| Name                                                             | Place      ofIncorporation  | Ownershipinterestattributable tothe Company |
|------------------------------------------------------------------|-----------------------------|-------------------------------------------------------|
| NCN      Group Limited                                           | British      Virgin Islands | 100%                                                  |
|                                                             |                        |                                                  |
| NCN      Media Services Limited                                  | British      Virgin Islands | 100%                                                  |
|                                                             |                        |                                                  |
| NCN      Travel Services Limited                                 | British      Virgin Islands | 100%                                                  |
|                                                             |                        |                                                  |
| Linkrich      Enterprise Advertising and Investment Limited      | Hong      Kong              | 100%                                                  |
|                                                             |                        |                                                  |
| Crown      Winner International Limited                          | Hong      Kong              | 100%                                                  |
|                                                             |                        |                                                  |
| Cityhorizon      Limited                                         | Hong      Kong              | 100%                                                  |
|                                                             |                        |                                                  |
| NCN      Group Management Limited                                | Hong      Kong              | 100%                                                  |
|                                                             |                        |                                                  |
| Crown      Eagle Investment Limited                              | Hong      Kong              | 100%                                                  |
|                                                             |                        |                                                  |
| Profit      Wave Investment Limited                              | Hong      Kong              | 100%                                                  |
|                                                             |                        |                                                  |
| NCN      Huamin Management Consultancy (Beijing) Company Limited | The      PRC                | 100%                                                  |
|                                                             |                        |                                                  |
| Shanghai      Quo Advertising Company Limited                    | The      PRC                | 100%                                                  |
|                                                             |                        |                                                  |
| Teda      (Beijing) Hotels Management Limited                    | The      PRC                | 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%                                                  |
|                                                             |                        |                                                  |
| Yi      Gao Shanghai Advertising Limited                         | The      PRC                | 100%                                                  |

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