About TSO Company

The Group's main business is to provide repair and refurbishment services for mobile phones and other personal electronic products. Telecom Capital, an operating subsidiary of the Company, has been appointed by corporate customers (including mobile phone and personal electronics manufacturers, telecommunications service providers and global service companies) to provide repair and refurbishment services for such products. The Group's maintenance and refurbishment services mainly cover mobile phones, pagers, two-way mobile data communication devices, personal computers, tablets, portable media players, video game consoles and handheld game consoles. Mobile phone and other personal electronics manufacturers generally obtain repair and refurbishment services for end users. Manufacturers generally appoint global or domestic service providers to repair and refurbish products that are under or have expired, rather than setting up their own large maintenance teams around the world. Global service providers may also hire domestic service providers to undertake maintenance and refurbishment work. Mobile phone manufacturers may require mobile network operators to provide a warranty for mobile phones sold by the operator to users of the operator's services, and such operators may also choose to outsource maintenance services to service providers.