US High Tech Companies(3-year Average) APPLE INC MICROSOFT INTEL ADOBE Siemens Philips Millions (USD) (USD) (USD) (USD) (USD) (USD) Net Sales or Revenues 110,057.7 73,840.7 50,321.0 4,132.0 99,340.6 31,395.2 Cost of Goods Sold 61,767.3 14,768.7 12,698.3 218.2 70,293.2 19,151.1 Gross Profit 46,251.0 56,055.3 31,548.0 3,635.7 29,047.3 12,244.1 % Gross Margin 42.02% 75.91% 62.69% 87.99% 29.24% 39.00% Research & Development 2,530.7 9,755.0 8,358.0 720.4 5,266.3 2,214.4 % of Sales 2.30% 13.21% 16.61% 17.43% 5.30% 7.05% % of Gross Profit 5.47% 17.40% 26.49% 19.81% 18.13% 18.09% 甘洁教授 SGA Expenses 7,718.7 19,004.3 7,345.3 1,793.1 13,987.5 8,056.8 % of Sales 7.01% 25.74% 14.60% 43.40% 14.08% 25.66% Net Income 27,222.7 20,663.7 11,803.7 813.4 6,536.5 168.1 %Net Margin 24.73% 27.98% 23.46% 19.69% 6.58% 0.54% 12 12 甘洁教授

China’s High-Tech Industry: Opportunities & Challenges (Part 3) Page 10 Page 12