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SYNERTONE COMMUNICATION CORPORATION 1613 8 30 77 3 EN 1 EN 3 28 26

.............................................................. 1.......................................................... 6........................................................ 8.......................................................... 31.......................................................... 36.......................................................... 44.............................................................. 58........................................... 71..................................... I-1........................... II-1................................... III-1.................... IV-1.............................................. V-1................................................. EN-1 i

VAST ICA VAST VAST 7,598.5 VAST VAST 1613 VAST 1

64,000,000 VAST VAST VAST IPSTAR 2

ICA Thaicom IPSTAR IPSTAR THAICOM 4 IPSTAR 1 119.5 IPSTAR 0.5034 VAST VAST 3

VAST 571 0.01 Thaicom Thaicom Public Company Limited VAST Vastsuccess Holdings Limited IPSTAR Company Limited Thaicom 4

% 1 =7.75 1 6.15 5

IPSTAR Ka 26.5 40 (GHz) Ku IEEE 521 2002 Ku 12 18 (GHz) megahertz 1 (hertz)(hz) 1 1 IPSTAR 6

VSAT 7

SYNERTONE COMMUNICATION CORPORATION 1613 Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands B 90 13 1301 VAST 8

VAST VAST (i) (ii) (1) VAST (2) Thaicom Thaicom Thaicom IPSTAR VAST VAST (i) (ii) VAST 9

80.0 620.0 (i) 8.0 62.0 (a) 1.85 14.3 15 60 4.7 VAST 60 1.25 9.7 (b) 4.15 32.2 17 64,000,000 0.5034 (c) 2.0 15.5 180 (ii) 5.0 38.8 7.0 54.3 9.0 69.8 6.0 46.5 VAST (i) IPSTAR (ii) 10

(iii) 64,000,000 (i) 5.33% (ii) 5.06% 0.5034 VAST (i) 1.54 67.3% (ii) 0.480 4.9% (iii) 0.475 6.0% (iv) 0.473 6.4% (v) 0.182 176.6% 218,190,000 1,200,000,000 11

VAST VAST VAST VAST (i)vast (ii) (iii)vast (i) VAST (ii) VAST VAST (i) (ii) 60 60 VAST VAST 12

(i) 10 (ii) 10 10 VAST (i) VAST VAST (ii) VAST VAST 18% VAST VAST (a) (b) 13

VAST VAST VAST VAST VAST 67% (i) VAST VAST (ii)thaicom VAST VAST VAST VAST VAST VAST VAST IPSTAR VAST IPSTAR (i) (ii) VAST IPSTAR VAST 16

VAST IPSTAR VAST IPSTAR VAST (48) VAST (48) VAST IPSTAR (48) VAST VAST VAST VAST VAST 17

VAST VAST VAST (1) VAST (2) VAST VAST 8% (i)vast (ii)vast VAST VAST VAST 8% 8% VAST VAST 18

VAST VAST VAST 1. 2. 3. IPSTAR IPSTAR IPSTAR ICA IPSTAR 19

VAST IPSTAR VAST VAST IPSTAR (i) ICA IPSTAR VAST (ii)vast ICA ICA IPSTAR ICA VAST IPSTAR ICA (i) (ii) IPSTAR (iii) VAST (iv) VAST ICA VAST (i) (ii) IPSTAR (iii) VAST IPSTAR (iv) VAST VAST VAST 20

VAST ICA VAST ICA VAST VAST ICA (i) IPSTAR (ii)vast ICA IPSTAR (iii)vast Thaicom IPSTAR IPSTAR 5 (Ariane 5) 119.5 6,505 HTS HTS 200 Ku Ka 45Gbps 87 Ku 10 Ka 84 8 3 21

7 22 2 1 1 7,598.5 IPSTAR 5Mbps 4Mbps VSAT IPSTAR Ku 14.0 14.25 22 8 1 14.25 (i) 7,598.5 (ii) 543 4,208.3 80.0 620.0 (i) (ii) (iii) 22

17 17 80.0 543 7,739 3,927 4,052 1,565 (120,858) (125,964) (153,782) (35,139) (113,119) (122,037) (149,730) (33,574) 4.055 1 3.8913 1 3.9844 1 3.8323 1 IPSTAR 23

