:
5
1 100%
2011 4 28
/
2015 3 24 /
2015 3 24
50%
500 50% 2015 3 25 2
2015 10 1
/
3
2015 10 1
/
4 360 100%
360 2015 1 14
/ 360
360 2016 5 10 / 360 360
2016 4 1 360
360 45%30%25%
292.646323 36045% 195.097549 360 30% 162.581291 360 25% 2016 5 11 360
5 100%
ChampAssetHoldingsLimited Champ Asset 2016 5 18 ChampAsset100% ChampAsset
3,000 ChampAsset 100% 2016 6 8
[2016]0030 2016 6 12
6 100%
FortuneNetworkTechnologyCo. Limited FortuneNetwork 2016 4 20
FortuneNetwork 100% Fortune Network 600 FortuneNetwork100% 2016 5 5
[2016]2432 2016 6 14
7 100%
2016 8 23
100% 260100% 2016 8 30
8 100%
2013 10 23 / 2016 9 7 /
2016 9 2
50%
4,072.93669 50% 2016 9 7
9 QifeiInternational100%
2017 1 12 Qisi HK True Thrive
150 True Thrive QifeiInternational100% 2017 1 12
10 52.92%
2016 12 22
19,35052.92% 2017 1 19
11 True Thrive
TrueThrive 2017 2 17
TrueThrive
2017 2 2017 2 22 True Thrive N1200201700006
True Thrive
3< >
3 3
360 Qihoo360
||||
|-|-|-|
|1|||
|2|||
|3|360||
|4|||
|5||2021 12 31|
|6|||
|7|||
|8|||
|9|QifeiInternational||
|10|||

2016
|||||
|-|-|-|-|
|2015 /|5,450,064|1,234,580|-21,100|
|2015 /|7,993,221|8,122,515|1,403,657|
||68.18%|15.20%|-1.50%|

50%
50% 100%
3
3
100%
2015 100%
1,321 748
2015
218,306 148,376
2015
308,254 196,226
2016 360 100% 360
631 0.9
2016 100%
36,299 40,827
2016 100%
1,095 500
2016 100%
47,467 22,041
2016 100%
40,840 1,134
2017 QifeiInternational100% QifeiInternational
408,932 360,020
2017 52.92%
67,645 49,520
+
1
360 360 360 360
IOT
2016
408 VMWare Adobe
360 2017 3 Pwn2Own2017
2
360 360 360 360
3
360 360
iReseach 2017 3 360
PC 5.09 95.06% PC 4.03 75.04% 360 PC
58.02% 2.91
360
4
360
5
PC
PC/
6
6 Qihoo360
1 Qihoo360 2)
3
Qihoo360
Qihoo360
2017 1-6
/
2017 1-6
|||
|-|-|
|45,424|3.07%|
|46,045|1.97%|

 2017 1-6
|||
|-|-|
|13,586|0.26%|
|4,458|0.08%|
|965|0.02%|
|4,321|0.08%|

8 2017 12 31
1
2017 2
2017
2017
1
2017 1-9
2017 3 2017 2 2017 1 2017 1-9
||||
|-|-|-|
|2017|3 2017 2 2017|1 2017 1-9|
||3,166,502 2,849,232|2,438,434 8,454,168|
||809,682 752,373|727,450 2,289,505|
||459,477 387,556|427,839 1,274,872|
||784,023 791,527|728,355 2,303,905|
||617,318 612,561|572,509 1,802,388|
||920,197 750,891|659,870 2,330,958|

2017 119.7 2017 1-9
84.5 70.6% 2016 1-9
66.64% 2016
2017
20.9 2017 1-9 18.9 90% 2017 1-9
|||||
|-|-|-|-|
|2,438,434|2,849,232|3,166,502|-|
|2,102,698|2,282,290|2,215,958|3,303,395|
|15.97%|24.84%|42.90%|-|

 2017 1-9
28.08%
2017 1-9
2
1
2
3
2017
2017 12 31
2020
1 2017 2018 2019 2020
220,000 290,000 380,000 415,000
2 2017 2018 2019 2020
=
2017
2017 2018 2019 2020
1,305,000
0 0
3
1
24
40%
2
30%
3
30%
2017 12 31
2020
12 1,000
6 3
1,000 6 2 3
1
1
2
3
4
1
2017 6 Red 5SingaporePte. Ltd. Red 5
Firefall Red 5 System LinkCorporation Limited System Link QifeiInternational Qihoo360
1.5
2017 12 14 2017 12 11 QifeiInternational
2016 11 21 Red 5
System Link QifeiInternational Qihoo360 CityChannel Limited( ChannelLi ( )
Red 5 2014 8 System Link ( QifeiInternational CityChannel ) Firefall LicenseandDistribution
Agreement System Link Red 5 1.5
System Link Red 5 Qifei International Qihoo360 600
System Link GlobeWealthyLink Limited QifeiInternational CityChannel System Link Red 5 Red5 (a) System Link Red 5 1.5 (b) QifeiInternational Qihoo360 2017 8 4
Red 5 Qifei International Qihoo360 1.5
QifeiInternational Qihoo360 Licenseand DistributionAgreement
System Link ( QifeiInternational Qihoo360 )
System Link Qifei International 50%
Red 5 QifeiInternational Qihoo360 System Link Red 5
150,000,000
;
2
1
1,000 6 5.61
13
2
Red 5 1,000
1.5
3
13 -
6 38
125 4
13 -
Red5 3
System Link
Red 5
4
4 ..
1
100% 2
3
4
5
21 OEM
1
2
3
4 5
2017 1-6 2016 2015 2014
||||||
|-|-|-|-|-|
|( )|2017 1-6104,436|2016114,762|2015-|2014-|
||126,765|292,825|158,341|-|
||41,496|117,323|18,543|-|
||272,697|524,910|176,884|-|

