Major Shareholder:

• Dynamic Master Development ¡V 40.59% interest
• Aegis ¡V 18.75% interest
• Master Asset International Limited ¡V 6.86% interest

Founded by the Honourable Dr. Wong Yu Hong, Philip, GBS ( ) and Dr. Leung Anita Fung Yee Maria ( ) in 1995, the Group is principally engaged in the provision of media services in the PRC. The media services provided by the Group comprise TV programme related services, marketing related services and public relations services. TV programme related services and marketing related services are services provided to production houses and investors in TV programmes, respectively. Investors in TV programmes are mainly advertising agencies of corporate clients, which principally target the PRC market.

In addition, the Group provides public relations services to corporate clients in the PRC.Such corporate clients include clients of advertising agencies, who are investors in TV programmes to whom the Group provides marketing related services.

The Group has entered into agreements with certain production houses, TV stations, advertising agencies and other investors in the PRC to govern its long-term working relationships with them. In particular, the Group has entered into the Fujian Master Investors Procurement Agreement with Fujian QJY Production and Fujian TV station, pursuant to which the Group has agreed to procure investors to invest in, and is entitled to provide TV programme related services to Fujian QJY Production for the production of 6,000 hours of TV programmes (equivalent to approximately 200 TV drama series)* for broadcasting during prime airtime in the PRC. Fujian QJY Production has an extensive TV programme distribution network of over 160 TV stations in major provinces and cities in the PRC including Beijing, Shanghai, Tianjin, Chongqing, Heilongjiang, Jilin, Liaoning, Inner Mongolia, Hebei, Shanxi, Shandong, Henan, Jiangsu, Zhejiang, Anhui, Fujian, Jiangxi, Hubei, Hunan, Ningxia, Gansu, Qinghai, Tibet, Xingjiang, Shanxi, Sichuan, Yunnan, Guizhou, Guangxi, Guangdong and Hainan.

The Directors believe that the Group has the following competitive advantages:

• established relationship with Fujian TV station and Fujian QJY Production for the production of 6,000 hours of TV programmes for broadcasting during prime airtime at over 160 TV stations with nation-wide coverage in the PRC pursuant to the Fujian Master Investors ProcurementAgreement.

• track record on the Group's ability to generate or identify scripts, novels and concepts suitable for adaptation into TV programme for prime airtime broadcasting in the PRC, in addition to Dr. Leung's novels as a potential and readily available source of ¡¥¡¥concept'' for TV programmes;

• strategic alliance with Aegis, which provides the Group with opportunities to enlarge its clientbase to include more international corporations and to expand its business in the provision ofmarketing related services and public relations services;

• extensive experience and business connection of Dr. Wong and Dr. Leung in the PRC, Dr. Wong's familiarisation with the regulatory environment of the PRC, and the experience and reputation of Dr. Leung as a novelist and in the fields of media, marketing and public relations;

• established relationship with Huishi (Hainan) which has (inter alia) 37 provincial TV stations in the PRC as its shareholders, which facilitates the nation-wide broadcasting of TV programmes produced by Huishi (Hainan) with the Group's TV programme related services during prime airtime;

• close working relationship with production houses, which enables the Group to be kept abreast of the production progress of TV programmes and the distribution of such TV programmes;

• established relationship with investors (mainly advertising agencies) enables the Group to procure investment in TV programmes at an early stage of production of such TV programmes;

• ability to attract a wide spectrum of investors (including advertising agencies and print media distributors) to invest in TV programmes; and

• capability to offer a combination of services, including TV programme related services, marketing related services and public relations services, which enables the Group to provide tailor-made public relations solutions to the corporate clients in the PRC.

• Long settlement cycle
• Reliance on key personnel
• Reliance on major customer;
• Liability of the Group under the Fujian Master Investors Procurement Agreement;
• Lack of control over the production of TV programme;
• Non performance of the key contracts
• Revenue on a project by project basis
• Legal title of property interests

It is the objective of the Group to expand and further develop its business in the growing PRC market. To achieve this objective, the Group has formulated the following major business strategies:

• continual provision of TV programme related services and marketing related services to production houses and investors in TV programme (mainly advertising agencies) in connection with the production and distribution of and investment in more high quality TV programmes;
• building up its own library of scripts, books suitable for adaptation into TV programmes, TV programmes and films;
• expansion of the business of provision of marketing related services and public relations services by way of, inter alia, leveraging on the existing relationship of Aegis Group and theirinternational clients;
• expansion of the network of production houses and advertising agencies in the PRC as customers of the Group;
• establishment of production service centre to facilitate the provision of TV programme related services;
• conducting marketing activities to promote TV programmes which the Group was granted distribution licence right in overseas markets; and
• strengthening the team of professional staff of the Group.

The net proceeds from the Placing, after deducting the related expenses, are estimated to amount to approximately HK$108.0 million (based on the offer price HK$1.28 per share). The Group at present intends to apply the net proceeds as follows: