Document:

EX-4.86

 Exhibit 4.86 

[Translation of Chinese Original] 
 Share
Transfer Agreement 
 This Equity Transfer Agreement (hereinafter referred to as “This Agreement”) is entered into by the following Parties in
Beijing, the People’s Republic of China (hereinafter referred to as “China”) on June 20, 2014: 
 Transferor 

1. Zhang Lei, a Chinese citizen, ID card no.: 11010219690528111X; 

2. Wang Tianxing, a Chinese citizen, ID card no.: 110108196810109016; 

3. Wang Wenjun, a Chinese citizen, ID card no.: 110108197410028991; 

4. Shen Shizhou, a Chinese citizen, ID card no.: 110108196911148954. 

Transferee: Beijing Super TV Co., Ltd., a wholly foreign-owned corporation duly registered and validly surviving according to laws of China; registered
address: Room 406, 4/F, Tower B, Jingmeng High-tech Building, No. 5 -2 Shangdi East Road, Haidian District, Beijing. 
 The Transferor and Transferee
are each referred to as “Party” and collectively as “Parties”. 
 Definitions 

Unless otherwise specified below in this Agreement, the following words express the following meanings: 

Subject Company indicates the Beijing Novel-Super Digital TV Technology Co., Ltd., a limited liability company duly registered and validly surviving according
to laws of China, whose registered address: Room 402, 4/F, Tower B, Jingmeng High-tech Building, No. 5 -2 Shangdi East Road, Haidian District, Beijing; 

Transfer subject indicates the 100% stock equity of the subject company held by the Transferor. 

Whereas: 
 1. The subject company is a limited liability
company duly registered and validly surviving according to laws of China with a registered and paid-in capital of RMB 150million. See Annex I for equity structure of the subject company on the date of signing this Agreement. Among which,
shareholding ratio of the Transferor is 100%. 
 2. The Transferor intends to transfer the 100% stock equity of the subject company to the Transferee and the
Transferee intends to buy the total 100% stock equity of the subject company held by the Transferor. 
 Hereby, according to provisions of relevant Chinese
laws, regulations and rules, the Parties, following the voluntariness, fairness, honesty and credibility principles and through friendly consultations, have reached a consensus on relevant matters of the Transferor transferring the 100% stock equity
of the subject company to the Transferee and signed this Agreement as follows: 

 Article I Transfer subject 

1.1 Transfer subject of this Agreement is the 100% stock equity of the subject company held by the Transferor. 

The Transferor agrees to transfer the transfer subject to the Transferee. 

1.2 Total subscribed capital (RMB 150 million) of the transfer subject held by the Transferor has been paid in full. 

1.3 The transfer subject has no guarantee in any other forms except all the pledges to the Transferee when signing this Agreement, including but not limited to
any other pledges or any other restrictions or obligations set on the transfer subject affecting transferring of the transfer subject or exercising of shareholder’s rights. Also, no competent authorities have taken any compulsory measures on
the transfer subject. The Parties agree to go through the pledge releasing registration formalities against the pledge registration and the equity change registration formalities immediately after signing this Agreement. 

Article II Subject company 
 2.1 The subject company
involved in this Agreement has independent enterprise legal person qualifications as a company legally existing under Chinese laws. 
 2.2 The subject
company has legal approval or license files related to operations. 
 Article III Transfer price and payment 

3.1 Transfer price: The Parties agree that transfer price under terms of this Agreement is RMB 150 million; in which, the Transferee shall pay Zhang Lei RMB
47,479,380, pay Wang Tianxing RMB 46,855,328, pay Wang Wenjun RMB 43,268,392 and pay Shen Shizhou RMB 12,396,900. 
 3.2 Payment method of the transfer price
shall be further confirmed by the Parties in written. 
 Article IV Pledge release and registration change 

4.1 The Transferor shall urge the subject company to start to go through the pledge registration releasing formalities for the transfer subject within three
days as of signing this Agreement and the Transferee shall sign relevant necessary documents and provide necessary assistance; the Transferor shall also urge the subject company to go through the equity change registration formalities at the
industrial and commercial registration authority for the subject company immediately after releasing the pledge registration (Relevant documents shall be submitted no later than the next day after obtaining pledge registration releasing document).
The transaction is deemed to be finished after completion of equity change registration formalities and issuance of new business license for the subject company. 