 ( )
( ) 2000 9 16
3C 2010 A 002475
45,000 1998 7 976
, 110
1999
2014 12 1
2005 11
12614
OEM
ISO9000
OQC
ID IQC
22 1 2015 2017
13.91%9.85% 16.36% 2 2016
2017
3 2
3
2015 2017 13.91%9.85% 16.36%
A.
2015 2017
B.2016
2016
2016 4.06%13.2% 3.3% 1.6% a. 2015 2016
2015 2016 5 2017 7
2015
3G
2016 2017 123% 160%
2016 20%6.4%
b. 2015 2016
2015 2 2016 4 2017 8
2016 0.8%
2.9%
c. 2015 2016
2015 1 2016 7 2017 9
2016 3.6%
1.9%
C.2017
2017
6.51%
8.2% 8.8% 4.5%
a. 2017 6.8% 15.3% 2017 b.
2017 5.7%
5.2%
c. 2017
14.8% 9.2%
23 412,868.1 589,349.1 592,284.4 382,752.2 52.80%62.98%59.8% 72.44% 1
2
3
/
4
5
6
7
PC
PC
(AdImpression)
CPC(CostPerClick) CPM(CostPerMille)
360 360
360 360 360 360
3
3
0%35%
|||
|-|-|
|00700.HK|12|
|SINA.NASDAQ|123|
|BIDU.NASDAQ|1 P4P23|
|NTES.NASDAQ|1 , 3 ,32|
|SOHU.NASDAQ|12|

0%-24% 0%-25%
1%-5% 0%-35%
/
1
2
3
4
5
6
-82-
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||13/21/7102-1/1/7102||13/21/7102-1/1/7102||13/21/7102-1/1/7102||13/21/7102-1/1/7102||13/21/7102-1/1/7102||
|/|||||3||||3||
|||51||51|3|||51|3||
|||%53-0||%53-0||%51-0||%53-0||%51-0|
||1||2||3||4||5||

-92-
||||||||||
|-|-|-|-|-|-|-|-|-|
|293,372,531||||781,150,14|083,634,01||489,143,73|708,198,6|
|%17.51|||||%72.5||%81.5|%09.4|
|||||%09.6|||||
|677,191,106||||5|036,565,102||344,412,891|543,526,781|
|||||16,529,362|||||
|4102|||||||3102|3102|
||4102|1102|3102|4102|2102|2102|||
|1||||2|3||4|5|

-03-
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|276,235,32||389,685,71|494,548,41|885,878,51|||||969,174,91|
|%74.9||%67.6|%07.5|%06.4|||||%|
||||||||||13.3|
|869,428,065||697,784,004|320,945,733|714,093,272||||||
||||||||||806,058,591|
|||3102|3102||||4102|||
|2102|2102|||4102|4102|1102||3102|3102|
|1||2|3|4||||||
||||||||||5|

-13-
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|350,236,89|||||856,478,22||390,267,25|334,662,61|330,528,51|
|%16.8|||||%59.6||%34.5|%50.5|%84.4|
|856,435,705|||||195,383,904||797,538,913|753,235,792|491,858,362|
|4102|4102||4102||2102||3102|3102|3102|
|||1102||3102||2102||||
|||||||||*||
|1|||||2||3|4|5|

-23-
|||||||||
|-|-|-|-|-|-|-|-|
|203,223,58|954,017,28|||093,570,9||443,176,62|250,754,7|
||%65.5|||%43.4|||%61.3|
|%89.6||||||%82.3||
|073,200,882|058,794,922|||722,582,971|||845,533,031|
|||||||021,314,531||
|3102|||||||3102|
||1102|4102|4102|2102|2102|3102||
||||||||*|
|1|2|||3|||5|
|||||||4||

2)
( )2017 1-6
|||||||
|-|-|-|-|-|-|
|1|||2015|2017/1/1-2017/12/31||
|||( )|2014|||
||||2013|||
||||2015|||
|2||( )|2014|2017/1/1-2017/12/31||
||||2016|||
||||2013|||
|||( )|2013|||
|||( )|2012|||
||||2013|||
||||2014|||
||||2014|||
||||2017|||
|3|||2014|2017/1/1-2017/12/31||
|||( )|2016|||
||||2013|||
||||2016|||
||4||2013||2017/1/1-2017/12/31|
||5||2013||2017/1/1-2017/12/31|

( )2016
||||||||
|-|-|-|-|-|-|-|
||1|9377|||2013|2016/1/1-2016/12/31|
|2|||||2013|2016/1/1-2016/12/31|
||||||2015||
||||||2015||
||||||2015||
||||( )||2014||
||||( )||2013||
||||( )||2013||
|3|||||2013|2016/1/1-2016/12/31|
||||||2013||
|4|||||2012|2016/1/1-2016/12/31|
||||( )||2013||
||||( )||2014||
||||||2015||
|5|||||2014|2016/1/1-2016/12/31|
|||||2015|||

