EXHIBIT 12.1
NETEASE.COM, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the Six Months
For the Year Ended December 31, Ended June 30,
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1998 1999 2000 2001 2002 2002 2003 2003
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RMB RMB RMB RMB RMB USD RMB USD
(Note) (Note)
Fixed Charges:
Interest ................... -- -- 2,589,735 9,882,874 1,401,041 169,257 --
One-third of rental
expenses .................. -- 133,333 2,300,000 2,933,333 2,455,581 296,654 1,177,831 142,291
Total fixed charges ... -- 133,333 4,889,735 12,816,207 3,856,622 465,911 1,177,831 142,291
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Earnings:
Profit (loss) before tax ... 367,201 (51,902,915) (169,268,799) (233,163,914) 13,905,750 1,679,925 150,766,816 18,213,832
Fixed charges .............. -- 133,333 4,889,735 12,816,207 3,856,622 465,911 1,177,831 142,291
Capitalized interest ...... -- -- -- -- -- -- -- --
Total earnings ......... 367,201 (51,769,582) (164,379,064) (220,347,707) 17,762,372 2,145,836 151,944,647 18,356,123
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Ratio of Earnings to
Fixed Charges: ................ N/A N/A N/A N/A 4.61 4.61 129.00 129.00
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Earnings Which Would
Have Been Required to
Achieve a Ratio of 1:1: ....... -- 51,902,915 169,268,799 233,163,914 -- -- -- --
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Note: The conversion of RMB into U.S. dollars is based on the noon buying
rate of USD1.00=RMB8.2776 on June 30, 2003 in The City of New York for
cable transfers of RMB as certified for customs purposes by the Federal
Reserve Bank of New York. No representation is made that the RMB amounts
could have been, or could be, converted into U.S. dollars at that rate on
June 30, 2003, or at any other rate.