  
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 Article V Transferor representations and warranties 

The Transferor represents, promises and warrants to the Transferee that: 

5.1 The Transferor has paid total registered capital of the subject company fully and obtained the capital verification report through capital verification. No
feigned capital contribution or capital flight acts exist. 
 5.2 The Transferor has legal, effective and complete rights of disposing the transfer subject
under the terms of this Agreement. The transfer subject held by the Transferor has no other pledge or guarantee in any other forms or third party rights except all the pledges given to the Transferee. 

Article VI Transferee representations and warranties 
 6.1
It conforms to the provisions of the laws and regulations for the Transferee to buy the transfer subject under the terms of this Agreement and has no conflict with the industrial polities of China. 

6.2 The documentary evidence and information submitted to the Transferor for the purpose of signing this Agreement are true and complete. 

6.3 All the approvals required by signing this Agreement have been effectively obtained in a legal way. 

Article VII Bearing of transaction expenses 
 Transaction
expenses incurred during the transaction process under terms of this Agreement shall be undertaken by each of the Parties respectively according to relevant provisions. 

Article VIII Liability for breach of contract 
 8.1 If any
Party violates provisions of this Agreement, he shall be liable for the compensation responsibilities fully against the losses of other Parties resulted in by his breach of this agreement. 

8.2 If any Party violates provisions of this Agreement, he shall bear the liabilities for breach of contract despite termination of this Agreement. 

Article IX Modification and termination of the Agreement 

9.1 Parties concerned may modify or terminate this Agreement after reaching consensus through consultations. Things left unmentioned of this Agreement shall be
supplemented by signing written agreement between the Parties. 
 9.2 If any of the following cases occur, any Party shall have the right to terminate this
Agreement: 
 9.2.1 Where purpose of this Agreement fails to realize due to force majeure or reasons not attributable to the Parties, any Party shall have
the right to terminate this Agreement; 
 9.2.2 Where one Party loses actual performance capabilities, the counter Party shall have the right to terminate
this Agreement; 
 9.2.3 Where purpose of this Agreement fails to realize due to one Party’s serious breach of the contract, the counter Party shall
have the right to terminate this Agreement; 
 9.2.4 Where any Party violates the representation and warranties of this Agreement in Article V and Article
VI, the counter Party shall have the right to terminate this Agreement. 

  
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 Article X Applicable laws and dispute resolution 

10.1 Laws of the People’s Republic of China shall be applicable to this Agreement. 

10.2 The Parties concerned shall try to solve any dispute concerning interpretation or performance of this Agreement through negotiations; if negotiation
fails, any Party shall have the right to submit the dispute to China International Economic and Trade Arbitration Commission for arbitration according to the provisions of this Agreement. The arbitration shall be carried out in Beijing, China by the
Commission in accordance with the current effective arbitration rules. The arbitral decision shall be final and legally binding to all Parties. 

Article XI Validity of the Agreement 
 This Agreement
takes effect since being signed by the Parties on the date shown at the beginning of this Agreement. 
 Article XII Miscellaneous 

12.1 Any modification or supplement to this Agreement by the Parties shall be concluded in written and attached as annex to this agreement. Annex of this
Agreement shall have the same legal effect. 
 12.2 This Agreement is in quintuplicate and each Party shall hold one copy. 

  
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 [This page, as signature of the Equity Transfer Agreement, has no body text.] 

