FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Investments Measured at Fair Value on Recurring Basis

As of December 31, 2011 and 2012, information about inputs into the fair value measurements of the Company's assets and liabilities that are measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows:

	Fair Value Measurements at Reporting Date Using
Description	Balance as of December 31, 2011		Quote Prices in Active market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Foreign exchange forward contracts		64,954,682		-		64,954,682		-
Capped call options		16,408,445		-		-		16,408,445

Liabilities:
Foreign exchange forward contracts		5,524,497		-		5,524,497		-
Convertible senior notes		387,777,235		-		-		387,777,235

	Fair Value Measurements at Reporting Date Using
Description	Balance as of December 31, 2012		Quote Prices in Active market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Foreign exchange forward contracts		12,930,159		-		12,930,159		-
Capped call options		16,131,208		-		-		16,131,208

Liabilities:
Foreign exchange forward contracts		5,490,630		-		5,490,630		-
Convertible senior notes		483,581,668		-		-		483,581,668

Reconciliation of Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs

A summary of changes in Level 3 fair value of convertible senior notes for the year ended December 31, 2012 was as follows:

Balance at January 1, 2012	387,777,235
Foreign exchange gain	(1,047,241	)
Change in fair value of convertible senior notes	96,851,674
Balance at December 31, 2012	483,581,668

A summary of changes in Level 3 fair value of Capped call options for the year ended December 31, 2012 was as follows:

Balance at January 1, 2012	16,408,445
Foreign exchange gain	31,815
Change in fair value of capped call options	(309,052	)
Balance at December 31, 2012	16,131,208

Schedule of Change in Fair Value of Derivatives

The Change in fair value of derivatives recognized in earnings was as follows:

	For the year ended December 31,
	2010		2011			2012
	RMB		RMB			RMB
Foreign exchange forward contracts		98,039,341		36,604,889			(9,043,079	)
Embedded derivatives		54,938		-			-
Convertible senior notes		-		398,030,217			(96,851,674	)
Capped call options		-		(98,282,510	)		(309,052	)
Total		98,094,279		336,352,596			(106,203,805	)

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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