Asset Appraisal Report on the Proposed Cash Acquisition of Equity in Nanjing Estun Co., Ltd. by Estun Automation Co., Ltd. Involving the Total Equity Value

This report is prepared in accordance with China's asset appraisal standards.

Asset Appraisal Report on the Proposed Cash Acquisition of Equity in Nanjing Estun Co., Ltd. by Estun Automation Co., Ltd. Involving the Total Equity Value

Zhejiang Zhonglian Asset Appraisal Co., Ltd.

July 3, 2026

China Appraisal Society

Asset Appraisal Business Report Filing Receipt

[Chart: QR code for business inquiry]

Note: This filing receipt only certifies that the report has been filed with the business filing management system. It does not serve as an endorsement or recognition by the association, nor does it exempt the appraisal agency or the signing appraisers from relevant legal responsibilities.

Filing Receipt Generation Date: July 20, 2026

ICP Filing Number: Jing ICP 2020034749

Table of Contents

1. Declaration

2. Summary

3. I. Entrusting Party and Other Users of the Asset Appraisal Report

4. II. Purpose of Appraisal

5. III. Appraisal Object and Scope

6. IV. Value Type

7. V. Appraisal Base Date

8. VI. Appraisal Basis

9. VII. Appraisal Methods

10. VIII. Implementation Process and Status of Appraisal Procedures

11. IX. Appraisal Assumptions

12. X. Appraisal Conclusion

13. XI. Special Matters

14. XII. Restrictions on Use of Appraisal Report

15. XIII. Date of Appraisal Report

16. Appendix

Declaration

1. This asset appraisal report is prepared in accordance with the Basic Standards for Asset Appraisal issued by the Ministry of Finance and the Professional Ethics Standards for Asset Appraisal issued by the China Appraisal Society.

2. The entrusting party or other users of the asset appraisal report shall use the report in accordance with the scope stipulated by laws, administrative regulations, and this report. The appraisal agency and its professional personnel shall not be held liable if the entrusting party or other users violate these stipulations.

3. This asset appraisal report is intended solely for the entrusting party, other users stipulated in the asset appraisal contract, and users defined by laws and administrative regulations. No other organization or individual may become a user of this report.

4. The appraisal agency and appraisers remind users to correctly understand and use the appraisal conclusions. The appraisal conclusion is not equivalent to the realizable price of the appraisal object and should not be considered a guarantee of such price.

5. The authenticity, legality, and completeness of the materials provided by the entrusting party and other relevant parties are prerequisites for the effectiveness of the appraisal conclusion. The list of assets and liabilities included in the appraisal scope and the ownership certificates required for the appraisal have been declared by the entrusting party and the appraised entity and confirmed by their seals or other means.

6. The appraisal agency and appraisers have no current or expected interest in the appraisal object in this report, nor do they have any current or expected interest in the relevant parties; there is no bias toward the relevant parties.

7. The appraisers have conducted on-site investigations of the appraisal object and its related assets, and have paid necessary attention to the legal ownership status of the appraisal object and its related assets, and have verified the legal ownership materials.