1. COLUMBIA CIRCLE
   1. WANG Yingbin 汪英賓
   2. LIN Zhenbin 林振彬 [alias C.P. LING]
2. FRENCH CIRCLE
   1. ORIENTAL PRESS
   2. ORIENTAL ADVERTISING AGENCY (OAA)
   3. COMPAGNIE FRANCAISE DE TRAMWAY ET D'ELECTRICITE (CFTE)
3. MISSOURI CIRCLE
   1. Carl Crow
      1. CARL CROW, INC.
         1. Lux Toilet Soap 力士香皂 [Lishi xiangzao]
         2. Eastman Kodak Company 伊士曼柯達公司 [Yishiman keda gongsi]
         3. Eastman Kodak Company 伊士曼柯達公司 [Yishiman keda gongsi]
         4. Sanatogen 㪚拿吐瑾 [Sannatujin]
   2. Tong, K. Hollington
   3. China Press 大陸報 [Dalubao] (1911)
   4. Shanghai Evening Post & Mercury (1929)
4. SHENBAO CIRCLE
   1. SHI Liangcai 史量才 (General Manager, Shareholder)
   2. CHEN Leng 陳冷 [alias CHEN Jinghan] (Shareholder)
   3. YING Jizhong (Shareholder)
   4. ZHAO Fengchang (Shareholder)
   5. ZHANG Jian (Shareholder)
   6. 戈公振 GE Gongzhen (Journalist)
   7. HU Hanzhu (Journalist)
   8. PAN Yangyao (Journalist)
   9. YE Jianbai 叶建伯 (Journalist)
5. COMMERCIAL PRESS CIRCLE
6. CONSOLIDATED NATIONAL ADVERTISING CO. [alias UNITED ADVERTISING AGENCY] 聯合廣告公司 [Lianhe guanggao gonsi]
   1. 张竹平 ZHANG Zhuping
   2. 陆守论 LU Shoulun
   3. 陆梅僧 LU Meiseng
   4. 姚君偉 YAO, Chun Wei
   5. 鄭耀南 ZHENG Yaonan
   6. 王鶯 WANG Ying
7. CHINA PUBLICITY COMPANY 中國商務廣告公司 [zhongguo shangwu guanggao gongsi]
8. CHINA COMMERCIAL ADVERTISING AGENCY (CCAA) 華商廣告公司 [Huashang guanggao gonsi]
9. ADVERTISING ASSOCIATION OF CHINA [Shanghai] (1924)
10. Millington, F.C.
    1. MILLINGTON, LTD.