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www.reportjunction.com P.S.Saminathan Chairman and Managing Director

From the Chairman’s Desk

Pyramid Saimira Group started its Exhibition division from South India - Tamil Nadu in Nov. 2005. Right from the beginning, through the fiscal years of 2006 and 2007, it has been an incredible vertical take-off. Initially only into exhibition, the Group adopted integration across different segments and ventured into distribution, production and post-production and also expanded the company’s footprint into other geographies, including Malaysia, Singapore, UK, USA and has now entered even the last frontier –China. Parallel developments included the Group’s foray laterally into activities like post production, media advertisement, radio, magazines, DTH and of course, Food & Beverages.

It has been an exciting journey; however, not without challenges and hurdles. Along the way, it is true that we have faced pit falls like aggregation of risk, leakages in the system, lead and lag between concept integration to process We do believe integration, non-sink of systemized culture, across the board corruption, misappropriations and of course business and non-business competition. Despite this, the group has significantly succeeded to a large extent in integrating the that change is not something last mile of film industry and has further taken this growth model to tier II cities, thereby creating a holistic integrated that can be predicted; business model. The group has expanded its management bandwidth, creating a highly systemized process orientation, high level of it should be created. corporate governance, and implementing proper internal control mechanisms. We have undertaken the expansion of the management bandwidth with a lot of caution. And indeed, the growth of the business is testimony to the strategic vision of the company. Though long-standing empires are created by strategic vision, they are sustained by only long drawn tactical brilliance. The current focus is to consolidate and successfully stabilize the growth momentum, reduce the leakages in the system, improve the processes, improve the average revenue per user, utilize the huge customer We do not believe connect we have (possibly 2 Million users a day) and of course, improve structural stability, financial stability and have that the sky is the limit; a balance sheet which reflects its growth and also fully stable in its assets and liability match. we believe that we can go far The management is working towards long-term consolidation of the company and the various businesses that we are involved in. We believe that we will achieve this Herculean task in the same way that we have recorded tremendous and beyond. growth. And once we achieve this, we have no doubt that Pyramid Saimira Group will create unparalleled history in the field of Entertainment and Media.

Different people approach change differently, especially when tough times set in. Some people fully resist it, some people try to avoid it, some try to mitigate it, some welcome it, some accept it, some adopt to it and some exploit P.S.Saminathan it. Our philosophy is to create the next change. We do believe that change is not something that can be predicted; it Chairman and Managing Director should be created. We do not believe that the sky is the limit; we believe that we can go far and beyond.

Optimistically yours,

P.S.Saminathan Chairman and Managing Director Part - A : PYRAMID SAIMIRA Corporate News - Pages 1 to 19 I Part - B : PYRAMID SAIMIRA THEATRE LIMITED Annual Report 2007 - 2008 - Pages 1 to 75 Chennai, 30th November, 2008 Part A I PYRAMID SAIMIRA I Corporate News 2007 - 2008 I 1

www.reportjunction.com Business Leaders-India

Satish Shukla S S Balakrishnan Chief Executive Officer Senior General Manager - Operations Emerging Technologies Exhibition

V. Natarajan P.S.Saminathan N. Narayanan Rajesh Karamchandani R S Chandrasekar Chairman Emeritus Chairman & Director Vice President - Sales General Manager - Operations Managing Director Dimples Cine Advertising Content Distribution Kamal Karamchandani Subhaa Venkat Corporate Management Team Vice President - Alliance General Manager - Creative Dimples Cine Advertising TV Content Production K S Srinivasan R Shivagurunathan Director & Chief Executive Officer Vice President Lumina Thomas V Krishnamoorthy Pyramid Saimira Production Finance & Accounts Chief Executive Officer General Manager - Finance & Accounts International Limited Dimples Cine Advertising Exhibition G K Kalidasan T A Adikesavan Vice President Sachin Naik B Sakthivel President - Management Services & Human Resources Managing Director Deputy General Manager Knowledge Management Systems Animation & Gaming Film Production V Srinivasan T Shivakumar Chief Technical Officer Hetal Bhuva R Chandrasekaran Chief Executive Officer - Exhibition & Business Development Director Senior Deputy General Manager - Content Head - Project Finance Purvi Shah Animation & Gaming Global Head S Saravanan S Ganesan Corporate Communications Juned Jable Deputy General Manager - Post Production Group Company Secretary Development Directions Production Services Animation & Gaming Business Leaders-International K Sriram R Rangaraj Director Naveen H Head - News Reel India Uma Saminathan Pyramid Saimira Entertainment America Inc. - U.S.A. General Manager Magazines Director Games Arcades Pyramid Saimira Entertainment Limited - Singapore Prakash Iyer Pyramid Saimira Entertainment America Inc. - U.S.A. Head - Finance & Business Development Pyramid Saimira Entertainment America Inc. - U.S.A. A S Sathish Kumar Industry Advisory Team Chief Executive Officer Jayavel Murugan Pyramid Saimira Theatre Chain - Malaysia Head of Distribution Chitra Lakshmanan Tamma Reddy Bharadwaj Pyramid Saimira Entertainment America Inc. - U.S.A. Pyramid Saimira Entertainment America Inc. - U.S.A. Tamil Film Industry Relationship Advisor Telugu Film Industry Relationship Advisor

