Investment Summary

China Tower Co., Ltd. (the Company) was established in 2014. The Company is a Chinese communications tower infrastructure service provider. The Company’s main business includes tower services based on site resources and communications operators, room services, as well as address resource services and site-based information services for customers in different industries.

A unique asset economic moat China Tower is the world’s largest telecommunications tower infrastructure service provider. According to the Frost & Sullivan Report (F&S Report), in and as of December 31, 2017, the Company ranked first among the global telecommunications tower infrastructure service providers in terms of number of sites, number of tenants and revenue. As of December 31, 2017, the Company’s market share in China’s telecommunications tower infrastructure market was 96.3% and 97.3% in terms of revenue. In other words, the Company is a monopoly of the industry leader to enjoy a unique advantage.