| Name                                                                       | Place      ofIncorporation  | Ownershipinterestattributable tothe Company |
|---------------------------------------------------------------------------------|-----------------------------|-------------------------------------------------------|
| NCN      Group Limited                                                          | British      Virgin Islands | 100%                                                  |
| NCN      Media Services Limited                                                 | British      Virgin Islands | 100%                                                  |
| Crown      Winner International Limited                                    | Hong      Kong              | 100%                                                  |
| Cityhorizon      Limited                                                        | Hong      Kong              | 100%                                                  |
| NCN      Group Management Limited                                          | Hong      Kong              | 100%                                                  |
| NCN      Huamin Management Consultancy (Beijing) Company      Limited | The      PRC                | 100%                                                  |
| Shanghai      Quo Advertising Company Limited                              | The      PRC                | 100%                                                  |
| Xuancaiyi      (Beijing) Advertising Company Limited                       | The      PRC                | 51%                                                   |
| Teda      (Beijing) Hotels Management Limited                              | The      PRC                | 100%                                                  |
| NCN      Travel Services Limited                                                | British      Virgin Islands | 100%                                                  |
| Linkrich      Enterprise Advertising and Investment Limited                | Hong      Kong              | 100%                                                  |
| Cityhorizon      Limited                                                        | British      Virgin Islands | 100%                                                  |
| Huizhong      Lianhe Media Technology Co., Ltd                             | The      PRC                | 100%                                                  |
| Beijing      Huizhong Bona Media Advertising Co., Ltd.                     | The      PRC                | 100%                                                  |
| Huizhi      Botong Media Advertising Beijing Co., Ltd                      | The      PRC                | 100%                                                  |
| Crown      Eagle Investment Limited                                             | Hong      Kong              | 100%                                                  |
| Profit      Wave Investment Limited                                             | Hong      Kong              | 100%                                                  |
| Qingdao      Zhongan Boyang Advertising Co., Ltd.                          | The      PRC                | 60%                                                   |

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