Exhibit 8.1  List of Subsidiaries of Funtalk China
Holdings Limited  Wholly-Owned Subsidiaries
  
  Place of Incorporation1.
  
  Pypo Digital Company Limited
  
  Cayman Islands2.
  
  Pypo Holdings (HK) Company Limited
  
  Hong Kong3.
  
  Beijing Funtalk Century Technology Group Company
  Limited
  
  PRC4.
  
  Beijing Funtalk Century Telecommunications
  Equipment RetailChain
  Co., Ltd.
  
  PRC5.
  
  Beijing Dongdian Infinity Technology
  Co., Ltd.
  
  PRC6.
  
  Heilongjiang PYPO Digital Technology Co., Ltd.
  
  PRC7.
  
  Shenyang PYPO Technology Co., Ltd.
  
  PRC8.
  
  Shandong PYPO Digital Technology Co., Ltd.
  
  PRC9.
  
  Shanxi PYPO Technology Co., Ltd.
  
  PRC10.
  
  Jilin PYPO Technology Co., Ltd.
  
  PRC11.
  
  Inner Mongolia PYPO Technology Co., Ltd.
  
  PRC12.
  
  Beijing PYPO Communications Technology
  Co., Ltd.
  
  PRC13.
  
  Shanghai PYAO Digital Technology Co., Ltd.
  
  PRC14.
  
  Anhui PYPO Electronics Co., Ltd.
  
  PRC15.
  
  Zhejiang PYPO Digital Technology Co., Ltd.
  
  PRC16.
  
  Nanjing PYAO Technology Co., Ltd.
  
  PRC17.
  
  Sichuan Huasong PYPO Digital Technology
  Co., Ltd.
  
  PRC18.
  
  Chongqing PYPO Digital Technology Co., Ltd.
  
  PRC19.
  
  Gansu PYPO Digital Technology Co., Ltd.
  
  PRC20.
  
  Guizhou PYPO Technology Co., Ltd.
  
  PRC21.
  
  Jiangxi PYPO Technology Co., Ltd.
  
  PRC22.
  
  Guangxi PYPO Communications Equipment
  Co., Ltd.
  
  PRC23.
  
  Fujian PYPO Technology Co., Ltd.
  
  PRC24.
  
  Beijing Yitong Shenglian Investment Consulting
  Co., Ltd.
  
  PRC25.
  
  Guangdong PYPO Technology Co., Ltd.
  
  PRC


26.
  
  Shenzhen PYPO Communications Equipment
  Co., Ltd.
  
  PRC27.
  
  Jiangsu PYPO Technology Co., Ltd.
  
  PRC28.
  
  Guangzhou Guanzhilin Communication Equipments
  Chain Co., Ltd.
  
  PRC29.
  
  Beijing Yipai Innovation Technology Development
  Co., Ltd.
  
  PRC30.
  
  Beijing Funtalk Century Commercial and Trade
  Co., Ltd.
  
  PRC31.
  
  Shenyang Funtalk Telecommunication Equipment
  Co., Ltd.
  
  PRC32.
  
  Beijing Yipai Telecommunications Technology
  Co., Ltd.
  
  PRC33.
  
  Beijing Guanzhilin Telecommunications Technology
  Co., Ltd.
  
  PRC34.
  
  Shanghai Lezhiyu Telecommunications Equipment
  Co., Ltd.
  
  PRC35.
  
  Inner Mongolia Chuangxin Zhongyu Shidai Mobile
  Phones Marketing & Management Co., Ltd.
  
  PRC36.
  
  Jiangsu Guanzhilin Mobile Phones Hypermarket Co., Ltd.
  
  PRC37.
  
  Hunan Feon Telecommunications Technology
  Co., Ltd.
  
  PRC38.
  
  Kunming Golden Broadway Technology Development
  Co., Ltd.
  
  PRC39.
  
  Henan Xinya Telecommunications Equipment
  Co., Ltd.
  
  PRC40.
  
  Hebei Guoxun Huifang Telecommunications Equipment
  Co., Ltd.
  
  PRC41.
  
  Beijing Zhongshi Pypo Cinema Cultural
  Co., Ltd.
  
  PRC42.
  
