分众传媒报表

FocusMediaHoldingLimitedFocusMediaHoldingLimitedAnnualReport2009AnytimeAnywhereAnyscreen...FocusMediaHoldingLimitedAnnualReport2009ABolderVisionAFocusedVision2CorporateInformation3BasisofPresentation4SelectedFinancialData9Management’sDiscussionandAnalysis57ReportofIndependentRegisteredPublicAccountingFirm58ConsolidatedBalanceSheets60ConsolidatedStatementsofOperations62ConsolidatedStatementsofChangesinEquityandComprehensiveIncome(Loss)64ConsolidatedStatementsofCashFlows66NotestotheConsolidatedFinancialStatementsForLong-TermSuccessContentsFocusMediaHoldingLimitedAnnualReport20092CorporateInformationManagementJasonNanchunJiangChairmanandChiefExecutiveOfficerKitLeongLowChiefFinancialOfficerAlexDeyiYangGeneralManagerCindyYanChanChiefStrategyOfficerCarmenYafangTuSeniorVicePresidentMichaelGeXuVicePresidentofFinanceJulyLilinWangFinancialControllerBoardofDirectorsJasonNanchunJiangFounder,ExecutiveChairmanoftheBoardofDirectors,FocusMediaCharlesGuoWeiCaoChiefExecutiveOfficer,SINACorporationAlexDeyiYangGeneralManager,FocusMediaNeilNanpengShen*(1)FoundingManagingPartner,SequoiaCapitalChinaFuminZhuo*(1)GeneralPartner,SIGCapitalLimitedDaqingQi*(1)ProfessorofAccountingandAssociateDean,TheCheongKongGraduateSchoolofBusinessDavidZhang*(1)ManagingdirectorandheadoftheBeijingOfficeofWIHarperYingWu*(1)FounderofUTStarcom*IndependentDirector(1)Amemberofourauditcommittee,compensationcommitteeandnominationcommitteeDepositaryforAmericanDepositarySharesCitibank,N.A388GreenwichStreet14thFloorNewYork,NY10013USATransferAgentDexiaCorporateServicesHongKongLtd.51/FCentralPlaza18HarbourRoadWanchaiHongKongU.S.LegalCounselSimpsonThacher&BartlettLLPICBCTower,35thFloor3GardenRoadHongKongIndependentAccountantDeloitte&Touche30/FBundCenter222YanAnRoadEastShanghai,200002PRCCorporateHeadquarters28-30/F,ZhaofengWorldTradeTower369JiangsuRoad,200050ShanghaiPeople’sRepublicofChina(86)213212-4661InvestorRelations+86-21-22164155Ir.focusmedia.cnAnnualMeetingFocusMediawillhostits2010annualgeneralshareholdermeetingonNov26,2010Beijingtimeatitscorporateheadquartersatthefollowingaddress:28/F,ZhaofengWorldTradeTower369JiangsuRoad,200050ShanghaiPeople’sRepublicofChinaFocusMediaHoldingLimitedAnnualReport2009BasisofPresentation3OnSeptember30,2009,weannouncedthatweandSINACorporation(“SINA”)jointlyreachedadecisiontonotextendthedeadlineoftheagreementannouncedonDecember22,2008,bywhichtheCompanyagreedtosellasubstantialmajorityoftheassetsofFocusMedia’sadvertisingnetworksincludingLCDdisplaynetworks,in-storenetworksandposterframesnetworks.Accordingly,wecontinuetoownandoperatetheassetsthatwerethesubjectoftheoriginalpurchaseandsaleagreementandaccountforthoseoperationsinourcontinuingoperationsinaccordancewithU.S.GAAPinourauditedfinancialstatementsforallperiodspresented.Asaresultofregulatoryandmarketchangesin2008,wedisposedofthemobilehandsetadvertisingservicesegment.Theresultsofoperationsforthesegmenthavebeenpresentedasdiscontinuedoperationsforallperiodspresented.OnDecember9,2008,weannouncedthedisposalofourCGENin-storeadvertisingnetwork.CGENhasbeenrecordedwithinourcontinuingoperationsaswehaveretainedcontinuinginvolvementbyretainingassetsfromCGENforsimilaruseafterthedisposaltransaction.Inaddition,aspreviouslyannounced,inthethirdquarterof2009,wereducedourequityinterestsincertainunderperformingsubsidiariesinourInternetsegmentandsubsequentlycompletelydisposedofourinterestinthosesubsidiariesinthefourthquarterof2009.TheresultsofoperationsofthesesubsidiarieshavebeenaccountedforasdiscontinuedoperationsinaccordancewithU.S.GAAP.FocusMediaHoldingLimitedAnnualReport2009SelectedFinancialData4ThefollowingselectedconsolidatedstatementofoperationsdatafortheyearsendedDecember31,2007,2008,and2009andtheconsolidatedbalancesheetdataasofDecember31,2008,and2009havebeenderivedfromourauditedconsolidatedfinancialstatements,whichareincludedelsewhereinthisannualreport.OurconsolidatedfinancialstatementsarepreparedandpresentedinaccordancewithU.S.GAAP.Thehistoricalresultsarenotnecessarilyindicativeofresultstobeexpectedinanyfutureperiod.OurselectedconsolidatedstatementofoperationsdatafortheyearsendedDecember31,2005and2006andourconsolidatedbalancesheetsasofDecember31,2005,2006,and2007havebeenderivedfromourauditedconsolidatedfinancialstatements,whicharenotincludedinthisannualreport.Theselectedconsolidatedfinancialinformationfortheperiodsandasofthedatesindicatedshouldbereadinconjunctionwithourfinancialstatementsandtheaccompanyingnotesand“Item5.OperatingandFinancialReviewandProspects”.InApril2005,wecommencedcommercialoperationsofourin-storenetworkandthroughouracquisitionofFramedia,wecommencedoperationofourposterframenetworkonJanuary1,2006.InFebruary2006,weacquiredTargetMediaandinMarch2006,weacquiredFocusMediaWireless.InMarch2007,weacquiredAllyes.InJanuary2008,weacquiredCGEN.InDecember2008,wedisposedofourin-storeadvertisingoperationsofCGEN,whichresultedina$190.5milliondisposalloss.Alsoin2008,thedisposalofourmobilehandsetadvertisingbusinessduetochangesinmarketconditionsandtheregulatoryenvironmentresultedinalossfromd