Transferor: 
 Zhang Lei 

 

			
	Signature:		 /s/ Zhang Lei

 Wang Tianxing 
  

			
	Signature:		 /s/ Wang Tianxing

 Wang Wenjun 
  

			
	Signature:		 /s/ Wang Wenjun

 Shen Shizhou 
  

			
	Signature:		 /s/ Shen Shizhou

  
 5 

 [This page, as signature of the Equity Transfer Agreement, has no body text.] 

Transferee: Beijing Super TV Co., Ltd. 
  

			
	 Signature:
  

Name:
  

Position:
		 /s/ Zhu Jianhua

  
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 Annex I 

Equity structure of the subject company (as of signing date of this Agreement) 

 

											
	 Shareholder’s name
	  	Capital contribution
(yuan)	 	  	Form of contributions	  	Ratio of contributions	 
	 Zhang Lei
	  	 	47,479,380	  	  	Currency	  	 	31.65	% 
	 Wang Tianxing
	  	 	46,855,328	  	  	Currency	  	 	31.24	% 
	 Wang Wenjun
	  	 	43,268,392	  	  	Currency	  	 	28.85	% 
	 Shen Shizhou
	  	 	12,396,900	  	  	Currency	  	 	8.26	% 
		  	  
	  
	 	  		  	  
	  
	 
	 Total
		 	150,000,000	  		Currency		 	100	% 
		  	  
	  
	 	  		  	  
	  
	 

  
 7EX-4.90

 Exhibit 4.90 

[Translation of Chinese Original] 

Supplementary Share Transfer Agreement 

of 
 Beijing Super TV Co.,
Ltd. 
 October 27, 2014 

 Supplementary Share Transfer Agreement 

of 
 Beijing Super TV
Co., Ltd. 
 This Supplementary Share Transfer Agreement is made and entered into by and among the following parties on October 27, 2014 in
Beijing: 
 Party A (“Purchaser”): Shanghai Tongda Venture Capital Co., Ltd. (hereinafter referred to as the “Tongda Venture”)

 Legal Representative: ZHOU Liwu 
 Registered
Address: 24/F Yinqiao Building, No.58 Jinxin Road, Pudong New Area, Shanghai 
 Party B (“Transferor”): Golden Benefit Technology Limited
(hereinafter referred to as “Golden Benefit”) 
 Director: LU Zengxiang 

Registered Address: Room 1501, 15/F, SPA centre, 53-55 Lockhart Road, Wanchai, Hong Kong 

Party C: Cinda Investment Co., Ltd. (hereinafter referred to as the “Cinda Investment”) 

Legal Representative: LI Deran 

  
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 Registered Address: No.1 Building, Courtyard No.9, Naoshikou Avenue, Xicheng District 

Party D: China Digital TV Holding Co., Ltd. (hereinafter referred to as the “CDTV Holding”) 

Chairman: LU Zengxiang 
 Registered Address:
Cricket Square, Hutchins Drive, PO BOX 2681, Grand Cayman, KY1-1111, Cayman Islands 
 Party E: China Digital TV Technology Co., Ltd. (hereinafter
referred to as the “CDTV Technology”) 
 Director: LU Zengxiang 

Registered Address: Room 1501, 15/F, SPA centre, 53-55 Lockhart Road, Wanchai, Hong Kong 

The parties mentioned above are hereinafter collectively referred to as the “Parties”. 

Whereas: 
 1. With respect
to the purchase of 100% equity of Super TV by Tongda Venture from Golden Benefit, on October 9, 2014, the Parties have concluded the Share Transfer Agreement of Beijing Super TV Co., Ltd. (hereinafter referred to as the “Share Transfer
Agreement”), and on the same day, Tongda Venture, Golden Benefit and CDTV Holding have concluded the Profit Compensation Agreement for the Transfer of Shares of Beijing Super TV Co., Ltd. (hereinafter referred to as the “Profit
Compensation Agreement”) with respect to special commitments on performance of Super TV made by Golden Benefit and the compensation thereof. 

