Independent Assurance Report. SHINEWING (HK) CPA Limited (“ShineWing HK”), certified public accountants in Hong Kong, has also examined the calculations of the discounted future estimated cash flows of the major subsidiaries of DCITS on which the valuation prepared by CAA of the entire equity interest in DCITS were based. The Company received an independent assurance report issued by ShineWing HK regarding the calculations of the discounted future estimated cash flows of the major subsidiaries of DCITS dated 26 August 2013 (the “Independent Assurance Report”), in which ShineWing HK is of the opinion that, so far as the accounting policies and calculations are concerned, the DCITS Profit Forecast has been properly compiled in accordance with the assumptions as set out in this announcement and is presented on a basis consistent in all material aspects with the accounting policies currently adopted by the Company.
Independent Assurance Report. We have examined the accounting policies adopted and calculations of the underlying profit forecasts (the “Underlying Forecasts”) to the business valuation dated 28 July 2013 prepared by China Alliance Appraisal Co., Ltd. (the “Valuer”) in respect of the valuation of Digital China Information Service Co., Ltd. (“DCITS”) in connection with the disposal of approximately 60.98% equity interests in DCITS and acquisition of approximately 45.17% equity interests in Shenzhen Techo Telecom Co., Ltd, which has been reviewed and approved by the State-owned Assets Supervision and Administration Commission of Jiangsu Province. The Underlying Forecasts are regarded as profit forecasts under Rule 14.61 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the “Listing Rules”) and will be included in the announcement to be issued by the Company on 26 August 2013 (the “Announcement”).
