In the first part of this series of papers the author investigates the peculiarities and structure of the graphs of the Khitan Small Script. The graphs are polyvalent, and their phonetic values are based on and reflect the understanding of the Chinese phonetic system of the period. The list of graphs includes allographs and variants, further graphs with the same phonetic value but having different form(s). Some graphs have dotted and nondotted pairs. The Romanisation of the graphs is a convention by modern Chinese and European scholars. In some cases the phonetic value of a given graph is unknown, but its meaning is known; these are called logographs. Dotted forms and the numeric system are also investigated.