R Venkatakrishnan John Hamid Ram Mohan Rao S Varadarajan Chief Executive Officer Head of Operations Film Procurement Advisor Insurance Services Advisor Pyramid & Longzhe Culture and Theatre Ltd - China Pyramid Saimira Entertainment America Inc. - U.S.A.

Dr Santosh Pillai Shariq Hamid In-House Promotions and Publicity Chief Executive Officer & Founder Head of Theatre Operations D Paranchjothi Aurona Technologies Limited - United Kingdom Pyramid Saimira Entertainment America Inc. - U.S.A. Mehru Advertising Company Pvt Ltd., Ajoy Khandheria Michael Managing Director General Manager - Operations Spize TV - United Kingdom Pyramid & Longzhe Culture and Theatre Ltd - China

Amitabh Sharma Prakash M Swamy Vice President Managing Editor Spize TV - United Kingdom Desi Pages - Fun AsiA Pyramid Saimira Publication

2 I PYRAMID SAIMIRA I Corporate News 2007 - 2008 PYRAMID SAIMIRA I Corporate News 2007 - 2008 I 3 www.reportjunction.com Company Overview Business Structure

Pyramid Saimira Theatre Limited - Exhibition Listed on BSE, NSE

Subsidaries & Associates

Pyramid Saimira Entertainment America - Exhibition

Pyramid Saimira Entertainment Limited. Singapore - Distribution

Pyramid Saimira Content Distribution Private Limited - Distribution

Aurona Technologies - Gaming & Animation

Pyramid Saimira Production Services Ltd. - Post Production

Dimples Cine Advertising - Marketing & Advertising

Saimira Premier Theatre Pvt. Ltd. - Realty Company

Pyramid Saimira Production International Ltd. - Movies & TV Content Production

Saimira Access Technologies Ltd - Web based services

Spize TV – DTH Platform

Joint Ventures

Pyramid Saimira Theatre Chain (Malaysia) Sdn Bhd - Exhibition

Pyramid Longzhe Culture & Theatre (China) - Exhibition

4 I PYRAMID SAIMIRA I Corporate News 2007 - 2008 PYRAMID SAIMIRA I Corporate News 2007 - 2008 I 5 www.reportjunction.com Company Overview Peer Comparison Exhibition

Group Performance (2007 - 08) INR in Lacs Operational data

Revenue EBIDTA PAT Particulars PSTL PVR INOX Fame India Cinemax Adlabs Mar-07 Mar-08 Mar-07 Mar-08 Mar-07 Mar-08 Mar-07 Mar-08 Mar-07 Mar-08 Mar-07 Mar-08 Consolidated 97,098 18,617 11,430 Theatres 230 715 19 24 14 22 11 15 10 18 32 62 Screens 265 765 68 97 51 76 39 54 33 52 105 166 PSPIL 5,853 439 288 Seats 154,000 486,258 17,710 24,830 15,251 23,199 12,013 N.A 9,220 14,004 N.A 62,728

