Note 28 - Subsequent Event

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Subsequent Events [Text Block]

28. Subsequent event

The Company has performed an evaluation of subsequent events through the date the financial statements were issued, and has determined that there are

no

other events that are material to the financial statements except for those have discussed in below paragraphs.

In

July 2018,

in accordance with the amendment agreement signed between the Company and the noncontrolling interest holder of Chuang Fu Tian Xia (Note

15

), the Company paid the noncontrolling interest holder of Chuang Fu Tian Xia

RMB3.5

million (approximately

US$0.53

million) in relation to the acquisition of the

49%

equity interest in Chuang Fu Tian Xia.

As discussed in Note

8

above, in early

August 2018,

the Company received

RMB3.0

million (approximately

US$0.45

million) investment return from its investee company, ChinaNet Chuangtou, which had become dormant as of the date hereof.