The laptop uses SigmaTel STAC9750-51 soundcard and it is able to install XP drivers, but there are two non-fatal exceptions during the install (which I can't log currently) and two on boot.
Attaching photos of the boot exceptions, in both of them there's
Assertion 'PhysicalAddress.HighPart == 0' failed at .../ntoskrnl/mm/ARM3/iosup.c line 73
with MmMapIoSpace failing that assert on STAC97.SYS driver load.
After the exceptions are cont-ed, it boots; I didn't get bootup sound yet.