  Beijing Funtalk Communication Chain Shu Yang
  Procurement Center Co., Ltd.
  
  PRC  2


Affiliated Entities
  
  Place of Incorporation43.
  
  Cangzhou Guoxun Huifang Telecommunications
  Equipment Co., Ltd.
  
  PRC44.
  
  Langfang Guoxun Huifang Telecommunications
  Equipment Co., Ltd.
  
  PRC45.
  
  Zhangjiakou Guoxun Huifang Telecommunications
  Equipment Co., Ltd.
  
  PRC46.
  
  Handan Guoxun Huifang Telecommunications
  Equipment Co., Ltd.
  
  PRC47.
  
  Tangshan Guoxun Huifang Telecommunications
  Equipment Co., Ltd.
  
  PRC48.
  
  Kaifeng Xinya Telecommunications Equipment Co., Ltd.
  
  PRC49.
  
  Anyang Xinya Telecommunications Equipment Co., Ltd.
  
  PRC50.
  
  Liuyang Feon Telecommunications Technology Co., Ltd.
  
  PRC51.
  
  Zhuzhou Feon Telecommunications Technology Co., Ltd.
  
  PRC52.
  
  Yiyang Feon Telecommunications Technology Co., Ltd.
  
  PRC53.
  
  Chenzhou Feon Telecommunications Technology Co., Ltd.
  
  PRC54.
  
  Zhangjiajie Feon Telecommunications Technology Co., Ltd.
  
  PRC55.
  
  Suzhou Guanzhilin Trading Co., Ltd.
  
  PRC56.
  
  Yantai Runlin Trading Co., Ltd.
  
  PRC57.
  
  Taicang Guanzhilin Mobile Phones Hypermarket Co., Ltd.
  
  PRC58.
  
  Kunshan Guanzhilin Mobile Phones Hypermarket
  Co., Ltd.
  
  PRC59.
  
  Wuxi Guance Communication Equipment Co., Ltd.
  
  PRC60.
  
  Nanjing Guanzhilin Pengshi Mobile Phones
  Hypermarket Co., Ltd.
  
  PRC61.
  
  Yangzhou Shenglin Guanzhilin Mobile Phones
  Hypermarket Co., Ltd.
  
  PRC62.
  
  Yancheng Guanzhilin Mobile Phones Hypermarket
  Co., Ltd.
  
  PRC63.
  
  Xuzhou New Guanzhilin Mobile Phones Hypermarket
  Co., Ltd.
  
  PRC64.
  
  Nantong Guanzhilin Mobile Phones Hypermarket Co., Ltd.
  
  PRC65.
  
  Taizhou Hailing Guanzhilin Mobile Phones
  Hypermarket Co., Ltd.
  
  PRC66.
  
  Heze Guanzhilin Communication Equipment Co., Ltd.
  
  PRC67.
  
  Zaozhuang Guanzhilin Communication Equipment Co., Ltd.
  
  PRC68.
  
  Jining Guanzhilin Mobile Phones Hypermarket Co., Ltd.
  
  PRC69.
  
  Dongying Guanzhilin Mobile Phones Hypermarket
  Co., Ltd.
  
  PRC70.
  
  Binzhou Guanzhilin Communication Equipment Co., Ltd.
  
  PRC  3


71.
  
  Zibo Yanglin Guanzhilin Mobile Phones Hypermarket
  Co., Ltd.
  
  PRC72.
  
  Jiangsu Guanzhilin Mobile Phones Hypermarket
  Rizhao Co., Ltd.
  
  PRC73.
  
  Taian Xinxin Guanzhilin Mobile Phones
  Hypermarket Co., Ltd.
  
  PRC74.
  
  Dezhou New Guanzhilin Mobile Phones Hypermarket
  Co., Ltd.
  
  PRC75.
  
  Weifang Yuandu Guanzhilin Mobile Phones
  Hypermarket Co., Ltd.
  
  PRC76.
  
  Shandong Guanzhilin Mobile Phones Hypermarket
  Co., Ltd.
  
  PRC77.
  
  Qingdao Yanglin Guanzhilin Mobile Phones
  Hypermarket Co., Ltd.
  