IPSTAR 332.7 144.5% 813.6 54.5 826.1% 504.7 497.4 1.85 14.4 2.1 2.0 450.2 (i) 115.7 3.5% 119.7 (ii) 36.0 48.8 (i) Thaicom 14.8 52.4 (ii) 21.4 4.1 24

(i) (ii) % % Excel Time Investments Limited 1 810,000,000 67.50 810,000,000 64.08 40,000,000 3.33 40,000,000 3.16 Jumbo Harbour Group Limited 2 30,000,000 2.50 30,000,000 2.37 12,000,000 1.00 12,000,000 0.95 892,000,000 74.33 892,000,000 70.56 3 64,000,000 5.06 308,000,000 25.67 308,000,000 24.38 308,000,000 25.67 372,000,000 29.44 4 1,200,000,000 100.00 1,264,000,000 100.00 1. Excel Time Investments Limited Excel Time Excel Time 810,000,000 Excel Time Excel Time Excel Time Excel Time 2. Jumbo Harbour Group Limited Jumbo Jumbo 94.2% Jumbo 30,000,000 Jumbo 3. 25

4. IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR Thaicom IPSTAR (i) (ii) (iii) (iv) (v) 26

(vi) IPSTAR IPSTAR IPSTAR (i) (ii) IPSTAR (iii) IPSTAR IPSTAR IPSTAR ICA IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR 27

IPSTAR VAST IPSTAR VAST VAST 14 28

77 3 EN 1 EN 3 48 28 26 13.39(4) 13.39(5) 29

IPSTAR IPSTAR A. 75.9 588.2 31

B. IPSTAR (i) (ii) (iii) (iv) (v) (vi) IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR 113.1 122.0 149.7 33.6 IPSTAR IPSTAR IPSTAR 32

IPSTAR IPSTAR ICA IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR VAST IPSTAR IPSTAR IPSTAR VAST (48) VAST IPSTAR (48) IPSTAR VAST 33

IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR Ku IPSTAR Ku Ku 28.5% IPSTAR 3,899 Ku 13,697 Ku Ku Ku 40% 34

IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR C. IPSTAR IPSTAR 35

158 227 450 41.7% (i) VSAT (ii) GPS 36

(i) (ii) (i) (ii) (iii) (iv) (v) (vi) 37

(i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (i) (ii) (iii) (iv) (v) (vi) 38

1. C Ku C Ku C Ku 18,161 28,745 10,584 58.3% C Ku 35,000 30,000 25,000 20,000 18,161 19,925 21,077 15.5% 24,353 18.0% 28,745 20% 18% 16% 14% 12% 15,000 9.7% 10% 8% 10,000 5,000 5.8% 6% 4% 2% 0 2008 2009 2010 2011 2012 0% 39

IPSTAR 26 150 IPSTAR IPSTAR IPSTAR IPSTAR 3,699 200 IPSTAR 3,899 IPSTAR 7,598.5 2. Ku Ku Ku 0.5 1.2 Ku Ku 16,000 14,000 22.5% 13,697 25% 12,000 11,177 20% 10,000 8,945 9,701 9,989 11.9% 15% 8,000 6,000 8.5% 10% 4,000 3.0% 5% 2,000 0 2008 2009 2010 2011 2012 0% 40

3. Ku Ku (i) 5 6 (ii) 5A 9 2A 12 (iii) 1045 5 67 (iv) 3S 4 5 7 (v) Thaicom Public Company Limited 1 IPSTAR 2 (i) (ii) (iii) 1135 4. Ku Ku 60% Ku 1 Thaicom Public Company Limited IPSTAR IPSTAR Company Limited IPSTAR 2 IPSTAR 26 150 IPSTAR IPSTAR IPSTAR IPSTAR 3,699 200 IPSTAR 3,899 IPSTAR 7,598.5 41