PSEL 15,905 6,709 5,884 As on 31st Mar’08 PSTL has 44 Multiplexes containing 94 screens under its operational management Business Source: Data available in the web/Moneycontrol Structure PSPSL 1,977 83 56 Financial Data In Rs. Million Aurona 710 (413) (549) Particulars PSTL PVR INOX Fame India Cinemax Adlabs Dimples 1,986 203 106 March-07 March-08 March-07 March-08 March-07 March-08 March-07 March-08 March-07 March-08 June-07 March-08 (15 months) (9 months) PSTC 4,988 111 69 Revenue 1,647.60 7,493.05 2,063.50 2,774.80 1620.4 2,175.10 609.30 886.60 557.30 785.90 3,939.20 3,231.30 EBIDTA 198.53 1,142.01 350.20 545.10 454.00 548.20 169.40 216.10 182.80 191.00 2,018.50 1,579.40 PSEA 1,194 118 60 PAT 134.33 578.73 105.60 210.70 247.9 264.50 98.3 124.20 72.70 82.00 854.30 459.10 EPS(Rs.) 6.23 20.47 4.16 8.83 4.13 4.29 3.11 3.57 2.59 2.93 21.46 9.95

Source: Data available in the web/Moneycontrol 2006 - 07 2007 - 08 Financial ROCE 25.11% 28.27% Indicators Peer Comparison EPS 6.23 20.47 Production Operational data Q1 Q2 Particulars PSPIL Balaji Telefilms UTV Ashtavinayak GV films No. Of Screens 802 745 March-08 March-08 March-08 March-08 March-08 No. of Footfalls (Lacs) 602.85 628.94 PSTL Standalone Number of hours 133.5 1,571 NA NA NA Number of films 5 3 NA NA NA Average Revenue 41.49 40.11 FY 2008-09

Box Office 30.25 29.27 Financial Data In Rs. Million Food & Beverages 11.24 10.84 Particulars PSPIL Balaji Telefilms UTV Ashtavinayak GV films No. of seats per show (Lacs) 5.09 4.69 March-08 March-08 March-08 March-08 March-08 Average Occupancy (%) 33.72 35.90 Revenue 585.30 3,477.80 2,965.20 971.50 2123* EBIDTA 43.90 1,464.80 301.30 828.60 37.10 Top Line (Lacs) 25,027.81 25,239.21 PAT 28.80 879.30 44.80 136.80 14.00 EBIDTA (Lacs) 2,819.56 2,443.55 EPS(Rs.) 1.56 13.48 1.80 13.64 0.04 EBIDTA Margin (%) 11.27 9.68 Inlcudes stock adjustment of Rs. 1,706 Mn PAT (lacs) 1,349.72 870.42 PAT Margin (%) 5.39 3.45 Peer Comparison EPS 4.77 3.08 Financial Data In USD Million Distribution Particulars PSEL(Unaudited) Eros International March-08 March-08 Operational data Revenue 40.26 113.00 Particulars PSEL Eros International EBIDTA 16.98 77.85 March-08 March-08 PAT 14.90 39.50 Number of films 28 NA EPS(cents) 37.70 33.50

6 I PYRAMID SAIMIRA I Corporate News 2007 - 2008 PYRAMID SAIMIRA I Corporate News 2007 - 2008 I 7 www.reportjunction.com This map is not a political representation.

Pyramid Saimira Group Details

I RA LS DIO IA R I E S M

A V Pyramid Saimira Theatre Limited - India T G

A I Pyramid Saimira Production International Limited - India

I S

N Pyramid Saimira Content Distribution Private Limited. - India

I PRODUCTION F Pyramid Saimira Production Services Limited - India Dimples Cine Advertising Private Limited - India Saimira Premier Theatre Private Limited - India

V Saimira Access Technologies Limited - India T P I

F Pyramid Saimira Entertainment Limited - Singapore

DISTRIBUTION EXHIBITION B Spize TV Pte. Limited - Singapore (JV of Saimira Access Technologies Limited)

D Pyramid Saimira Theatre Chain Sdn. Bhd. - Malaysia

E Pyramid Saimira Entertainment America - U.S.A

H W

I Aurona Technologies Limited - UK Pyramid Longzhe Culture & Theatre Comapny Limited - China

8 I PYRAMID SAIMIRA I Corporate News 2007 - 2008 PYRAMID SAIMIRA I Corporate News 2007 - 2008 I 9 www.reportjunction.com Exhibition Some of our distribution hits

The small screen and the internet may seem to be very HINDI attractive avenues of entertainment but pale in comparison Om Shanthi Om to cinema, which offers a larger than life experience. Halla Bol