( )2015
|||||||
|-|-|-|-|-|-|
|1||||2013|2015/1/1-2015/12/31|
|||||2013||
|||||2014||
||2|9377||2013|2015/1/1-2015/12/31|
|3||||2012|2015/1/1-2015/12/31|
||||( )|2014||
|||||2015||
|4||||2013|2015/1/1-2015/12/31|
|||||2014||
|||||2015||
|||||2015||
|||||2015||
|5|||( )|2013|2015/1/1-2015/12/31|
|||||2013||
||||( )|2014||
||||( )|2013||
||||( )|2013||
|||||2015||
|||||2015||
|||||2015||

( )2014
|||||||
|-|-|-|-|-|-|
||1|9377||2013|2014/1/1-2014/12/31|
||2||( )|2014|2014/1/1-2014/12/31|
||3|||2013|2014/1/1-2014/12/31|
||4|||2013|2014/1/1-2014/12/31|
|5||1|( )|2014|2014/1/1-2014/12/31|
||||( )|2012||

1)
||||||||
|-|-|-|-|-|-|-|
|2017 1-6||2016||2015||2014|
|3,827,522|*29.25%|5,922,844|0.50%|5,893,491|42.75%|4,128,681|

 2017 1-6
2015 41.3% 2015 2015 58.93 2014 42.75%
2016
( )2016 4
( )2016 9
2017
( )2017
2017
2017 1,560.5 11.48%
( )
2016 2017
2017
( )
AI
2017
CTR((Click ThroughRate ) 2017 2 2016 4 PC CTR 100% CTR 30%
CPT(CostPer Try ) CPM(CostPerMille ) CPC(CostPerClick )
( )
2016 ( )
(PC )
PC
2017 1-6 2016 2015 2014
||
|-|
|1,270,751 33.20% 2,045,048|
|743,826 19.43% 1,188,950|
|563,306 14.72% 676,206|
|430,033 11.24% 537,644|
|290,013 7.58% 554,215|
|219,237 5.73% 405,394|
|122,981 3.21% 177,384|
|187,374 4.89% 338,002|
|3,827,522100.00% 5,922,84410|

 25
19.02 15.87 19.13 9.31
46.07%26.93%32.29% 24.32% 1)
2)
3)
-83-
|||||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||52|/||/|CPC|51|TPC|)3(|
|%36.9||||||%54.2|%93.1|||||%80.1|||%28.0|
|007,627,863)(||||||670,707,39|524,491,35|||||104,473,14|||659,805,13|
|5102|7102|0102|4102|6102|7102|5102||4102||2102||6102|||6102|
||||||||0102|||||||||
|||||||detimiLdnalerIkoobecaF||||||||||
|||)(||)(||||||||||||
|||||||koobecaF||||||||||
|1||||||2|3|||||4|||5|

-93-
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||||||||||03|51TPCCPC||
|%47.21||||||||%18.9|%29.0|%98.0|%53.0|
|050,805,457)(||||||||000,998,085|643,063,45|999,495,25|326,938,02|
|5102|0102|4102|5102|6102|3102|6102|5102|5102|4102|6102|0102|
||)(|||)(|)(||)(|detimiLdnalerIkoobecaF||||
|||||||||koobecaF||||
|1||||||||2|3|4|5|

-04-
||||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||TPC|||)3(CPC||||
|%85.8|||||||%60.2|%48.0|||||%66.0|%36.0|
|513,356,505)(|||||||095,865,121|551,834,94|||||001,171,93|283,263,73|
|5102|4102|0102|3102|5102|5102|5102|5102|2102|5102|2102||3102|2102|0102|
|||)(|)(|)(|||detimiLdnalerIkoobecaF|)(||)(||)(|||
||||||||koobecaF||||||||
|1|||||||2|3|||||4|5|

-14-
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||)3(|)3(/51|||1|511TPCCPC||
|%06.6|||%13.2|%43.1|||%20.1|%10.1||
|899,844,272)(|||100,243,59|937,251,55|||791,262,24|207,565,14||
|0102|4102|3102|0102|1102|4102|4102|3102||4102|
|||||||||0102||
|)(||)(|||)(|)(|)(|||
|1|||2|3|||4|5||

2017
( ) ( ) ( ) (AdImpression)
CostPerClick(CPC)
( )
( )
1
2
3
26 461,788 456,451 438,957 143,477 2017
2016 50% 1)
2)
3)
ARPU
461,788 456,451 438,957 143,477
( ) 2017
2014
2016 26.1% 2017 2016
2014 2017
( )2017
2017
( )2017
( ) 2017
( ) 2017
( )
||
|-|
|38.74%|
|25.05%|
|15.41%|
|10.42%|
|10.38%|
|100.00%|

( )
ARPU
||||||
|-|-|-|-|-|
||( )|( )|( )|ARPU( )|
|2014|96,358|76.83|1,040.62|16.51|
|2015|145,824|80.70|1,194.60|20.68|
|2016|160,338|80.74|1,123.75|22.18|
|2017 1-6|53,439|56.95|880.58|16.95|