Ku 10,000 9,000 8,000 7,000 6,000 5,815 6,597 6,992 7,155 9,040 26.3% 30% 25% 20% 5,000 13.4% 15% 4,000 3,000 10% 2,000 1,000 6.0% 2.3% 5% 0 2008 2009 2010 2011 2012 0% Ku Ku 1. 640 726 699 787 1,085 2. 872 1,055 1,189 1,073 1,356 3. 1,047 1,187 1,189 1,288 1,537 4. 1,221 1,385 1,468 1,502 1,898 5. 2,035 2,244 2,447 2,505 3,164 5,815 6,597 6,992 7,155 9,040 42

5. Ku Ku Ku 190 185 8% 7% 180 170 5.0% 168 173 6.9% 6% 5% 160 150 156 160 2.6% 3.0% 4% 3% 2% 1% 140 2008 2009 2010 2011 2012 0% Ku (i) Ku (ii) (iii) 43

IPSTAR IPSTAR VAST IPSTAR IPSTAR VAST [2013]29 [2001]123 412 IPSTAR VAST 106 IPSTAR VAST 14/2001 44

16/2012 24/2002 5/2006 IPSTAR [2009]714 IPSTAR IPSTAR 45

(i) (ii) (1) 51% (2) (3) (4) (5) (6) 46

180 1 2 3 4 1 2 3 4 5 6 7 IPSTAR IPSTAR IPSTAR 47

IPSTAR IPSTAR [2009]714 IPSTAR (ii) (1) 51% (2) (3) (4) (5) (6) 48

1 10 (7) (8) (1) (2) (3) C Ku 49

(1) Ku 14.0 14.25 0.8 0.6 (2) 125 Ku 125 300 Ku 14.0 14.5 C 5,925 6,425 300 C Ku Ku 0.8 0.6 C 2.4 50

3 20 24 VSAT (i) (ii) (iii) (iv) (v) 51

[2000]12 52

500 147 (a) (b) (c) 1. 2. IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR 53

IPSTAR [2006]186 IPSTAR [2009]100 IPSTAR [2009]596 IPSTAR IPSTAR IPSTAR [2009]714 IPSTAR IPSTAR VAST IPSTAR IPSTAR VAST IPSTAR VAST ICA 54

VAST ICA IPSTAR VAST VAST 106 106V 14/2001 (i) (ii) (i) (ii) 55

(i) (ii) 16/2002 5/2006 (i) (ii) (iii) (iv) (v) (vi) 26/2012 (i) (ii) (iii) (iv) (v) 56

90 90 57

(i) (ii) (iii) (iv) (v) 1. 2. 3. 4. 58

IPSTAR VAST (i) (ii) IPSTAR IPSTAR VAST IPSTAR VAST ICA VAST IPSTAR 7,598.5 59

業務為詳細闡述終端客戶如何以衛星通信系統連繫下圖列示本集團通過旗下產品及該衛星的頻寬賣方通過該衛星及中電信衛星通過關口站如何參與中國的 IPSTAR 業務 IPSTAR Ku 頻段附註1 Ka頻段衛星通信汽車運動模式地球站 VSAT運動模式 IP 集群站互聯網接入服務無線視像採集視像會議服務地面衛星天線關口站附註3 發送及指揮互聯網無線集群網絡附註2 視像採集公共網絡控制中心加密網絡管理數據庫附註3 附註 1. 該衛星將由 Thaicom 透過 Thaicom 衛星站進行監察及操控於收購事項完成後本集團將於國域內向其目標客戶出售及推廣該衛星頻寬 2. 本集團提供的主要專用通信系統包括但不限於數字集群系統地面移動衛星系統及業務集成系統專用通信系統可按各客戶的特定需要設計並連接不同的通信鏈路如衛星進行收購事項前本集團的客戶須向其他衛星服務供應商物色衛星頻寬待收購事項完成後本集團可於其後向客戶提供該衛星頻寬 3. 關口站及關口站與數據處理控制中心間往來之數據傳輸一直並將由中電信衛星根據轉讓協議及 ICA 文件管理及營運 60

IPSTAR (i) (ii) (iii) (iv) (i) (ii) (iii) (iv) (i) (ii) (iii) 23,400,000 (i) (ii) (iii) (iv) 61

