Exhibit 21.1

LIST OF SUBSIDIARIES AND VARIABLE INTEREST ENTITY

Name	Place of Incorporation	Ownership interest attributable to the Company
NCN Group Limited	British Virgin Islands	100%
NCN Media Services Limited	British Virgin Islands	100%
Cityhorizon Limited	Hong Kong	100%
NCN Group Management Limited	Hong Kong	100%
Crown Eagle Investment Limited	Hong Kong	100%
Crown Winner International Limited	Hong Kong	100%
NCN Group (Global) Limited	Hong Kong	100%
ChenXing (Beijing) Advertising Co., Ltd	The PRC	100%
Ruibo (Shenzhen) Advertising Co., LTD	The PRC	100%
NCN (Ningbo) Culture Media Co., Ltd	The PRC	100%
NCN (Nanjing) Culture Co., Ltd	The PRC	100%
NCN (Beijing) Advertising Co., Ltd.	The PRC	100%
NCN (Tianjin) Culture Co., Ltd	The PRC	100%
NCN Huamin Management Consultancy (Beijing) Company Limited (2)	The PRC	100%
Huizhong Lianhe Media Technology Co., Ltd. (2)	The PRC	100%
Beijing Huizhong Bona Media Advertising Co., Ltd. (2)	The PRC	100% (1)
Xingpin Shanghai Advertising Limited (3)	The PRC	100% (1)
Chuanghua Shanghai Advertising Limited (3)	The PRC	100%
Jiahe Shanghai Advertising Limited (2)	The PRC	100%

 Note:

(1) Variable interest entity which the Company exerted 100% control through a set of commercial arrangements.

(2) The subsidiary/variable interest entity ’s business license has been revoked.

(3) The subsidiary/variable interest entity was classified as abnormal operation business.