Poor quality of theatrical infrastructure due to lack of inclination / ability of single screen owners to invest on TAMIL improvement and high rising content cost have contributed Mozhi to the demise of single screens. Pyramid Saimira as Muni an agglomerator of exhibition points has emerged as Shivaji India’s largest theatre chain by taking strategically located Veerapu theatres on long term lease and bringing them under a Satham Podathe common brand and management. Pyramid Saimira has Kannamoochi Enada focused more on tier II cities of India, where it feels the Polladavan aspirations of people are not being adequately met by the Billa existing infrastructure. Consolidation of Last Mile Delivery Kalloori platform has resulted in a level playing field between Palani content and reach, thereby building an efficient and cost Saathu Mirandal effective content supply chain. Thoondil Anjathey Our mammoth network includes approximately 745 Santhosh Subramaniyam screens with over 469,000 seats in Tamil Nadu, Andhra Dasavadaram Pradesh, Karnataka and Kerala. Saroja

Film Distribution TELUGU

For Pyramid Saimira Group, after establishing itself in Exhibition, its natural backward integration was distribution. Dubai Seenu Distribution also enables the Group to climb up the value chain to de-risk geography and more importantly to de-risk Chandamama the modes of accessing customers. We are currently one of the largest distributors of Indian films both in India and Gamyam abroad. We have offices all across the distribution circles both in India and abroad. We have one of the best marketing, Ready collection and monitoring mechanisms for film distribution. Shivaji Athidhi We also distribute through other modes such as DVD, DTH, Satellite, IPTV, Mobile, etc. Seema sastry Lakshyam Chirutha Happy days Kantri Bujjigadu Kotha bangarulokam Ullasamga utsahmaga Chintakayala ravi ‘Ghamyam’ – Smash hit in Telugu MALAYALAM Sound Of Boot Hindi musical blockbuster ‘Om Shanti Om’ Veruthe Oru Bharya

KANNADA ‘Varuthey Oru Bharya’ Godava ‘Saroja’ - Humorous Hit 125 days mega Malayalam hit Awwa ‘Dasavatharam’ – Many Roles one man

Super Star Rajnikanth in ‘Shivaji’ ‘Halla Bol’ Hindi Action Hit 10 I PYRAMID SAIMIRA I Corporate News 2007 - 2008 PYRAMID SAIMIRA I Corporate News 2007 - 2008 I 11 www.reportjunction.com Production

PSPIL - A GREAT LEADER IN THE ENTERTAINMENT MEDIA Pyramid Saimira Production International Ltd. (PSPIL), is a movie production house since June, 2007. It is growing steadily to be one

of the biggest global movie production banner. The Company is a ‘Super Sundari’- Entertaining kids ‘Rekha IPS’ - Revolving story synergy of successful, proven professionals with rich experience and ‘Simran Thirai’ – First of its kind remarkable track-record in the domain. Team PSPIL includes experts at film-making, vetting quality stories, screenplays and at picking skilled Pradesh, Karnataka, and Kerala. It is steadily growing into other technicians. parts of India as well. PSPIL Production houses include state-of- the-art Post-Production facilities, Shooting Equipments, Edit Suits, Dedicated Team for A Library Of Outstanding Stories Recording Theatres, Dubbing Suits and Studios. And Screenplays Besides movie and television content production, the Group is A dedicated team of professionals work to source and store stories committed to acquiring audio titles of all languages. in a library. The library is a storehouse of outstanding stories and screenplays to choose from. It has a collection of over 50 such new stories that can be described novel and creative. TV Content Team library consists of experienced professionals as well as young The Serial Camp of Pyramid Saimira! talents with a knack for vetting stories and screenplays of all regional It is the spectator, and not life, that art really mirrors. Indian languages. PSPIL is also looking at producing films in non- The Picture of Dorian Gray- “Oscar Wilde” ‘Ayudham Seivom’ – Released in 2008 Indian languages as well, involving outstanding technicians from around the world. And so true to the phrase, Television serials that spread a magnetic pull towards its viewer’s nationwide echo’s the same. Audiences Not Only Are Stories Made, Heroes Too Are have become inseparable from the life-like characters on TV serials and they do not miss out on any opportunity to empathize and PSPIL aims not only at pushing the story-line bars, but also at rejoice with their on screen counterparts. The fact those serials introducing new acting talents and technicians to the line. Super stars, have become so binding with the audiences along with their factual the Company believes, are not born. They are made. Production houses characters and imaginative stories weaved together or tainted with and technicians play no less a role in grooming and growing talents that real life anecdotes is testimony enough to prove that they are the reign movie stardom. PSPIL is committed to introducing new talents in ‘Chinta U Turn’- Malay Movie unchallenged money-puller for the small screen. every new project and is all set to revolutionize the Film Industry. Our forth coming releases.. With more than 150 TV channels functioning across India, the Scripted History - Inauguration of 10 Films A Day mantra for survival is CREATIVITY. Plagiarism, intellectual ideas theft and reproduction are words that would never take a Creator PSPIL made a history and set a record in Entertainment Industry by to any greater heights. Hard work, perseverance, sincerity and a will launching TEN film projects on a single day i.e., 5-4-2008. It had the to entertain the mass are what underlie our strength in promoting whole Film Industry in full strength, on a mega stage. The stories came quality TV content. We uphold that creativity coupled with novelty from the Library of Stories. Proven producers and technicians are at and high quality, catering to all classes of society are our pillars of work on them. They are scheduled to arrive in cinemas soon. strength to survive the competition in the Television world.