IPSTAR Thaicom Thaicom Thaicom IPSTAR VAST ICA VAST IPSTAR ICA IPSTAR 62

ICA (i) (ii) (iii) ICA (iv) IPSTAR VAST (v) (i) (ii) Thaicom Thaicom VAST VAST (iii) (a) (b) (iv) VAST (v) VAST (i) (ii) IPSTAR (iii) VAST VAST VAST (iv) VAST ICA (v) VAST VAST VAST VAST 63

ICA (i) (ii) (iii) (iv) IPSTAR ICA (i) Ku (ii) (iii) IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR VAST (i) (ii) IPSTAR IPSTAR IPSTAR 64

IPSTAR IPSTAR IPSTAR ICA 1. IPSTAR 2. 3. IPSTAR IPSTAR 65

IPSTAR 1. IPSTAR IPSTAR IPSTAR IPSTAR Thaicom IPSTAR IPSTAR 1,000,000 2. IPSTAR (i) (ii) (iii) (iv) (v) (vi) 66

(i) (ii) 3. 12 IPSTAR 2013 IPSTAR 4. 80.0 620.0 92.4 67

568.3 15,418.1 2,507.0 50% IPSTAR 1. IPSTAR ICA 2. IPSTAR IPSTAR 68

3. IPSTAR IPSTAR 8% (i) VAST VAST (ii) VAST VAST IPSTAR 1. 2. 92.4 2,506.7 69

50% 3. ICA IPSTAR (i) (ii) (iii) IPSTAR 2013 IPSTAR 70

1. 54 54 51 42 48 51 49 54 12 8116 71

2009 54 51 Citect Corporation Limited Schneider Electric MOX 42 9 48 20 72

0098 1008 51 49 002197 73

2. 44 42 46 39 42 36 42 47 44 10 Viva Magnetic (Canada) Ltd (Sheridan College Institute of Technology and Advanced Learning) 42 15 74

46 3G BSS UT 2 39 42 863 Softswitch 75

Softswitch NAS 36 10 42 47 10 JYL 6D 76

3. 227 16 63 26 79 10 33 227 ICA A. (i) Thaicom (ii) VAST B. (i) (ii) IPSTAR C. 77

IPSTAR IPSTAR (i) (ii) IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR [2006]186 IPSTAR [2009]100 IPSTAR 78

[2009]596 IPSTAR IPSTAR IPSTAR [2009]714 IPSTAR IPSTAR IPSTARCO IPSTAR 150 90% IPSTAR 79

1. (A) I-4 I-93 http://www.hkexnews.hk/listedco/listconews/sehk/2012/0330/ltn20120330353_c.pdf http://www.synertone.net/wwwroot/cn/en/admin/mytouzi/uploadfile/product_ big/201205021413081407 (B) 28 89 http://www.hkexnews.hk/listedco/listconews/sehk/2012/0723/ltn20120723158_c.pdf http://www.synertone.net/wwwroot/cn/en/admin/mytouzi/uploadfile/product_ big/201207231738252856 (C) 30 87 http://www.hkexnews.hk/listedco/listconews/sehk/2013/0724/ltn20130724260_c.pdf http://www.synertone.net/uploadfile/download/201307251339566276.pdf 2. 3. IPSTAR I-1

4. 5. (a) 214.4 2.0% 218.8 104.7 66.7% 174.5 DITONE 28.7 I-2

WITONE 16.6 41.9 100.1 61.7% 38.3 7.3 20.8% 5.8 3 87.5 13.4% 75.7 40.8% 34.6% 127.0 12.7% 143.1 I-3

59.2% 65.4% 67.0% 71.8% (i) (ii) DITONE (iii) DITONE (i) 79.7% (ii) 50.4% 33.4% 4.9 208.9% 15.2 14.7 (i) (ii) 3.8% 6.7% 8.1 I-4

79.6% 14.6 (i) 2.3 4.4 (ii) 2.6 4.7 DITONE (iii) (iv) 26.2 2.2% 26.8 26.4% 13 10.7 17.4 61.8% (i) 7.7 13.8 (ii) 0.4 0.9 0.8 68.3% 1.4 24.7 17.9 41.3% 25.3 (i) I-5