  PRC78.
  
  Shanxi Guanzhilin Mobile Phones Hypermarket Co., Ltd.
  
  PRC79.
  
  Datong Guanzhilin Commercial Trading Co., Ltd.
  
  PRC80.
  
  Shanghai Guanzhilin Communication Equipment Co., Ltd.
  
  PRC81.
  
  Changshu Guanzhilin Mobile Phones Hypermarket
  Co., Ltd.
  
  PRC82.
  
  Gansu Guanzhilin Communication Equipment Co., Ltd.
  
  PRC83.
  
  Huhhot Guanzhilin Communication Equipment Co., Ltd.
  
  PRC84.
  
  Shuyang Guanzhilin Communication Equipment Co., Ltd.
  
  PRC85.
  
  Huhhot Chuangxin Zhongyu Shidai Mobile Phones
  Marketing & Management Co., Ltd.
  
  PRC86.
  
  Shanghai
  Xieheng Commercial Co., Ltd.
  
  PRC87.
  
  Shanghai
  Xieheng Electronic Products Co., Ltd.
  
  PRC88.
  
  Qingdao
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC89.
  
  Weifang
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC90.
  
  Shandong
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC91.
  
  Zoucheng
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC92.
  
  Zaozhuang
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC93.
  
  Zibo Xieheng
  Telecommunications Equipment Co., Ltd.
  
  PRC94.
  
  Dongying
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC95.
  
  Rizhao
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC96.
  
  Weihai
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC97.
  
  Hefei
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC98.
  
  Wuhu Xieheng
  Telecommunications Equipment Co., Ltd.
  
  PRC99.
  
  Huainan
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC  4


100.
  
  Zhejiang
  Funtalk Telecommunications Equipment Co., Ltd.
  
  PRC101.
  
  Hangzhou
  Xieheng Wanzhou Telecommunications Equipment Co., Ltd.
  
  PRC102.
  
  Jiaxing
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC103.
  
  Jiashan Xieheng
  Telecommunications Equipment Co., Ltd.
  
  PRC104.
  
  Hunan
  Xieheng Mobile Telecommunications Equipment Co., Ltd.
  
  PRC105.
  
  Huaihua
  Xieheng Mobile Telecommunications Equipment Co., Ltd.
  
  PRC106.
  
  Suzhou
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC107.
  
  Zhangjiagang
  Xieheng Mobile Telecommunications Equipment Co., Ltd.
  
  PRC108.
  
  Guangzhou
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC109.
  
  Guangzhou
  Xieheng Telecommunications Device Co., Ltd.
  
  PRC110.
  
  Guangzhou
  Xieheng Electronic Co., Ltd.
  
  PRC111.
  
  Foshan
  Xieheng Electronic Telecommunications Equipment Co., Ltd.
  
  PRC112.
  
  Qingyuan
  Xieheng Electronic Co., Ltd.
  
  PRC113.
  
  Yingde
  Xieheng Electronic Co., Ltd.
  
  PRC114.
  
  Zhaoqing
  Xieheng Telecommunications Device Co., Ltd.
  
  PRC115.
  
  Zhanjiang
  Xieheng Electronic Equipment Co., Ltd.
  
  PRC116.
  
  Zhanjiang
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC117.
  
  Zhongshan
  Xieheng Electronic Co., Ltd.
  
  PRC118.
  
  Shenzhen
  Xieheng Electronic Co., Ltd.
  
  PRC119.
  
  Heyuan
  Xieheng Electronic Co., Ltd.
  
  PRC120.
  
  Chongqing
  Xieheng Telecommunications Equipment Co., Ltd.
  
  PRC121.
  
  Suzhou Yipai
  Telecommunications Equipment Co., Ltd.
  
  PRC122.
  
  Yantai
  Funtalk Telecommunications Equipment Co., Ltd.
  
  PRC123.
  
  Laiwu
  Funtalk Telecommunications Equipment Co., Ltd.
  
  PRC124.
  
  Shuyang
  Funtalk Telecommunications Equipment Co., Ltd.
  
  PRC125.
  
  Wujiang Guanzhilin Mobile Phones Hypermarket Co., Ltd.
  
  PRC  5