% year over year. Non-GAAP operating income from Baidu Core was RMB 7.8 billion ($1.17 billion), increasing 32% year over year.Income tax expense was RMB 1.1 billion ($164 million), compared to RMB 564 million in the second quarter of 2017. Effective tax rate was 18%, compared to 11% for the second quarter of 2017, which benefited from the disposal of certain subsidiaries.Net loss attributable to noncontrolling interests was RMB 1.3 billion ($201 million), which included the loss related to the conversion of noncontrolling preferred shares to ordinary shares upon iQIYI’s IPO and the loss on investment arising from a change in fair market value per ASC 321.Net income attributable to Baidu was RMB 6.4 billion ($967 million), increasing 45% year over year. Diluted earnings per ADS amounted to RMB 18 ($2.74). Non-GAAP net income attributable to Baidu was RMB 7.4 billion ($1.12 billion), increasing 57% year over year. Non-GAAP diluted earnings per ADS amounted to RMB 21 ($3.18).Adjusted EBITDA reached RMB 7.4 billion ($1.12 billion) and adjusted EBITDA margin reached 29%. Adjusted EBITDA for Baidu Core reached RMB 8.6 billion ($1.29 billion) and adjusted EBITDA margin reached 43%.As of June 30, 2018, cash, cash equivalents, restricted cash and short-term investments were RMB 128.3 billion ($19.38 billion). Net cash generated from operating activities was RMB 7.1 billion ($1.08 billion) and capital expenditures were RMB 1.5 billion ($227 million). Excluding iQIYI, cash, cash equivalents, restricted cash and short-term investments were RMB 115.2 billion ($17.41 billion), as of June 30, 2018. Excluding iQIYI, net cash generated from operating activities was RMB 7.0 billion ($1.05 billion), and capital expenditures were RMB 1.3 billion ($202 million).In April 2018, Baidu entered into definitive agreements to divest Du Xiaoman, our financial services business. Assets of RMB 38.1 billion ($5.76 billion) and liabilities of RMB 27.3 billion ($4.13 billion) associated with Du Xiaoman were reclassified to assets and liabilities held for sale on the condensed consolidated balance sheet as of June 30, 2018. The transactions contemplated under the definitive agreements are subject to certain closing conditions and are currently expected to close in the second half of 2018.Financial GuidanceFor the third quarter of 2018, Baidu expects revenues to be between RMB 27.37 billion ($4.02 billion7) and RMB 28.77 billion ($4.23 billion), representing a 23% to 30% increase year over year. Excluding the impact from announced divestures, including Global DU and Du Xiaoman, Baidu expects revenues to be between RMB 26.56 billion ($3.91 billion) and RMB 27.92 billion ($4.11 billion), representing a 26% to 33% increase year over year. This forecast reflects Baidu’s current and preliminary view, which is subject to substantial uncertainty.Conference Call InformationBaidu's management will hold an earnings conference call at 9:15 PM on July 31, 2018, U.S. Eastern Time (9:15 AM on August 1, 2018, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows:International: +65 67135090China 4006208038US: +1 8456750437UK: +44 2036214779Hong Kong:+852 ********Passcode for all regions:3485259A replay of the conference call may be accessed by phone at the following number until August 8, 2018: International: +61 2 8199 0299Passcode: 3485259Additionally, a live and archived webcast of this conference call will be available at .About BaiduBaidu, Inc. is the leading Chinese language Internet search provider. Baidu aims to make a complex world simpler through technology. Baidu’s ADSs trade on the NASDAQ Global Select M arket under the symbol “BIDU.” Currently, ten ADSs represent one Class A ordinary share.Contacts7The translations from RMB to U.S. dollars for the expected revenues in the third quarter of 2018 are made at a rate of RMB6.80 to US$1.0, the rounded noon buying rate as of July 20, 2018, in The City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York.Investors Relations, Baidu, Inc.Tel: +86-10-5992-4958Email: ir@Safe Harbor StatementThis 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. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the outlook for the third quarter of 2018, quotations from management in this announcement, as well as Baidu's and other parties' strategic and operational plans, contain forward-looking statements. Baidu may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directorsor employees to third parties. Statements that are not historical facts, including but not limited to statements about Baidu's beliefs and expectations, are forward-looking 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: Baidu’s growth strategies; its future business development, including development of new products and services; its ability to attract and retain users and customers; competition in the Chinese Internet search market; competition for online marketing customers; changes in the Company’s revenues and c ertain cost or expense items as a percentage of its revenues; the outcome of ongoing, or any future, litigation or arbitration, including those relating to intellectual property rights; the expected growth of the Chinese language Internet search market and the number of Internet and broadband users in China; Chinese governmental policies relating to the Internet and Internet search providers and general economic conditions in China, Japan and elsewhere. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. Baidu does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of the press release, and Baidu undertakes no duty to update such information, except as required under applicable law.Non-GAAP Financial MeasuresTo supplement Baidu’s conso lidated financial results presented in accordance with GAAP, Baidu uses the following non-GAAP financial measures: non-GAAP operating income/loss, non-GAAP operating margin,non-GAAP net income attributable to Baidu, non-GAAP diluted earnings per ADS, adjusted EBITDA and adjusted EBITDA margin. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP.Baidu believes that these non-GAAP financial measures provide meaningful supplemental information regardingits performance and liquidity by excluding certain items that may not be indicative of its recurring core business operating results, such as operating performance excluding not only non-cash charges, but also other items that are infrequent or unusual in nature. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to Baidu’s historical performance and liquidity. The Company believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that these non-GAAP measures exclude certain items that have been and will continue to be for the foreseeable future a significant component in the Company’s results of operations.These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data.Non-GAAP operating income represents operating income excluding share-based compensation expenses.Non-GAAP net income attributable to Baidu represents net income attributable to Baidu excluding share-based compensation expenses, the gain or loss associated with the issuance of shares by Baidu’s equity method investees at a price higher or lower than the carrying value per share, disposal gain or loss, impairment oflong-term investments, fair value change of long-term investments, as adjusted for related income tax effects. Non-GAAP diluted earnings per ADS represents diluted earnings per ADS calculated based on non-GAAP net income attributable to Baidu. Adjusted EBITDA represents operating income excluding depreciation, amortization (excluding the amortization of licensed copyrights and produced content of iQIYI) and share-based compensation expenses.For more information on non-GAAP financial measures, please see the tables captioned “Reconciliations of non-GAAP financial measures to the nearest comparable GAAP measures.”Baidu, Inc.Condensed Consolidated Statements of IncomeThree Months EndedJune 30, March 31, June 30, (In RMB millions except for share, per share (or ADS) information) 2017 2018 2018Unaudited Unaudited Unaudited Revenues:Online marketing services 17,883 17,169 21,065 Others 2,991 3,738 4,907 Total revenues(note 1) 20,874 20,907 25,972Operating costs and expenses:Content costs 3,112 4,194 5,213 Traffic acquisition costs 2,478 2,256 2,698 Bandwidth costs 1,382 1,472 1,550 Others 3,610 1,981 2,551 Cost of revenues (note 2) 10,582 9,903 12,012 Selling, general and administrative (note 2) 2,934 3,142 4,505 Research and development (note 2) 3,148 3,294 4,033 Total operating costs and expenses 16,664 16,339 20,550Operating income 4,210 4,568 5,422Other income:Interest income 712 821 882 Interest expense (334 )(352 )(478 ) Foreign exchange income(loss), net (139 )(48 )30 Income(loss) from equity method investments (118 )(177 )69 Other income, net 643 1,856 231 Total other income 764 2,100 734 Income before income taxes 4,974 6,668 6,156 Income taxes 564 1,120 1,086 Net income 4,410 5,548 5,070 Less: net loss attributable to noncontrolling interests (5 )(1,146 )(1,332 ) Net income attributable to Baidu 4,415 6,694 6,402Earnings per share for Class A and Class B ordinary shares:-Basic 113.58 188.60 183.16 -Diluted 113.11 186.76 181.36 Earnings per ADS (1 Class A ordinary share equals 10 ADSs ):-Basic 11.36 18.86 18.32 -Diluted 11.31 18.68 18.14 Weighted average number of Class A and Class B ordinary sharesoutstanding:Basic 34,678,268 34,838,392 34,953,564 Diluted 34,824,387 35,180,950 35,299,428(1)Starting on January 1, 2018, valued added tax has been reclassified from cost of revenues to net against revenues. To increasecomparability of operating results and help investors better understand our business performance and trends, 2017 net revenues have been presented. 2017 net revenues are defined as gross revenues under legacy GAAP after the deduction of value added taxes, which is presented on the same basis as 2018 and going forward.Three Months EndedJune 30, March 31, June 30,2017 2018 2018Unaudited Unaudited Unaudited Gross revenues 20,874 22,162 27,520 Less: value added taxes 1,175 1,255 1,548 Net revenues 19,699 20,907 25,972(2) Includes share-based compensation expenses as follows:Cost of revenues 48 35 60 Selling, general and administrative 236 291 302 Research and development 512 452 755 Total share-based compensation expenses 796 778 1,117Baidu, Inc.Condensed Consolidated Balance SheetsDecember 31, June 30, (In RMB millions except for number of shares and per share data) 2017 2018Audited Unaudited ASSETSCurrent assets:Cash and cash equivalents 11,084 28,859 Restricted cash 252 681 Short-term investments 89,381 98,725 Other invested securities 18,350 - Accounts receivable, net 4,571 4,863 Loans and interest receivable, net 23,938 - Amounts due from related parties 168 785 Other assets, current 3,425 5,948 Assets held for sale - 38,113 Total current assets 151,169 177,974 Non-current assets:Fixed assets, net 12,475 14,647 Intangible assets, net 5,467 6,875 Goodwill 15,806 15,806 Long-term investments, net 56,283 63,123 Loans and interest receivable, net 3,467 - Amounts due from related parties 9 115 Deferred tax assets, net 1,532 1,338 Other assets, non-current 5,520 8,442 Total non-current assets 100,559 110,346 Total assets 251,728 288,320LIABILITIES AND EQUITYCurrent liabilities:Short-term loans 1,244 633 Amounts due to the third-party investors 38,486 - Accounts payable and accrued liabilities 27,523 30,648 Customer advances and deposits 6,785 6,914 Deferred revenue 788 1,386 Deferred income 568 542 Long-term loans, current portion 10 10 Notes payable, current portion 6,500 13,220 Amounts due to related parties 153 538 Liabilities held for sale - 27,311 Total current liabilities 82,057 81,202 Non-current liabilities:Deferred income 73 49 Deferred revenue - 1,499 Long-term loans 6,701 7,534 Notes payable 29,111 32,892 Deferred tax liabilities 3,375 3,382 Other non-current liabilities 39 74 Total non-current liabilities 39,299 45,430 Total liabilities 121,356 126,632December 31, June 30, (In RMB millions except for number of shares and per share data) 2017 2018Audited Unaudited Redeemable noncontrolling interests 11,022 - EquityClass A Ordinary Shares, par value US$0.00005 per share, 825,000,000shares authorized, and 27,614,978 shares and 27,809,471 shares issuedand outstanding as at December 31, 2017 and June 30, 2018 - - Class B Ordinary Shares, par value US$0.00005 per share, 35,400,000shares authorized, and 7,201,254 shares and 7,201,254 shares issued andoutstanding as at December 31, 2017 and June 30, 2018 - - Additional paid-in capital 12,088 30,663 Retained earnings 102,328 118,113 Accumulated other comprehensive income 930 304 Total Baidu, Inc. shareholders’ equity115,346 149,080 Noncontrolling interests 4,004 12,608 Total equity 119,350 161,688 Total liabilities, redeemable noncontrolling interests, and equity 251,728 288,320。