‘En Iippadi Mayakinai’ The behemoth Scale of Operations Though we took up the two genres of small screen viz., fiction and non-fiction, we have pursued to be unique in the content we PSPIL is a Behemoth in Entertainment Industry, with production generate. Some of our renowned serials are SIMRAN THIRAI, houses spread across the South Indian States of Tamil Nadu, Andhra SIMRAN MARUPURANI KATHALU, REKHA IPS(Completed more than 300 episodes till date), SUPER SUNDARI, CMD with renowned filmmakers at the 10 movies launch RAGASIYAMANATHU KAADHAL, THIRUMAGAL and MAZHALAI PATTALAM. Some of our non-fiction shows are OKKARE, SAREGAMAPA – Voice of Youth, SAREGAMAPA – Little Champs, SAREGAMAPA –Sangeetha Maha Yudhdham ‘Anandam Arambam’ and SWARANERAAJANAM.

‘Vanam Partha Seemayile’

12 I PYRAMID SAIMIRA I Corporate News 2007 - 2008 PYRAMID SAIMIRA I Corporate News 2007 - 2008 I 13 www.reportjunction.com Gaming and Animation

The video game industry is one of the fastest growing segments in the world of entertainment. Game industry revenues have overtaken Hollywood box office revenues in recent years. Aurona, our gaming division based in Hyderabad, is the most prolific and most advanced video game development company in India, having developed video games for a number of leading game publishers in the world. We develop full games from concept to launch for Sony Playstation 2, Sony PSP, Nintendo DS and PC platforms besides providing game programming and art production services for Sony PS3, Xbox360 and Nintendo Wii platforms. Console game development that is inherently many orders of complexity higher than mobile games developed by India’s other game companies makes Aurona the leader in India’s video game industry. In 2008, Aurona shipped of the PC and Online versions of ‘Dancing with the Stars’ game based on one of the most popular TV shows of ABC TV, USA. The game was released by THQ, one of the largest game publishers in the world. Dancing with the Stars is the first international PC game fully developed in India. In December 2008, Aurona also shipped Hanuman: Boy Warrior, India’s first Sony PlayStation 2 game, conceived and developed fully in the country. Sony Computer Entertainment Europe, the publisher of the title will release it in India for the next school holiday season. In December 2008, we also completed Yamaha Supercross, the first Nintendo DS game developed in India. This bike racing game’s publisher is Zoo Games of USA. The world is now truly free! We are also proud of having bagged an order to produce game art for Ride to Hell, a Sony PS3 and XBox 360 title from Deep Silver, a Vienna-based game publisher. This title is built around the Hell’s Angels theme of motorbikes Spize TV, now re-branded Roots-Global, is a Pan-European Direct-To-Home (DTH) Platform that provides and hippie culture, set in the backdrop of 1960’s America. South Asian-specific content to viewers in Europe, Middle East & North Africa. Roots-Global, a part of Pyramid Saimira Group of Companies, is available on EuroBird-9 (EB9 @ 9 degrees East) satellite which allows viewers We also plan to launch a chain of world class video game arcades in our cinemas. to benefit from the 500+ free-to-air channels on the HotBird satellite by a simple dual-LNB upgrade.