 ARPU ARPU ARPU=
2014 -2016 2017
||||||
|-|-|-|-|-|
||( )|( )|( )|ARPU( )|
|2014|198,205|30.28|671.34|24.28|
|2015|119,375|27.27|519.72|25.51|
|2016|99,328|23.89|414.68|27.22|
|2017 1-6|32,568|19.03|269.46|29.01|

 ARPU ARPU ARPU=
2017
2014
2014 2017
28
( )
||
|-|
|14 -|
|( ) ( ) ( )|
|( )|
|,|
|360|

29 88.07%
||
|-|
|29 88.07%|
|1.91% 66.16% 66.45%|

87.14%71.55%66.03%66.30%
|||||
|-|-|-|-|
||2016|2015|2014|
|2017||||
|114|,854 584,36|5 508,691|132,651|
|876|,333 2,613,07|7 2,657,971|2,945,621|
|13.|11% 22.36|% 19.14%|4.50%|

 13,265 50,869 58,437 11,485 4.50%19.14%22.36%13.11% 2017
2017 2016
|||||
|-|-|-|-|
|2017 1-6|2016|2015|2014|
|60.60%|65.10%|64.77%|67.43%|
|86.46%|75.70%|75.45%|78.14%|
|63.15%|64.35%|68.85%|78.48%|
|62.19%|56.57%|65.03%|65.09%|
|72.50%|55.51%|60.72%|63.97%|
|72.60%|67.5%|62.82%|68.76%|
|69.58%|64.12%|66.27%|70.31%|
|66.30%|66.03%|71.55%|87.14%|

 2014 2015 2016 2017
( )
|||||||||
|-|-|-|-|-|-|-|-|
|2017 1-6||2016||2015||2014||
|10,148,000|17.93%26|,970,000|17.75%1|7,468,000|16.98%|8,308,000|10.53%|
|36,804,000|65.02%|107,810,000|70.96%8|0,669,000|78.42%6|3,310,000|80.21%|
|-|-|-|-|-|-4|,753,000|6.02%|
|9,654,000|17.05%17|,158,000|11.29%|4,726,000|4.59%|2,561,000|3.24%|
|56,606,000|100%|151,938,000|100%|102,863,000|100%|78,932,000|100%|
|17,883,000|85.67%64|,525,115|91.46%6|4,037,006|96.47%4|8,495,215|98.86%|
|2,991,000|14.33%|6,024,249|8.54%|2,344,723|3.53%|557,103|1.14%|
|20,874,000|100%|70,549,364|100%|66,381,729|100%|49,052,318|100%|
|167,483|20.05%|447,956|27.14%|577,114|29.79%|541,158|32.35%|
|328,782|39.36%|597,133|36.18%|539,521|27.85%|357,839|21.39%|
|496,265|59.41%|1,045,089|63.32%|1,116,635|57.64%|898,997|53.73%|
|207,723|24.87%|395,709|23.98%|636,846|32.88%|652,008|38.97%|
|131,283|15.72%|209,633|12.70%|183,610|9.48%|122,072|7.30%|
|835,271|100%|1,650,431|100%|1,937,091|100%|1,673,077|100%|
|137,722|21.62%|304,090|29.50%|340,814|38.70%|375,504|48.88%|
|452,574|71.05%|651,915|63.24%|477,891|54.26%|334,172|43.50%|
|46,701|7.33%|74,931|7.27%|61,964|7.04%|58,565|7.62%|

||||||||||
|-|-|-|-|-|-|-|-|-|
||636,997|100%|1,030,936|100%|880,669|100%|768,241|100%|
||9,430,175|70.50%2|7,980,491|73.29%1|7,314,148|75.93%|9,266,158|79.11%|
||595,593|4.45%|2,152,379|5.64%|1,789,377|7.85%|1,344,829|11.48%|
||3,350,280|25.05%|8,045,974|21.07%|3,699,370|16.22%|1,101,847|9.41%|
||13,376,048|100%|38,178,844|100%|22,802,895|100%|11,712,834|100%|
||-|-|641,746|44.82%|727,450|45.33%|571,733|36.09%|
||-|-|460,173|32.14%|522,190|32.54%|429,839|27.14%|
||-|-|304,408|21.26%|267,349|16.66%|269,429|17.01%|
||-|-|-|-|46,709|2.91%|285,666|18.03%|
||-|-|25,466|1.78%|41,064|2.56%|27,392|1.73%|
||562,237|100%|1,431,793|100%|1,604,762|100%|1,584,059|100%|
||-|-|633,836|46.56%|478,318|47.95%|348,346|54.96%|
||-|-|386,182|28.37%|277,664|27.84%|147,038|23.20%|
||-|-|271,928|19.97%|169,332|16.98%|65,133|10.28%|
||-|-|72,154|5.30%|72,219|7.24%|73,785|11.64%|
||-|-|-2,743|-0.20%|-|-|-472|-0.07%|
||562,845|100%|1,361,357|100%|997,534|100.00%|633,830|100%|
||721,005|87.19%|1,578,239|85.09%|697,555|62.07%|418,043|53.96%|
||76,407|9.24%|246,366|13.28%|383,383|34.12%|302,944|39.10%|
||29,550|3.57%|30,083|1.62%|42,841|3.81%|53,778|6.94%|
||826,962|100%|1,854,688|100%|1,123,779|100%|774,764|100%|
||2,777,301|90.19%|4,622,288|88.08%|4,209,438|90.39%|276,286|46.18%|
||302,129|90.19%|625,605|88.08%|447,349|90.39%|318,736|46.18%|
||3,079,429|100%|5,247,894|100%|4,656,787|100%|598,225|100%|
||3,827,522|72.44%|5,922,844|59.80%|5,893,491|62.98%|4,128,681|52.80%|
||880,548|16.66%|2,624,086|26.49%|2,745,699|29.34%|3,533,533|45.19%|
|1)|876,333|16.58%|2,613,077|26.38%|2,657,971|28.41%|2,945,621|37.67%|
|2)|4,215|0.08%|11,009|0.11%|87,728|0.94%|587,912|7.52%|
||463,588|8.77%|804,454|8.12%|276,920|2.96%|-|-|
||112,707|2.13%|552,957|5.58%|440,985|4.71%|157,333|2.01%|
||5,284,365|100%|9,904,341|100%|9,357,095|100%|7,819,547|100%|

