<PAGE>

                                                                   EXHIBIT 10.27

              CONTRACT RELATING TO THE EXCLUSIVE PURCHASE RIGHT OF
                                EQUITY INTEREST

                                      AMONG

                                  LINKTONE LTD.

                                       AND

                                    YANG LEI

                                       AND

                       SHANGHAI UNILINK COMPUTER CO., LTD.

                          DATED AS OF NOVEMBER 27, 2003

<PAGE>

                                                                           10.27

                              CONTRACT RELATING TO
               THE EXCLUSIVE PURCHASE RIGHT OF AN EQUITY INTEREST

Contract Relating to the Exclusive Purchase Right of An Equity Interest, dated
as of 27 November, 2003 (this "Contract"), among:

     (1) Linktone Ltd. (the "Lender"),a limited company established and
         registered in Cayman island, with the address at Cayman islands in
         British West Indies

     (2) Yang Lei, Resident of the People's Republic of China (the "PRC"),
         holding the Identification Card of the PRC (No.: 110108570422271), with
         the address at 30B, No. 2, Sun Island City Garden, Henan South Road,
         Shanghai (the "Party B");

     (3) Shanghai Unilink Computer Co., Ltd., a limited liability company
         organized and existing under the laws of the PRC, with the legal
         registration address at Room 154, No.4671, Caoan Road, Jiading District
         , Shanghai (the Party "C").

     As used in this Contract, Party A, Party B, and Party C is "the Party"
     respectively, and "Parties to the Contract" in all.

     WHEREAS,

     1.  Party B has the ownership of 5% equity interest in Party C.

     2.  A loan agreement was entered into Party A and Party B

     3.  Party C and Shanghai Huitong Information Co., Ltd., a 100% owned
         subsidiary company of Party A, entered into a series of contracts such
         as Exclusive Technical Consulting and Services Agreement.

NOW, THEREFORE, the parties to this Contract hereby agree as follows:

1.       Purchase and Sale of Equity Interest

Section 1.1 Authorization

         Party B hereby irrevocably delivers to Party A, under the laws of the
PRC, an irrevocable sole authority ("Purchase Right of Equity Interest") of,
following the steps decided by Party A, and the price specified in Section 1.3
of this Contract, purchasing by Party A or by one or more persons designated by
Party A (the "Designated Persons") at any time from Party B of its all or part
of the equity interest of Party C. Besides Party A and the Designated Persons,
any third party does not have such Purchase Right of Equity Interest. Party C
hereby agrees the delivery of Purchase Right of Equity

<PAGE>

                                                                           10.27

Interest from Party B to Party A. As specified in this Section and this
Contract, the "person" has the meaning of Person, Corporation, Joint Venture,
Partnership, Enterprise, Trust or Non-Corporation Organization.

Section 1.2 Steps

         The performance of Purchase Right of Equity Interest of Party A shall
be upon and subject to the laws and regulations of PRC. Party A shall send a
written notice (the "Notice of Purchase of Equity Interest") to Party B upon its
performance of Purchase Right of Equity Interest, the Notice of Purchase of
Equity Interest shall have in it the following contents:

         (a) Party A's decision of the performance of purchase right;

         (b) The Equity Interest prospected to be purchased by Party A from
             Party B (the "Purchased Equity Interest");

         (c) Purchase Date/Equity Interest Transferring Date.

Section 1.3 Purchase Price

Except as requested by law to evaluate, the price of the Purchased Equity
Interest ("Purchase Price") shall be an equivalent of the actual amount of the
Purchased Equity Interest contributed by Party B.