4.6 0.9 (ii) 13.5 17.1 1.7 (iii) 0.1 7.4 68.1 6.9% 72.9 185,091 (3,932) (8,109) (8,046) (126,932) 5,419 I-6

3.9 99.8 1.5 22.0 1.0 119.7 185.1 110.4 84.0 10.7 6.1 4.6 8.0 1.1 5.4 ANM-MC 1.6 0.009 0.03 8.1 2.8 3.3 2.1 5.4 20.0 6.0 I-7

Excel Time 19.0 0.8 0.8 126.9 129.0 8.1 1.4 11.6 16,022 16,076 8,682 5,243 8,682 5,243 24,704 21,319 16.1 16.0 6.9 7.0 I-8

5.06% 6.88% 25.4% 15.2% 26.0 32.3 21.3 24.7 4.7 3.1 292 378 34.3 49.4 I-9

(b) 218.3 218.8 % % 182,899 83.8 174,503 79.7 20,127 9.2 38,329 17.5 13,424 6.2 5,818 2.7 1,814 0.8 174 0.1 218,264 100.0 218,824 100.0 182.9 174.5 8.4 4.8% 20.1 38.3 18.2 47.5% 13.4 5.8 7.6 131.0% I-10

1.8 200,000 1.6 800.0% 1.5 69.6 75.7 6.1 8.1% 4.8% 131.0% 47.5% 148.7 143.1 5.6 3.9% 65.4% 68.1% 3.8 15.2 11.4 75.0% 15.0 11.0 14.6 3.6 24.7% I-11

8.5 31.7% 26.8 35.3 9.3 2.2 12.6% 17.4 15.2 13.8 11.6 200,000 14.3% 1.4 1.2 900,000 3.6% 25.3 26.2 (i) 6.4 17.1 23.5 (ii) 4.6 7.4 2.8 63.6 72.9 9.3 12.8% I-12

36,334 185,091 (4,685) (8,109) (41,362) (126,932) 36.3 185.1 203.6 57.2 31.6 11.6 84.0 10.7 4.7 8.1 3.3 I-13

41.4 126.9 102.0 15.6 4.5 3.6 228 49.3 I-14

9,000,000 900,000,000 0.01 900,000,000 20% I-15

(c) 115.7 218.3 102.6 47.0% % % 106,768 92.3 182,899 83.8 8,863 7.6 20,127 9.2 13,424 6.2 59 0.1 1,814 0.8 115,690 100.0 218,264 100.0 182.9 76.1 41.6% 106.8 CITONE CITONE 20.1 11.2 56.0% 8.9 13.4 6.2% 59,000 I-16

69.6 28.0 40.2% 41.6 148.7 74.6 50.2% 74.1 68.1% 64.1% 33.9 3.9 30.0 780.7% 30.9 2.2 11.0 1.0 9.1% 12.0 3.8 10.8% 35.3 I-17

31.5 4.3 11.0 9.3 1.4 9.2% 15.2 16.6 CITONE 1.2 14.3 54.6% 26.2 11.9 36.0 63.6 27.6 43.4% I-18

105,985 36,334 (56,553) (4,685) 36,095 (41,362) 106.0 36.3 70.4 31.6 241,000 11.6 4.4 41.9 56.6 4.7 44.4 36.1 41.4 99.0 21.0 27.0 48.0 10.4 I-19

1. Vastsuccess Holdings Limited VAST IPSTAR Company Limited Thaicom Public Company Limited Thaicom Public Company Limited VAST VAST (i) (ii) 9.5 80.0 (i) 75.9 (ii) 64,000,000 4.1 0.5034 14 2. VAST VAST VAST VAST 8% (i)vast (ii)vast VAST I-20

57.1 44.4 8.0 4.7 227 40.4 I-21

0.33 300,000,000 12,000,000 1,200,000,000 0.01 1,200,000,000 I-22

Vastsuccess Holdings Limited VAST IPSTAR Company Limited Thaicom Public Company Limited VAST (i) (ii) 9.5 80.0 14 I-23

