Vision - Alibaba

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148 Annual Report 2007 Notes to the Financial Statements 32 COMMITMENTS (Continued) (c) Other commitments — sales and marketing expenses 2007 2006 RMB’000 RMB’000 No later than 1 year 1,981 4,633 33 RELATED PARTY TRANSACTIONS Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise signifi cant infl uence over the other party in making fi nancial and operating decisions. Parties are also considered to be related if they are subject to common control or common signifi cant infl uence. Except as disclosed elsewhere in the consolidated fi nancial statements, the following transactions were carried out with related parties: (a) Deed of indemnity On October 19, 2007, a deed of indemnity was entered into between the ultimate holding company and the Company whereby the ultimate holding company has undertaken to the Company that it will indemnify and at all times keep the Company fully indemnifi ed on demand in connection with, among others, (i) any taxation falling on the Group prior to the listing of the shares of the Company on the Stock Exchange to the extent that specifi c provision has not been made nor disclosed in the Prospectus and/or other conditions as specifi ed in the deed of indemnity; (ii) all losses, damages, costs and expenses of any nature arising out of or related to liabilities not expressly assumed by the Group upon the transfer of the assets and liabilities of the B2B business from AliPay E-commerce Corp. and Zhejiang <strong>Alibaba</strong> E-commerce Co., Ltd. to the Group pursuant to the Reorganization (Note 1.1); and (iii) all losses, damages, costs, expenses and liabilities of any nature, in excess in aggregate of US$2.0 million (RMB15.0 million), related to legal proceedings arising at any time relating to the conduct of a fellow subsidiary’s business prior to the listing date of the shares of the Company on the Stock Exchange on November 6, 2007. As of December 31, 2007, no indemnity was effected.
33 RELATED PARTY TRANSACTIONS (Continued) (b) Recurring transactions Notes to the Financial Statements 2007 2006 RMB’000 RMB’000 Royalty fee expense paid or payable to ultimate holding company (Note i) 41,069 25,762 Purchase of advertising and promotion services from (Note ii): — a fellow subsidiary — subsidiaries of a substantial shareholder of the ultimate 2,909 1,632 holding company 3,945 1,327 6,854 2,959 Cross-selling of promotion and related services with a fellow subsidiary (Note iii) 17,500 800 Commission income received from a fellow subsidiary (Note iv) 11,539 — Reimbursement from fellow subsidiaries for the provision of administrative services (Note v) 1,661 — Reimbursement from a fellow subsidiary for the sharing of offi ce space (Note vi) 107 — Reimbursement from fellow subsidiaries for the provision of technology services (Note vii) 522 — House brand head license fee paid or payable to ultimate holding company (Note viii) 306 — 149
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Financial and Operational Highlight
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orld’s leading nline marketplace
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CORPORATE HEADQUARTERS 6th Floor, C
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November Launched TradeManager inst
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Awards and Recognitions Awards and
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Global E-Commerce Leader Alibaba.co
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Along with other members of Alibaba
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2007 Financial highlights We achiev
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CEO’s Statement This mission star
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Global Trade Starts Here Alibaba.co
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BUSINESS ENVIRONMENT Buoyant China
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International marketplace operating
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localize user services and facilita
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selling branded advertisements main
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Management Discussion and Analysis
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provider and other related expenses
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expenses include a royalty fee paid
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Profi t attributable to equity owne
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such land to accommodate our growth
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Corporate Social Responsibility —
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Biographical Details of Directors a
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Directors’ Report RETIREMENT SCHE
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Directors’ Report DIRECTORS’ RE
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52 Annual Report 2007 Notes: (a) Th
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56 Annual Report 2007 2. Outstandin
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58 Annual Report 2007 D = the maxim
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60 Annual Report 2007 (ii) Maximum
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62 Annual Report 2007 DIRECTORS’
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Directors’ Report We have also en
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Directors’ Report Alibaba Group h
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Directors’ Report Disclosure of d
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Corporate Governance Report Corpora
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Corporate Governance Report Since w
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Corporate Governance Report Composi
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Corporate Governance Report Composi
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Corporate Governance Report INVESTO
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The Leading B2B E-Commerce Company
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Independent Auditor’s Report We b
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Consolidated Balance Sheet As of De
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Balance Sheet As of December 31, 20
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Consolidated Statement of Changes i
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Consolidated Cash Flow Statement 20
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96 Annual Report 2007 Notes to the
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