Section 1.4 Transfer of the Purchased Equity Interest

Every time upon Party A's performance of the Purchase Right of Equity Interest:

(a) Party B shall supervise and urge Party C to convene the shareholders
    meeting, and during the meeting, to pass the decision or resolution to
    transfer the equity interest from Party B to Party A and/or the Designated
    Persons;

(b) Party B shall, upon the terms and conditions of this Contract and the Notice
    of Purchase of Equity Interest, enter into Equity Interest Transfer Contract
    with Party A (or, in applicable situation, the Designated Persons);

(c) The related parties shall execute all other requisite contracts, agreements
    or documents, acquire all requisite approval and consent of the government,
    and, without any security interest, perform all requisite action to transfer
    the valid ownership of the Purchased Equity Interest to Party A and/or the
    Designated Person, and to cause Party A and/or the Designated Person to be
    the registered owner of the Purchased Equity Interest. For this Section and
    this Contract, "Security Interest" has the meaning of security, mortgage,
    right or interest of the third party, any purchase right of equity interest,
    right of acquisition, prior purchase right, right of set-off, ownership
    detainment or other security arrangements. To further define the meaning,

<PAGE>

                                                                           10.27

    it does not include any security interest subject to this Contract or the
    equity interest pledge contract of Party B. As described in this Section and
    this Contract, "the Equity Interest Pledge Contract of Party B" has the
    meaning of the Equity Interest Pledge Contract entered into by Shanghai
    Huitong Information Co., Ltd. and Party B dated as of the execution date of
    this Contract. According to the said Contract, to secure Party C to perform
    the obligations subject to the Exclusive Technology Consulting and Service
    Agreement entered into between Party C and Shanghai Huitong Information Co.,
    Ltd., Party B pledges all its equity interest in Party C to Shanghai Huitong
    Information Co., Ltd..

Section 1.5 Payment

Whereas contemplated in the Loan Contract, any proceeds gained by Party B from
the transfer of its equity interest in Party C shall be used, according to the
Loan Contract, as the payment to its loan borrowed from Party A. Therefore, upon
the performance of the Purchase Right of Equity Interest by Party A, the
Purchase Price shall be used as the payment from Party B to Party A subject to
the loan. Party A does not need pay the Purchase Price to Party B anymore.

2.       Promises Relating Equity Interest

Section 2.1 Promises Relating Party C

Party C hereby promises:

(a) Without prior written consent by Party A or Shanghai Huitong Information
    Co., Ltd., Party A's Affiliate in PRC, not, in any form, to complement,
    change or renew the Articles of the Association of Party C, to increase or
    decrease registered capital of the corporation, or to change the structure
    of the registered capital in any other forms;

(b) Following kind finance and business standard and tradition, to maintain the
    exist of the corporation, prudently and effectively operate business and
    process affairs;

(c) Without prior written consent by Party A or Shanghai Huitong Information
    Co., Ltd., Party A's Affiliate in PRC, not, dated from the execution date of
    this Contract, to sale, transfer, mortgage or dispose in any other form any
    assets, legitimate or beneficial interest of business or income of Party C,
    or to approve any other security interest set on it;

(d) Without prior written notice by Party A, no debt shall take place, be
    inherited, be guaranteed, or be allowed to exist, with the exception of: (i)
    debt from normal or daily business but not from borrowing; (ii) debt having
    been disclosed to Party A or having gained written consent from Party A;

(e) To normally operate all business to maintain the asset value of Party C,
    without doing

<PAGE>

                                                                           10.27

    or otherwise any action that sufficiently affects the operation and asset
    value;

(f) Without prior written consent by Party A or Shanghai Huitong Information
    Co., Ltd., Party A's Affiliate in PRC, not to enter into any material
    contract, with the exception of the contract entered into during the normal
    business ( As in this paragraph, a contract with a value more than a hundred
    thousand Yuan (RMB 100,000) shall be seemed as a material contract);

(g) Without prior written consent by Party A or Shanghai Huitong Information
    Co., Ltd., Party A's Affiliate in PRC, not to provide loan or credit loan to
    anyone;

(h) Upon the request of Party A, to provide all operation and finance materials
    relevant to Party C;