%
|||||
|-|-|-|-|
|2017 1-6|2016|2015|2014|
|60.60|65.10|64.77|67.43|
|37.85|42.91|48.81|43.91|
|-|-|-|6.44|
|22.39|15.95|9.69|55.21|
|50.01|55.61|59.53|60.89|
|-|-|-|-|
|-|-|-|-|
|49.31|50.00|58.64|61.5|
|-22.36|17.16|33.60|43.14|
|45.62|51.41|55.71|54.19|
|22.68|36.73|44.29|47.54|
|86.46|75.70|75.45|78.14|
|35.08|51.16|56.09|41.46|
|40.49|47.90|55.65|59.02|
|59.97|55.21|53.68|54.17|
|78.61|73.78|70.29|74.98|
|42.3|36.53|42.62|40.81|
|71.92|65.59|61.92|62.21|
|63.15|64.35|68.85|78.48|
|67.6|65.15|66.52|65.91|
|11.32|28.03|7.89|44.25|
|50.37|56.74|58.78|72.15|
|-|43.15|49.78|58.04|
|-|46.09|54.71|52.79|
|-|37.17|44.77|46.84|
|-|-|69.77|68.88|
|-|24.00|73.17|74.07|
|33.63|42.49|51.75|56.94|
|-|56.62|62.34|65.95|
|-|73.06|80.58|55.15|
|-|11.03|9.05|15.18|

||||||
|-|-|-|-|-|
||-|22.22|39.79|53.15|
||-|-|-|-|
||50.17|50.30|56.74|56.79|
||62.19|56.57|65.03|65.09|
||72.50|55.51|60.72|63.97|
||10.73|39.39|9.25|23.37|
||61.31|56.15|61.43|61.75|
||72.60|67.50|62.82|68.76|
||27.89|29.84|26.03|19.90|
||68.21|63.01|59.29|42.61|
||55.34|58.28|63.11|64.60|
||80.32|79.28|82.30|79.04|
||66.45|66.16|71.91|88.07|
|1)|66.3|66.03|71.55|87.14|
|2)|97.46|97.2|82.78|92.75|
||16.36|9.85|13.91|0|
||61.5|66.23|66.18|65.32|
||72.01|69.44|76.47|82.85|

 A
B
( 2017 316.6%)
2014 2015 2016 2017
30 1)
4,000 2)
500 20
3) 160 9 81
1) 4,000 2) 500 3)
160 4)
4,000
4,000 100 8,100 (
( ) (
( )
360 360
wan.360.cn www.youxi.com
|||||||||
|-|-|-|-|-|-|-|-|
|2017 1-6||2016||2015||2014||
|876,333|16.58%|2,613,077|26.38%|2,657,971|28.41%|2,945,621|37.67%|
|5,284,365|100%|9,904,341|100%|9,357,095|100%|7,819,547|100%|

|||||
|-|-|-|-|
|2017 6|2016|2015|2014|
|2,607|2,679|2,286|1,462|
|368|385|347|248|
|8|11|10|-|
|2,983|3,075|2,643|1,710|

 ( )
/
1) 2)
1
2 3
4
5 1
2
( ) (
)
( )
( )
/
360
360
( )
( ) 360 2014 -2017 6.28%
360 5%
360
360 23.99% 6,787
76.01%
( )
360 360 360 360 360
360
2017 6 30
|||
|-|-|
||( )|
|360 360|292,467,285|
|wan.360.cn|459,645,509|
|youxi.com|49,387,550|
||509,033,059|

||||
|-|-|-|
|1~ 3,643|( )9.01|10%|
|1~ 14,647|18.02|20%|
|1~ 36,382|27.04|30%|
|1~ 292,467,285|90.12|100%|
||( )||
|1~ 1,666|7.72|10%|
|1~ 6,216|15.45|20%|
|1~ 14,725|23.17|30%|
|1~ 509,033,059|77.23|100%|

10%
10% 3,643
4,000
2 100 2 100
1 ( 2016 8,000 ) ( 2016 4,000 ) 0.5 (2014 1 1 -2017 6 30 ) 0.42 360 0.45%
2 22 2
360 0.32
76.88%
( )
|||||||
|-|-|-|-|-|-|
||2017 1-6|2016|2015|2014||
|4000|96,871|277,086|305,155|179,238|858,350|
|4000|51,155|154,125|191,536|201,060|597,876|
|100|6,833|6,716|-|-|13,549|
||154,859|437,927|496,690|380,298|1,469,775|
||876,333|2,613,077|2,657,971|2,945,621|9,093,002|
||17.67%|16.76%|18.69%|12.91%|16.16%|
||1,434,775|4,389,579|4,564,517|4,617,881|15,006,752|
||10.79%|9.98%|10.88%|8.24%|9.79%|

 4,000 100 8,100
500
( )
( )
4,000 100
8,100
(1)
160 ( )
( )
60 33 27
60 67.95 45.28% 60 ( 33 27 ) 500 ( )
1 60 500 ID ID 2 60
( )
3 60 500
60 500 ( / 20 2016
20
93.44% 20
60 500
20
500
160
||
|-|
|1 / 202 10,000 1003 1004 2014 -2017 100|
|1 / 202 10,000 1003 1004 2014 -2017 100|
|1 / 202 10,000 1003 2014 -2017 5|

1 1 /
4,000 4,000
100 ( )
/
||||||||
|-|-|-|-|-|-|-|
|/|||||||
|0<N<1|21,403|93.15%|22,339|95.73%|100|100.00%|
|1 N 20|1,554|6.76%|993|4.26%|-|0.00%|
|N 20|19|0.08%|3|0.01%|-|0.00%|
||22,976|100.00%|23,335|100.00%|100|100.00%|

 4,000 22,976
5.74 21,403 / / 93.15% 20 22,957 /99.92%
4,000 23,335
5.83 22,339 /
/ 95.73%
20 23,332 /
99.99%
2 100
2
100
/
/ 20
2 2
4,000 4,000
100 ( )
/
||||||||
|-|-|-|-|-|-|-|
|0<N<1,000|17,979|78.25%|14,087|60.37%|-|0.00%|
|1,000 N 10,000|4,635|20.17%|7,929|33.98%|53|53.00%|
|N 10,000|362|1.58%|1,319|5.65%|47|47.00%|
||22,976|100.00%|23,335|100.00%|100|100.00%|

 4,000 22,976
17,979 / 1,000 / 78.25% 10,000
22,614 / 98.42%
4,000 23,335
14,087 / 1,000 /60.37% 10,000 22,016
/ 94.35%
2 100 100 53 2 10,000 47 2 10,000
10,000
10,000
10,000
||||||||
|-|-|-|-|-|-|-|
|N>100|330|91.16%|1,179|89.39%|46|97.87%|
|0<N 100|32|8.84%|140|10.61%|1|2.13%|
||362|100.00%|1,319|100.00%|47|100.00%|

 10,00
100
3 3
4,000 4,000
100 ( )
4,000 22,976 5.74
4,000 23,335 5.83 2
||||||
|-|-|-|-|-|
|0<N 5|3,159|78.98%|3,134|78.35%|
|5<N<100|825|20.63%|855|21.38%|
|N 100|16|0.40%|11|0.28%|
||4,000|100.00%|4,000|100.00%|

 5 99% 10099%
4
4,000 4,000
100 ( )
( )
( )
||||
|-|-|-|
|0<N<100|474|97.93%|
|N 100|10|2.07%|
||484|100.00%|

 10097.93%
( )
||||
|-|-|-|
|0<N<50|3,316|99.97%|
|N 100|1|0.03%|
||3,317|100.00%|

 10099.97%
( )
||||
|-|-|-|
|1|2|0.02%|
|0|12,217|99.98%|
||12,219|100%|

100 5
160
1
160 QID
73
73 9
10 20 34
(1) 9
360 360
(2) 100 /
100 17 /
/ ( ) 2017 6 30
( )
2
60 33 27
(1) ( )
(2)
(3) /
(4) 500
60 500 20
34 1) 23,797.19 409.77 513.3 16,669.84 11,203.82 11,725.5 2) 2017 70,209.87 645,046.1 3)
1)
2017 2) 3)
2017
( )
2017
||||||||
|-|-|-|-|-|-|-|
|4-12|2|018|2019|2020|2021|2022|
|23,797.19||409.77|513.30|16,669.84|11,203.82|11,725.50|
|8,383.90||||16,317.60|10,896.29|11,441.02|
|487.69||409.77|513.30|352.25|307.53|332.35|
|14,925.60|||||||

||||||||
|-|-|-|-|-|-|-|
|20174-12|2|018|2019|2020|2021|2022|
|23,797.19 4||9,635.02|49,841.51|69,368.54|66,167.71|69,117.59|
|8,383.904||8,327.37|48,327.37|67,944.81|64,727.01|67,585.40|
|487.69||1,103.56|1,310.05|1,219.65|1,236.61|1,328.10|
|14,925.60|||||||
|||204.09|204.09|204.09|204.09|204.09|

