This report is prepared in accordance with China's asset appraisal standards.
Hubei Nengte Technology Co., Ltd. Investment Property of Shanghai Wutian Industrial Co., Ltd. for Financial Reporting Purposes
Asset Appraisal Report
Tongzhi Xinde Appraisal Report No. (2026) 010142
TONGZHIXINDE (BEIJING) ASSETS APPRAISAL CO., LTD. Tongzhi Xinde (Beijing) Assets Appraisal Co., Ltd. April 22, 2026
TABLE OF CONTENTS
Statement 2 Summary 3 Main Body 5 I. Overview of the Client, Property Owner, and Other Users of the Appraisal Report as Agreed in the Asset Appraisal Commission Contract 5 II. Appraisal Purpose 6 III. Appraisal Object and Scope 6 IV. Value Type 7 V. Appraisal Base Date 7 VI. Appraisal Basis 8 VII. Appraisal Method 9 VIII. Appraisal Procedures and Implementation 11 IX. Appraisal Assumptions 12 X. Appraisal Conclusion 13 XI. Special Matters Statement 13 XII. Restrictions on the Use of the Appraisal Report 14 XIII. Date of the Asset Appraisal Report 15 XIV. Signatures of Asset Appraisers and Seal of the Asset Appraisal Institution 15 Appendices to the Asset Appraisal Report 17
Tongzhi Xinde (Beijing) Assets Appraisal Co., Ltd. Page -1-
STATEMENT
- This asset appraisal report is prepared in accordance with the Basic Standard for Asset Appraisal issued by the Ministry of Finance and the Professional Ethics Code for Asset Appraisers and the Professional Practice Code for Asset Appraisers issued by the China Appraisal Society.