(i) Party C purchases and holds all along insurance from the insurance company
    accepted by Party A, the insurance amount and category shall be the same
    with those held by the companies in the same area, operating the similar
    business and owning the similar properties and assets;

(j) Without prior written consent by Party A or Shanghai Huitong Information
    Co., Ltd., Party A's Affiliate in PRC, not to merger or associate with any
    person, or purchase any Person or invest in any Person;

(k) To notify Party A the occurrence or the probable occurrence of the
    litigation, arbitration or administrative procedure related to the assets,
    business and income of Party C;

(l) In order to keep the ownership of Party C to all its assets, to execute all
    requisite or appropriate documents, do all requisite or appropriate action,
    and advance all requisite or appropriate accusation, or make requisite or
    appropriate plea for all claims;

(m) Without prior written notice by Party A, not to assign stock interests to
    shareholders in any form, but upon the request of Party A, to assign all its
    assignable profits to their own shareholders;

(n) Upon the request of Shanghai Huitong Information Co., Ltd., Party A's
    Affiliate in PRC, to commission any person designated by Shanghai Huitong
    Information Co., Ltd. to be the member of the Board of Directors of Party C;
    and

Section 2.2 Promises Relating Party B

Party B promises:

(a) Without prior written consent by Party A or Shanghai Huitong Information
    Co.Ltd, Party A's Affiliate in PRC, not, dated from the execution date of
    this Contract, to sale, transfer, mortgage or dispose in any other form any
    legitimate or beneficial interest of equity interest, or to approve any
    other security interest set on it, with the exception of the pledge set on
    the equity interest of Party B subject to Equity Interests Pledge Agreement
    of Party B;

<PAGE>

                                                                           10.27

(b) To cause the Board of Shareholders commissioned by it not to approve to,
    with no prior written notice by Party A or Shanghai Huitong Information Co.,
    Ltd., Party A's Affiliate in PRC, and dated from the execution date of this
    Contract, sale, transfer, mortgage or dispose in any other form any
    legitimate or beneficial interest of equity interest, or to approve any
    other security interest set on it, with the exception of the pledge set on
    the equity interest of Party B subject to Equity Interests Pledge Agreement
    of Party B;

(c) To cause the Board of Shareholders commissioned by it not to approve Party C
    to, with no prior written notice by Party A or Shanghai Huitong Information
    Co., Ltd., Party A's Affiliate in PRC, merger or associate with any person,
    or purchase any person or invest in any person;

(d) To notify Party A the occurrence or the probable occurrence of the
    litigation, arbitration or administrative procedure related to the equity
    interest owned by it;

(e) To cause the Board of Shareholders commissioned by it to vote to approve the
    transfer of the Purchased Equity Interest subject to this Contract;

(f) In order to keep its ownership of the equity interest, to execute all
    requisite or appropriate documents, do all requisite or appropriate action,
    and advance all requisite or appropriate accusation, or make requisite or
    appropriate plea for all claims;

(g) Upon the request of Shanghai Huitong Information Co., Ltd., Party A's
    Affiliate in PRC, to commission any person designated by Shanghai Huitong
    Information Co., Ltd. to be the member of the Board of Directors of Party C;

(h) Upon the request of Party A at any time, to immediately transfer its equity
    interest to the representative designated by Party A unconditionally and at
    any time, and abandon its prior purchase right of such equity interest
    transferring to another available shareholder;

(i) To prudently comply with the terms and conditions of this Contract and other
    contracts entered into totally or respectively by Party B, Party C and Party
    A and Shanghai Huitong Information Co., Ltd., to actually perform all
    obligations under these contracts, without doing or otherwise any action
    that sufficiently affects the validity and enforceability of these
    contracts;

3.       Representations and Warranties

Representations and Warranties of Party B and Party C

Dated as of the execution date of this Contract and every transferring date,
Party B and Party C hereby represents and warrants together and respectively to
Party A as follows:

(a) It has the power and ability to enter into and deliver this Contract, and
    any equity interest transferring contract ("Transferring Contract",
    respectively) having it as a

<PAGE>

                                                                           10.27

    party, for every single transfer of the purchased equity interest according
    to this Contract, and to perform its obligations under this Contract and any
    Transferring Contract. Upon execution, this Contract and the Transferring
    Contracts having it as a party constitute a legal, valid and binding
    obligation of it enforceable against it in accordance with its terms;

(b) The execution, delivery of this Contract and any Transferring Contract and
    performance of the obligations under this Contract and any Transferring
    Contract do not: (i) cause to violate any relevant laws of PRC; (ii)
    constitute a conflict with its Articles of Association or other
    organizational documents; (iii) cause to breach any contract or instruments
    to which it is a party or having binding obligation on it, or cause to
    breach any contract or instruments to which it is a party or having binding
    obligation on it; (iv) cause to violate relevant authorization of any
    consent or approval to it and/or any continuing valid condition; or (v)
    cause any consent or approval authorized to it to be suspended, removed, or
    into which other requests be added;

(c) Party C bears sellable ownership of all assets. Party C does not set any
    security interest on the said assets;

(d) Party C does not have any undischarged debt, with the exception of (i) debt
    from its normal business; and (ii) debt having been disclosed to Party A and
    having gained written consent from Party A;

(e) Party C abides by all laws and regulations applicable to the purchase of
    assets;

(f) No litigation, arbitration or administrative procedure relating to equity
    interest, assets of Party C or the corporation is underway or to be decided
    or to probably take place;

4.       Effective Date

         This Contract shall be effectively dated from the execution date, with
         the term of effect as 10 years, and can be extended to another 10 years
         by the choice of Party A.

5.       Applicable Law and Dispute Resolution

Section 5.1 Applicable Law

The execution, validity, construing and performance of this Contract, and
resolution of the disputes under this Contract, shall be in accordance with the
laws of PRC.

Section 5.2 Dispute Resolution

Any dispute arising from the construing and performance of this Contract shall
be settled through friendly consultation between the parties of this Contract.
If no settlement can be reached through such consultation within thirty (30)
days after the date of the written notice sent by one party to the other
requesting to settle the dispute, then each of the

<PAGE>

                                                                           10.27

parties shall have the right to refer the matter to China International Economic
and Trade Arbitration Commission, for settlement by arbitration according to the
its valid arbitration rules at the appointed time. The arbitration shall take
place in Shanghai. The arbitration result is final, and is binding to both
parties of this Contract.

6.       Taxes and Expenses

Every party shall, according to laws of PRC, bear any and all transferring and
registering taxes, costs and expenses for the preparation and execution of this
Contract and all Transferring Contracts, and those arising from or imposed on
the party, to complete the transactions of this Contract and all Transferring
Contracts.

7.       Notices

This Contract requests that notices or other communications sent by any party or
corporation shall be written in Chinese, and be delivered in person, by mail or
telecopy to other parties at the following addresses or other specified
addresses noticed by other parties to the party. The date deemed to be duly
given or made shall be confirmed as follows: (a) for notices delivered in
person, the date of delivery shall be deemed as having been duly given or made;
(b) for notices delivered by mail, the tenth day of the delivery date of air
certified mail with postage prepaid (as shown on stamp) shall be deemed as
having been duly given or made; and (c) for notices by telecopy, the receipt
date showed on the delivery confirming paper of the relevant document shall be
deemed as having been duly given or made.