 ( )
1 2017 4-12 2017
2014 2015 69,807.40 50,591.80
2014 87,071.70 2015 202,337.10
2016
2016
33,936.80 2017 1-3 2,616.10
2017 4-12 8,383.90
2 2018 2022
2018 2019
2017
2020 2022
( )
( )
2017 2.5 7.9%
( ) ( )
( ) ( ) ( )
4 1.1 2017 4
57.12% 2017 7 1.89
60.02%
14,925.60
( )
2017 11,561.29 2017 9
10,642.8 ( ) 12,000
1
35 1)2017 152.58
148.64
2)2017 1 6 TrueThrive 3)2015 2016 1,297.7 1,299.8 2017 6 30 0
2015 6 17 Qihoo360 CITICSecuritiesCo.Ltd.( ) GoldenBrickCapitalPrivateEquityFundIL.P. ChinaRenaissanceHoldingsLimited ( ) SequoiaCapitalChina I,L.P.( / ) 51.33 / ( 77 /ADS) Qihoo360
2016 7 28 Qihoo360 SEC Form-15
Qihoo360 Qihoo360 SEC
Qihoo360
2016 7
TrueThrive 31.16
12 100 2017 1 2017 5 19 TrueThrive 29
1,964,198 True Thrive
2016 11 2017 2
30.03 148.64 TrueThrive
2017 2 17
2017 3 4 5
2017 5 23
TrueThrive
1,964,198
22 -
( )
( )
( )
( )
( )
-
2017 5 23
2015 2016
1,298.7 1,299.8
2017
2017 6 30
-
2017 6 30 0
( ) 3
3
|||||
|-|-|-|-|
|2017 1-6|2016|2015|2014|
|3,002,657|1,152,689|567,684|539,377|
|-|1,082,689|268,510|3,333|
|515,991|66,136|226,746|89,126|
|3,518,648|1,218,825|794,430|628,503|
|14,864,100|-|-|8,000|
|68,867|3,400,000|26,700|-|
|-|-|26,700|-|
|324,668|2,498,452|430,139|4,000|
|15,257,635|5,898,452|456,839|12,000|
|-11,738,987|-4,679,627|337,591|616,503|

 2017
35.19 30.03
2016 58.98
34.00 34.00
2016 Qihoo360
2017 152.58
148.64
2017 6 30
) 1 1) 1)
||||
|-|-|-|
||2017.06.30 2016.12.31 2015.|12.31 2014.12.31|
|--|- 12,998|12,987 -|
||- 12,998|12,987 -|

 2017
36 9.32 12.69 18.99 22.49 9.64%9.44%13.72%12.29%
12.25 8.35 6.12 4.98 1) 2017 6 30
(
) 2)
3)
2017
||||
|-|-|-|
|2017 6 30|||
|1,528,471|1,506,374|98.55%|
|477,191|253,334|53.09%|
|121,344|117,054|96.47%|
|176,784|74,865|42.35%|
|2,303,790|1,951,627|84.71%|

 2017 6 30 230,379
195,163 84.71% 35,216 ( )
|||||||
|-|-|-|-|-|-|
|0-120|0%|1%|0%|1%|5%|
|121 -1|5%|||||
|1 2|30%|5%|5%|10%|10%|
|2 3|50%|10%|10%|50%|30%|
|3|100%|3 4 30%4 5 50%5 100%|3 4 30%|100%|3 4 50%|
||||4 5 50%||4 5 80%|
||||5 100%||5 100%|

( )
2017 6 30 230,379
195,163 84.71%
( )
46 328 33 139 ( )
|||
|-|-|
|2015|1,293,949|
|2016|1,943,314|
|2017 6 30|2,303,790|
|2016|9,904,341|
|2017|5,284,365|
|2016|6.12|
|2017 ( )|4.98|

 2017 6 30 230,379 2016
36,048 18.55% 2017 4.98 2016 6.12 2017 6 /
(1)2017 528,437 6.71%
(2)
2016 67.71% 2017 75.68%
2017 6 2016 18.55% (3) 2017 2017 2017 2017
2017 2017 2016
2017
37 6.67 7.53 13.09 13.26 8.32 20.89 38.74 40.33 2017 6 30 2016 1) 2) 2017 6 30
2016 3) 2017 6 30
( )
2
40
22
( )
2017 6 30
20%
2017 6 30
20%
2017 6 30 2016
2017 6 30 2016 12 31 158,797 (1) 2017 1 1 6 30 12 106,241 (2)2017 1 1 6 30 127,873 (3)201736%
220,500 (4)2017 1 1 6 30 2
7,766 (5)
2017 6 30 2016 12 31 16,815 (1)2017
7
104,726 (2)2017 1 1 6 30 7
71,121 (3)
21,552 (4)2017 1 1 6 30 7 116,335 (5)
2017 6 30
|||||||
|-|-|-|-|-|-|
|||||2017.6.30||
|Ultrapower360 PTE.LTD.|07/05/2014|45.00%|20,785|||
|KunhooSoftwareLLC|04/11/2016|27.50%|1,046,187||PC|
||22/07/2016|33.75%|770,627|||
|( )|31/12/2015|49.50%|496,405|||
|YICapitalFundIL.P.|31/03/2015|50.00%|308,355|||
||10/01/2017|49.00%|231,635||PC|
||12/12/2014|37.15%|108,510|||
|( )( )|31/03/2015|71.42%|113,597|||
|()|12/03/2015|9.25%|91,576|||
||28/06/2016|15.00%|80,824|||
|CHINA SMARTWIRELESSTECHNOLOGYGROUPIN C.|17/10/2014|14.28%|69,975||/|
|11.2CapitalI,L.P.|20/11/2013|35.56%|68,426|||
||11/02/2015|36.13%|53,934|||
||03/11/2014|30.00%|52,681|||