  
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 2. Article 3.1 of the Share Transfer Agreement states that, considering that the preparation of
the Valuation Report of Target Asset has not completed up to the date of this Agreement, the Parties agree to conclude a supplementary agreement to finally determine the Purchase Consideration of the Target Asset upon completion of the preparation
of the Valuation Report of Target Asset. 
 3. Up to the date of this Supplementary Share Transfer Agreement, the preparation of the
Valuation Report of Target Asset has completed. 
 In order to specify the rights and obligations of the Parties and on the principles of
equality and mutual benefits, the Parties have agreed as follows for joint compliance: 
 Article 1 The Parties agree to revise the
definitions of “Expected Net Profits” and “Actual Net Profits” in Article 1 of the Share Transfer Agreement as follows: 

“Expected Net Profits” refer to the net profits of Super TV attributable to the owner of the parent company under the consolidated statements
of 2014, 2015 and 2016, before or after deducting the non-recurring profits and losses, whichever lower, as promised by Golden Benefits. 
 “Actual
Net Profits” refer to realized net profits of Super TV attributable to the owner of the parent company under the consolidated statements of 2014, 2015 and 2016 audited by an accounting firm with securities business qualifications, before or
after deducting the non-recurring profits and losses, whichever lower 
 Article 2 Article 3.1 of the Share Transfer Agreement shall be revised as
follows: 
 Pursuant to the Valuation Report (Zhong Lian Ping Bao Zi [2014] No.1100) issued by China United Asset Appraisal Group Co. , Ltd., the
assessed value of the Target Asset on the Base Date of Valuation is RMB3,204,481,200; therefore, the Parties agree that the Purchase Consideration of the Target Asset shall be determined as RMB3,200,000,000. 

  
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 Article 3 Article 3.4 of the Share Transfer Agreement shall be revised as follows: 

The Parties agree that the Purchase Consideration shall be consisted of Share Consideration and Cash Consideration, of which, Share Consideration shall be the
77,294,685 shares of Tongda Venture with a total value of RMB800,000,000 calculated on basis of the issue price of the Non-public Offering of Tongda Venture, i.e. RMB10.35 per share; and the Cash Consideration shall be RMB2,400,000,000. 

Article 4 Article 3.6 of the Share Transfer Agreement shall be amended as follows: 

The Cash Consideration shall be paid in the following order: 
  

	 	(1)	Within 5 Business Days upon the satisfaction of the conditions for tax declaration and the transfer of funds raised from the Non-public Offering to the special account for raising funds opened by Tongda Venture, Tongda
Venture shall declare and withhold the enterprise income tax and other taxes (which shall be specifically determined by competent tax authorities according to the laws) applicable to the transfer of 100% equity of Super TV by Golden Benefit;

  

	 	(2)	Within 15 Business Days upon the date of completion of the withholding of the enterprise income tax and other taxes applicable to the transfer of 100% equity of Super TV by Golden Benefit and compliance with the
restrictive conditions on tax and foreign exchange control as required for making overseas payments to Golden Benefit by Tongda Venture, Tongda Venture shall go to the designated foreign exchange bank to apply for going through the examination and
review formalities for payment of at least 35% of the Cash Consideration in foreign exchange to Golden Benefit; and 

  
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	 	(3)	Within 5 Business Days upon completion of change of shareholder registration of Super TV and satisfaction of the conditions for purchase and payment of foreign exchange, Tongda Venture shall go to the designated foreign
exchange bank to apply for going through the examination and review formalities for payment to Golden Benefit in foreign exchange of the remaining Cash Consideration deducting all withholding taxes legally assessed by the competent tax authorities.

 Article 5 Article 4.2.2 of the Share Transfer Agreement shall be revised as follows: 

Within 5 Business Days upon completion of the payment of Cash Consideration agreed in Article 4 (2) hereof, Super TV shall apply to the industry and
commerce administration for change of shareholder registration under this Purchase to register Tongda Venture as its shareholder. 
 Notwithstanding the
foregoing, where Tongda Venture fails to meet the conditions for payment of Cash Consideration under Article 4 (2) hereof due to commerce, taxation, foreign exchange control or other restrictive conditions, Golden Benefit and Tongda Venture
agree to further negotiate the order of payment of Cash Consideration and the time for submittal of application for change of industrial and commercial registration subject to compliance with the existing laws and regulations. 

Article 6 Article 5.1 of the Share Transfer Agreement shall be revised as follows: 

The Parties agree that, upon completion of the Purchase, they will jointly make efforts to promote Tongda Venture to further improve the marketization
management mechanism, so as to facilitate the stable operation and sustainable development of digital TV businesses under the Purchase. Upon completion of the Purchase, the board of directors of Tongda Venture will be overhauled and consisted of 9
members, of which, three are independent directors. Golden Benefit will recommend 2 candidates for director and Cinda Investment agrees to cast affirmative votes for the candidates for director recommended by Golden Benefit, and for that such
candidates will serve as members of the Tongda Venture Strategic Committee. In order to satisfy the business development needs of Tongda Venture, Cinda Investment agrees that 1 to 2 professional managers will be employed to serve as senior
executives of Tongda Venture to be in charge of the relevant businesses of Super TV, by recommendation of Golden Benefit or market-oriented employment. 

  
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 Article 7 Article 9.8 of the Share Transfer Agreement shall be revised as follows: 

Subject to the PRC Laws and relevant regulatory requirements for listed companies, and in order to cooperate with the audit requirements for CDTV Holding,
Tongda Venture agrees that CDTV Holding may use the information in the audited and unaudited financial reports of Tongda Venture that have been announced, in its disclosure documents and other communications with its shareholders (including the
Letter for Submittal of Voting Proxy). 
 Article 8 Miscellaneous 

In case of any inconsistency between the Share Transfer Agreement and this Supplementary Share Transfer Agreement, the provisions of this Supplementary Share
Transfer Agreement shall prevail; matters not covered herein shall be handled in accordance with the provisions of the Share Transfer Agreement. 
 This
Supplementary Share Transfer Agreement shall be established from the date of the signature and seal by the Parties, and shall become effective on the effectiveness of the Share Transfer Agreement. 

This Supplementary Share Transfer Agreement is made in 18 copies of equal legal force. The Parties hereto shall each hold three copies of this Supplementary
Share Transfer Agreement, and the rest shall be kept by Tongda Venture for going through the relevant formalities for examination and approval, registration or filing. 

(The remainder of this page is intentionally left blank.) 

  
 7 

 (This page is intentionally left blank, and is the signature page of the Supplementary Share Transfer Agreement
of Beijing Super TV Co., Ltd.) 
 Party A: Shanghai Tongda Venture Capital Co., Ltd. (Seal) 

Legal Representative or Authorized Representative: 
 /s/
ZHOU Liwu 

  
 8 

 (This page is intentionally left blank, and is the signature page of the Supplementary Share Transfer Agreement
of Beijing Super TV Co., Ltd.) 
 Party B: Golden Benefit Technology Limited 

Director or Authorized Representative: 
 /s/ LU Zengxiang

  
 9 

 (This page is intentionally left blank, and is the signature page of the Supplementary Share Transfer Agreement
of Beijing Super TV Co., Ltd.) 
 Party C: Cinda Investment Co., Ltd. (Seal) 

Legal Representative or Authorized Representative: 

/s/ LI Deran 

  
 10 

 (This page is intentionally left blank, and is the signature page of the Supplementary Share Transfer Agreement
of Beijing Super TV Co., Ltd.) 
 Party D: China Digital TV Holding Co., Ltd. 

Chairman or Authorized Representative: 
 /s/ LU Zengxiang

  
 11 

 (This page is intentionally left blank, and is the signature page of the Supplementary Share Transfer Agreement
of Beijing Super TV Co., Ltd.) 
 Party E: China Digital TV Technology Co., Ltd. 

Director or Authorized Representative: 
 /s/ LU
Zengxiang  

  
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