Party A: Linktone Ltd
Address: Cayman islands, British West indies

Party B:Yang Lei
Address: Sun Island City Garden, Henan South Road, Shanghai

Party C: Shanghai Unilink Computer Co., Ltd ,
Address: Room 154, No.4671, Caoan Road, Jiading District , Shanghai

8.       Confidentiality

The parties admit and confirm any oral or written materials exchanged by the
parties relating to this Contract are confidential. The parties shall maintain
the secrecy and confidentiality of all such materials. Without written approval
by the other party, the party shall not disclose to any third party any relevant
materials, but with the exception of the following: (a) the public know or may
know such materials (but not disclosed by the

<PAGE>

                                                                           10.27

party accepting the materials); (b) materials needed to be disclosed subject to
ordinance or listing rules or precedents of the united transaction firm; or (c)
any party necessarily discloses materials to its legal or financial consultant
relating the transaction of this Contract, and this legal or financial
consultant shall have the obligation of confidentiality similar to that set
forth in this Section. The breach of the obligation of confidentiality by staff
or employed institution of any party shall be deemed as the breach of such
obligation by that party, and by whom the liabilities for breach shall be bored.
No matter this Contract may terminate by any reason, this Section shall continue
in force and effect.

9.       Further Warranties

The parties to the Contract agree to promptly execute documents reasonably
requisite to the performance of the provisions and the aim of this Contract or
documents beneficial to it, and to take actions reasonably requisite to the
performance of the provisions and the aim of this Contractor actions beneficial
to it.

10.      Miscellaneous

Section 10.1 Amendment, Modification and Supplement

Upon amendment, modification and supplement of this Contract shall be subject to
the written agreement executed by each party.

Section 10.2 Observance of Laws and Regulations

The parties of the contract shall observe and make sure the operation of each
party fully observe all laws and regulations of PRC officially published and
publicly gainable.

Section 10.3 Entire Contract

Except the written amendment, supplement and modification of this Contract
following the date of execution, this contract and attachments 1 constitute the
entire contract of the parties hereto with respect to the object hereof and
supersedes all prior oral or written agreements, representation and contracts
with respect to the object hereof.

Section 10.4 Headings

The headings contained in this Contract are for convenience of reference only
and shall not affect the interpretation, explanation or in any other way the
meaning of the provisions of this Contract.

<PAGE>

                                                                           10.27

Section 10.5 Language

This Agreement is executed in both Chinese and English forms in triplicate, and
in case of conflicts, the Chinese version shall prevail.

Section 10.6 Separability

If any one or more provisions of this Contract are judged as invalid, illegal or
non-enforceable in any way according to any laws or regulations, the validity,
legality and enforceability of other provisions hereof shall not be affected or
impaired in any way. All parties shall, through sincere consultation, urge to
replace those invalid, illegal or non-enforceable provisions with valid ones,
and from such valid provisions, similar economic effects shall be tried to reach
as from those invalid, illegal or non-enforceable provisions.

Section 10.7 Successor

This Contract shall bind and benefit the successor of each party and the
transferee allowed by each party.

Section 10.8 Survival

(a) Any obligation taking place or at term hereof prior to the end or
    termination ahead of the end of this Contract shall continue in force and
    effect notwithstanding the occurrence of the end or termination ahead of the
    end of the Contract.

(b) Section 5, Section 7 and Section 8 hereof shall continue in force and effect
    after the termination of this Contract.

Section 10.9 Waiver

Any party to this Contract may waive the terms and conditions of this Contract.
Such waiver shall be valid only if set forth in an instrument in writing signed
by the party or parties to be bound thereby. Any waiver by a party to the breach
hereof by other parties in certain situation shall not be construed as a waiver
to any similar breach by other parties in other situation.

IN WITNESS THEREFORE, the parties hereof have caused this Contract to be
executed by their duly authorized representatives as of the date first written
above.

<PAGE>

                                                                           10.27

Party A: Linktone Ltd.

By: /s/ Jun Wu
Name:
Title:

Party B: Yang Lei (ID Card : 110108570422271 )

By: /s/ Yang Lei

Party C: Shanghai Unilink Computer Co., Ltd.
By: /s/ Raymond Lei Yang
Name:
Title: