This report is prepared in accordance with the Asset Appraisal Standards of China.
Shenzhen Meizhi Decoration Design Engineering Co., Ltd. Proposed Debt Collateral Asset Appraisal Project Involving 9 Real Estate Properties in Urumqi Eurasia Trade Center and Baiyahu Wealth Plaza
Asset Appraisal Report
Zhe Lian Ping Bao Zi [2026] No. 459
Zhejiang Zhonglian Asset Appraisal Co., Ltd.
June 9, 2026
Table of Contents
Declaration 1 Summary 3 I. Client and Other Users of the Asset Appraisal Report 5 II. Purpose of Appraisal 8 III. Appraisal Object and Scope 8 IV. Value Type 8 V. Appraisal Base Date 9 VI. Appraisal Basis 9 VII. Appraisal Methods 11 VIII. Implementation Process and Status of Appraisal Procedures 12 IX. Appraisal Assumptions 14 X. Appraisal Conclusion 15 XI. Special Matters 15 XII. Restrictions on Use of Appraisal Report 15 XIII. Date of Appraisal Report 18 Appendix 20
Declaration
I. 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 and Practice Standards for Asset Appraisal issued by the China Appraisal Society.
II. The client or other users of the asset appraisal report shall use the asset appraisal report in accordance with the provisions of laws, administrative regulations, and the scope of use stated in the asset appraisal report. The asset appraisal institution and its asset appraisal professionals shall not be held liable if the client or other users violate the provisions regarding the use of the asset appraisal report.
This asset appraisal report is intended solely for the client, other users of the asset appraisal report as stipulated in the asset appraisal engagement contract, and users as stipulated by laws and administrative regulations. No other organization or individual may become a user of this asset appraisal report.
The asset appraisal institution and asset appraisers remind users of the asset appraisal report to correctly understand and use the appraisal conclusion. The appraisal conclusion is not equivalent to the realizable price of the appraisal object and should not be considered a guarantee of the realizable price of the appraisal object.
III. The authenticity, legality, and completeness of the materials provided by the client and other relevant parties are the prerequisites for the effectiveness of the appraisal conclusion. Materials such as the asset list and ownership certificates included in the appraisal scope have been declared by the client and the property owners and confirmed by them through stamping or other means.
IV. The asset appraisal institution and asset appraisers have no existing or expected interest in the appraisal object in this asset appraisal report, nor do they have any existing or expected interest in the relevant parties, and they have no bias toward the relevant parties.
V. The asset appraisers have conducted on-site investigations of the appraisal object and its related assets in the asset appraisal report, have paid necessary attention to the legal ownership status of the appraisal object and its related assets, and have verified the legal ownership materials of the appraisal object and its related assets.
VI. The analysis, judgment, and results in the asset appraisal report issued by this asset appraisal institution are subject to the assumptions and limiting conditions in the asset appraisal report. Users of the asset appraisal report should fully consider the impact of the assumptions, limiting conditions, special matters, and their impact on the appraisal conclusion stated in the asset appraisal report.
VII. This asset appraisal institution and asset appraisers abide by laws, administrative regulations, and asset appraisal standards, adhere to the principles of independence, objectivity, and fairness, and assume legal responsibility for the asset appraisal report issued.