公司财务审计报告公司财务审计报告是一种描述和评估公司财务状况的文档。

经过审计的报告向利益相关者提供了可信的财务信息，包括公司的资产，负债和利润等方面的数据。

以下是三个公司财务审计报告的案例。

1. 棕榈海滩国际酒店集团2017年，棕榈海滩国际酒店集团的审计报告显示，该公司被指控存在一些不当行为，例如在销售和营销方面的错误，以及违反反洗钱和反腐败法规。

审计师还发现了一些投诉和其他违规问题的记录。

作为回应，该公司采取了一系列措施，包括提高内部控制和合规，培训员工等。

2. 牛津大学出版社2018年，牛津大学出版社的审计报告显示该公司在审计方面存在缺陷。

审计报告指出牛津大学出版社未能提供足够的证据证明其财务记录的准确性。

审计师进一步建议该公司改善内部控制和审计程序，以确保财务报告的完整性和准确性。

3. 飞机制造商波音公司2019年，波音公司的审计报告引起了关注。

审计师检查了该公司的内部控制和财务记录，并发现了一些问题。

审计师指出波音公司在飞机安全方面存在严重问题，包括在737 Max飞机上的设计缺陷。

波音公司的行为最终导致了两起致命的坠机。

审计师建议该公司改善其财务政策和内部控制，以保障飞行安全和透明度。

总之，公司财务审计报告是一项基本而关键的业务，可以为投资者，当局和其他利益相关者提供有价值的信息。

它可以指出公司所面临的问题并建议改进措施，以确保公司的财务数据的正确性和可靠性。

因此，公司需要确保他们的财务记录和审计程序得到妥善管理和应用，以保持其财务状况的准确性和透明度。

同时，投资者和其他利益相关者也应仔细阅读公司的审计报告并确保其完整性和准确性。

他们可以使用这些报告来了解公司的财务状况和内部控制，并在做出投资决策之前进行谨慎地评估。

最后，审计师在编写和发布这些报告时需要保持诚实和透明，以确保投资者对公司的财务状况拥有真实的了解。

只有这样才能建立可信赖的市场和保护利益相关者的权益。

公司的财务审计报告在现代商业运作中起着重要的作用，是理解公司财务状况的基本工具之一。