1 7,739 3,927 4,052 1,565 2 (24,041) (25,058) (30,591) (2,440) 3 (85,208) (88,813) (108,426) (28,258) 4 (11,609) (12,093) (14,765) (4,441) (113,119) (122,037) (149,730) (33,574) 1. IPSTAR 2. IPSTAR 3. Thaicom 4. Thaicom 5. 4.055 1 3.8913 1 3.9844 1 3.8323 1 14.69(4)(b)(i) 4400 II-1

(i) (ii) (iii) (1) (i) (2) (ii) (3) (iii) II-2

II-3

141 211 IPSTAR Company Limited III-1

Thaicom Public Company Limited Thaicom Thaicom THAICOM 4 IPSTAR THAICOM 5 THAICOM 6 THAICOM 7 IPSTAR IPSTAR 5 (Ariane 5) 119.5 IPSTAR HTS HTS 200 45 Gbps 87 Ku 10 Ka IPSTAR 6,505 IPSTAR 5 Mbps 4 Mbps VSAT IPSTAR 18 IPSTAR OFDM TDM TPC L IPSTAR Ku Ka IPSTAR III-2

IPSTAR LS 1300 SX Space Systems/Loral 14,400 6,505 Ku 84 3 7 45 Gbps 1,000 36 119.5 Arianespace 16 IPSTAR 119.5 45 Gbps 84 7 3 Thaicom III-3

IPSTAR (A) 23 00 7.9 113 21 32.6 8.1 Google III-4

(B) 59 40 02 59.0 116 16 21.4 7.6 8.1 III-5

Google III-6

IPSTAR IPSTAR OFDM TDM TPC L ALOHA TDMA III-8

IPSTAR IPSTAR IPSTAR CTE IPSTAR IPSTAR ACM 84 120 IPSTAR IP IPSTAR IPSTAR IPSTAR OFDM TDM TPC L TDM-OFDM MF-TDMA ALOHA TDMA IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR IPSTAR III-9

IPSTAR (A) IPSTAR IPSTAR 7,598.5 IPSTAR Vastsuccess Holdings Limited VAST VAST VAST VAST IPSTAR (B) VAST IPSTAR (A) (B) (C) 24 III-10

1,000 90 48 10,000 250 81.3 Telecommunications Essentials III-11

(I) IPSTAR III-12

22,000 C Ku Ka X (A) Ku Ku Ku Ku VSAT (B) C C C C (C) Ka Ka Ka Ku (D) X X IPSTAR Ku IPSTAR Ka III-13

192 III-14

Futron Corporation Futron 79% (A) (B) (C) (D) (A) (B) Futron 4% TPE 7,000 10,000 Futron 4% 4.7% 10.8% (A) 2 III-15

C Ku (B) 1. 2. 3. 1. III-16

20% 2. 3. (C) 200,000,000 500,000,000 (D) III-17

IPSTAR [2009] 100 IPSTAR IPSTAR IPSTAR [2009] 714 IPSTAR IPSTAR IPSTAR Co. Ltd IPSTAR III-18

III-19

(a) (b) (c) (d) III-20

1 2 1. 2. 3. 4. 5. CapRock Government Solutions, Inc. Ku 419.83 Astrium Services Ku 618.91 Government, Inc. Artel, LLC Ku 626.48 Intelsat General Corporation MTN Government Services, Inc. Ku 816.88 Ku 1,080.48 626.48 IPSTAR Company Limited Ku 7,598.50 9.5 114 1 (US General Service Administration) III-21

2 # CapRock Government Solutions, Inc. 1,679.31 75% 419.83 Astrium Services Government, Inc. 2,475.63 75% 618.91 Artel, LLC 2,505.92 75% 626.48 Intelsat General Corporation 3,267.50 75% 816.88 MTN Government Services, Inc. 4,321.92 75% 1,080.48 # Euroconsult IPSTAR III-22

543,000,000 90 13 1301 B.Sc. MRICS, MHKIS, RPS, MCIArb, AHKIArb, MCIM III-23

A. 4.29 (i) (ii) (i) (ii) (iii) VAST IV-1

1.1 51,766 51,766 12,231 497,410 1.2 509,641 4,680 (4,680) 1.3(ii) 68,677 561,407 19,590 19,590 119,919 119,919 124,549 (9,750) 1.3(ii) 112,729 (2,070) 1.4 264,058 252,238 24,223 24,223 241 241 15,242 1.3(ii) 15,242 20,214 20,214 44,678 59,920 IV-2