Divine music for the pious The Roots-Global “South Indian” bouquet of channels include Tamil, Telugu, Malayalam, Kannada, and The Magic of Music Sinhalese. Plans for Chinese, Malay, Bahasa and Filipino bouquet of Channels are in progress. Roots-Global, for the first time in India, offers viewers the option to choose Channels between the bouquets. This helps both The Pyramid Saimira Audio division brought North and South viewers watch, for example, cricket on TEN Sports and ARY. Similarly, viewers subscribed to out around 14 Music Albums to date, including South bouquet can watch South Indian flicks. devotionals and picks from films. “Beyond Colours” is the latest release from the division. This fusion With the acquisition of World TV, a France Telecom Company, our DTH platform has got an added boost by video album features renowned artists such as Siva way of additional and popular channels like Star, Sony, Geo, Aaj Tak, NDTV and for Pakistani viewers PTV. Mani, Kadrigopalnath, Bigram Ghosh and Renu This is a paid subscriber base and it benefits Roots Global platform to push its services aggressively in this

Our musical super hit Majumdar. The division has secured Singapore competitive market. and Malaysia Rights for the album from Symphony Recording, the biggest devotional music company in South India. The audio division released 12 cartoon Dimples Cine Advertising albums in Hindi as well. “Ninai Premichan” featuring works of Deva, Music Director, is scheduled for Dimples Cine Advertising Private Limited, a Pyramid release. “Putta” a Kannada music album is ready for Saimira Group Company is now also the Marketing launch too. vertical of the entire Pyramid Group of Companies. Besides overseeing the marketing of tele-serials, it will also be responsible for the marketing of Bollywood movies.

The addition of new activities has made the pace at Dimples rather hectic, however, we continue to maintain focus on our core activity of Cinema Advertising. In this vein, we have opened new branches in Nagpur and Madurai and we will also be commencing operations in Rajkot shortly.

Besides this, Dimples cine has strengthened its activations team to keep pace with the growth in the below the line business . 14 I PYRAMID SAIMIRA I Corporate News 2007 - 2008 PYRAMID SAIMIRA I Corporate News 2007 - 2008 I 15 www.reportjunction.com Fun Asia

For an Indian, America always represented an aspiration value. For an American, Asia always represented a mistake. Fun Asia was a concept in which Asian entertainment and food was combined and presented to Asian diaspora as well as mainstream North Americans. Pyramid Saimira Group acquired Fun Asia and currently operates in major cities, multiplexes, food courts, banquet halls, etc. We also operate two drive-in radio stations and a magazine targeting Asian diaspora.

Cineplex in Li Yang, China

Enthralling FunAsia – Our American Operation License from the Government of China Malaysia

Traditionally when South Indians ventured outside India, they settled in Singapore and Malaysia and got imbibed in the respective geography but yet retained the cultural ethos of mainland India. For the overseas market for South Indian films, Malaysia and Singapore represents a huge potential. Pyramid Saimira Group went into these countries not just for Indian films but also to operate as a “Boomiputra” ie.. to operate as a native entertainment company. We own multiplexes in Malaysia, we have produced Malay films, we have distributed and exhibited Indian, Malay, English and Chinese films in Malaysia.

‘Ey Ya O’ Indian cultural show in mainland Beijing - China Inauguration of Cineplex - Li Yang, China

China

Mainland China has always been denoted as the last frontier, more so in media and entertainment. Chinese culture was always inward looking - after all they had the Great Wall of China. Traditionally even though they have opened up, media and entertainment is yet to be fully opened up. Pyramid Saimira Group felt, the next wave of entertainment will come from China. We signed an agreement for cultural cooperation with M/s Chinese Society Music Research Board (CSMRB),

Ministry of Culture, Government of China which included Multiplex in Malaysia cooperation in Cultural industry, Eco system creation, etc.

We also formed a JV in China and our first screen is already operational. We have received an exclusive license to operate a foreign JV in China in the cultural industry – a coveted permission. We took a cultural troupe and performed across China – an extremely rare honour since over two decades no Indian troupe has performed in China.

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