( )Ultrapower360PTE.LTD.
( ) BridgeMindsConsultingPteLtd. Ultrapower 360PTE 1,350 45%
( )KunhooSoftwareLLC
KunlunTechLimited KeeneyesFutureHoldingInc., FutureHoldingL.P., GoldenBrick Capital PrivateEquityFundIL.P., KunhooSoftwareLLC
15,813 27.5%
( )
2014 2016 7 ,
2016 7 ( ) 21,344.4 55%
33.75%
2016 7 2017 6 30
( ) ( )
( ) 20,484 55%
2015 12
( ) 49.50% ( )
( )YICapitalFundIL.P.
YICapitalFundIL.P. 4,815 50% YICapital FundIL.P
YICapitalFundIL.P.
( )
2017 , 201736%
85% 49%
( )
19,150 37.15%
( ) ( ) ( )
( ) ( ) 2017 6 30 ( )
505 ( ) 50.5% ( ) ( )
( )
( ) ( )9,99971.42% ( ) ( )
( ) ( ) ( ) ( ) ( )
( ) ( )
8,659 9.25%
( )
9,000 15%
( )CHINA SMARTWIRELESSTECHNOLOGYGROUPINC.
1,000 CHINASMARTWIRELESSTECHNOLOGYGROUPINC.14.28% CHINA SMARTWIRELESSTECHNOLOGYGROUP INC CHINA SMARTWIRELESS TECHNOLOGYGROUP INC
( )11.2CapitalI,L.P.
11.2CapitalI,L.P. 960 , 35.56% 11.2Capital I,L.P.
11.2CapitalI,L.P.
( )
6,000 36.13%
( )
6,000 30%
2017.6.30 2016
38 14.54 19.53 17.01 16.61
2017 6 30
42,866.5 31,117.7 30,563.8 20,201.2
25.81%18.74%18.4%12.16% 1)
2) 3)
( )
(20%-70%)
( )
/
( )
0%-35%
( )
IP UV
(45%-50%)
( )
11.86 9.43 18.48 14.34
35.16 24.08 51.57 14.48
||
|-|
|60 -90|
|30-6060 -90|
|60 -90|
|90|

39 3.26 4.80 4.44 5.25 2017 6 30 32,165.1
62.21% 8,645.7 16.45%
1)2017 6 30
2)2017 6 30
2017 6 30 2017
2017 1-6 2016 2015 2014
|||||
|-|-|-|-|
|2|017 1-6 2016|2015|2014|
||321,651 267,6|58 308,501|17|
||3,827,522 5,922,8|44 5,893,491|4,12|
||4.20%( ) 4.52|% 5.23%|4|
||86,457 96,8|34 77,718|10|
||880,548 2,624,0|86 2,745,699|3,53|
||4.91%( ) 3.69|% 2.83%|2|

 2017 2017
14 -
2017 6 30
2017 6 30 2017 9 30
|||
|-|-|
|2017 6 30321,651|2017 9 30279,154|
|86,457|55,903|

 40 24.54 40.33 54.54 10.11 2017 6 30
30,974.5 41,495.1 18,319.2 1)
2017 6 30
2) 2017 6 30
2017 6 30
2017.06.30
||||
|-|-|-|
|2017.06.30|||
|414,951|||
|44,656|||
|39,604|||
|40,899||30-60|
|8,282|||
|11,669|2%||
|38,082|||
|309,745|||
|907,888|||

2017 6 30
|||||
|-|-|-|-|
|6|2017|||
||30|||
|354,852||2016 -2017|( )5%-10%|
|48,385||2016||
|11,714||2016||
|414,951||||

41 13.41 22.02 30.27 14.8 8.00 12.34 14.07 6.25 2015 2014 54.25% 2016 2015 14.02%
19.66%5.8%
||||
|-|-|-|
|2017 2016|2015|2014|
|( )509,758 24.00% 822,218 13.35|% 725,364 8.68|% 667|
|3,827,522 29.25% 5,922,844 0.50|% 5,893,491 42.75|% 4,128|
|13.32% 13.88%|12.31%|16.|
|114,854 -60.69% 584,365 14.88|% 508,691 283.48|% 132|
|876,333 -32.93% 2,613,077 -1.69|% 2,657,971 -9.77|% 2,945|
|13.11% 22.36%|19.14%|4.|

 2017 2017
:
13,265 50,869 58,437 11,485
42 0.14 0.64 1.50 1.31 2015 2014 357.14% 2016 2015 134.38% IP 1) IP
2)2017
IP
IP
|||
|-|-|
|(600715)|1|
|(002555)|1 ( 1 )|
|(300418)||
|(002174)||
|(300052)|2-5|
|(002354)|1|
|(002517)|12|

IP
2017
IP 70 20 IP
70%
2017
IP
IP
43 79.04%82.30%79.28%80.32%
1) 2)
2014 2015 2016 2017
||||
|-|-|-|
|2017|1-6 2016 2015 2|014|
||37.85% 42.91% 48.81%|43.91%|
||49.31% 50.00% 58.64%|61.50%|
||22.68% 36.73% 44.29%|47.54%|
||59.97% 55.21% 53.68%|54.17%|
||67.60% 65.15% 66.52%|65.91%|
||- 43.15% 49.78%|58.04%|
||- 56.62% 62.34%|65.95%|
||80.32% 79.28% 82.30%|79.04%|

( )
( )
( 2017 316.6%)