1.1 219,380 192,318 288,057 753,725 9,871 9,871 434,948 1.3(ii) 434,948 9,871 444,819 278,186 308,906 12,000 640 1.3(i) 12,640 266,186 30,080 1.3(i) 296,266 278,186 308,906 1.1 1.2 497,410,000 (i) 464,620,000 (ii) 30,720,000 (iii) 2,070,000 IV-3

1.3 80,000,000 (i) 8,000,000 (a) (b) (c) (d) 4,150,000 64,000,000 0.5034 600,000 VAST 600,000 1,250,000 2,000,000 (ii) 5,000,000 7,000,000 9,000,000 6,000,000 (i) (ii) 30,720,000 0.48 640,000 64,000,000 0.01 30,080,000 75,850,000 464,620,000 600,000 1,250,000 4,680,000 9,750,000 2,000,000 15,600,000 1,954,000 15,242,000 2,000,000 55,763,000 434,948,000 72,000,000 4.75% 1.4 2,070,000 1.5 7.80 1.00 1.6 IV-4

2.1 115,690 4,052 2.2 119,742 (41,574) (324) 2.3 (41,898) 74,116 77,844 33,856 33,856 (12,007) (12,007) (31,499) (14,765) 2.2 (98,623) (52,359) 2.4 (16,576) (16,576) 47,890 (15,506) (21,384) 2.5 (21,384) 47,890 (36,890) (11,883) (11,883) 36,007 (48,773) 2,004 2,004 38,011 (46,769) IV-5

2.1 2.2 2.3 (i)vast (ii)vast VAST 8% 2.4 52,359,000 2.5 21,384,000 1,850,000 2,000,000 4.75% 2.6 7.80 1.00 2.7 IV-6

B. 11 31 A A Vastsuccess Holdings Limited IPSTAR Company Limited (i) (ii) IV-7

4.29 7 4.29(7) 3420 4.29 7 IV-8

(a) (b) (c) 4.29(1) P04165 IV-9

1. 2. (i) (ii) 2,000,000,000 0.01 20,000,000 1,200,000,000 0.01 12,000,000 2,000,000,000 0.01 20,000,000 1,264,000,000 0.01 12,640,000 V-1

3. XV XV 7 8 352 10 (i) 1 810,000,000 67.5% 40,000,000 3.3% 2 30,000,000 2.5% 12,000,000 1% 1. Excel Time Investments Limited Excel Time 810,000,000 Excel Time 2. Jumbo Harbour Group Limited Jumbo Jumbo 94.2% 30,000,000 Jumbo V-2

(ii) Excel Time 78,000 Jumbo 28,260,000 100% 94.2% XV XV 7 8 352 336 Excel Time 1 810,000,000 67.5% 1 810,000,000 67.5% 1. Excel Time Excel Time 336 V-3

4. 5. 6. 7. 8. 9. (i) V-4

(i) (ii) 10. (a) Victory Investment China Group Limited Victory Investment 0.50 90,000,000 Victory Investment 180,000,000 Excel Time Investment Limited Excel Time Victory Investment Victory Investment 180,000,000 Victory Investment (b) Excel Time 12 (c) Excel Time V-5

(d) 30,000,000 (e) 270,000,000 (f) (g) (h) VAST (i) (j) (k) (l) 11. (i) 90 13 1301 (ii) 28 26 (iii) 18 (iv) V-6

12. 90 13 1301 (i) (ii) 8 30 (iii) (iv) (v) (vi) (vii) IPSTAR (viii) (ix) (x) V-7

SYNERTONE COMMUNICATION CORPORATION 1613 77 3 1. (a) Vastsuccess Holdings Limited VAST IPSTAR Company Limited A VAST 80 64,000,000 0.01 (b) 0.5034 (c) EN-1

(d) 2. 1 (a) VAST VAST B (b) 1. 2. 3. EN-2

4. 48 28 26 5. 6. 7. EN-3