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Valuation Report on the Total Shareholders' Equity of Changsha Yuanfusi Technology Co., Ltd. Involved in the Proposed Share Issuance and Acquisition by Zhejiang Jieimei Electronic Technology Co., Ltd.
Jinzheng Appraisal Report [2026] No. A0642
(Volume 1 of 1)
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Jinzheng (Shanghai) Asset Appraisal Co., Ltd.
August 07, 2026
China Appraisal Society
Valuation Report Filing Receipt
Report Code: 3132020024202600435
Contract Number: Jinzheng Tongzi [2026] A03077
Report Type: Statutory Asset Valuation Report
Report Number: Jinzheng Appraisal Report [2026] A0642
Report Name: Valuation Report on the Total Shareholders' Equity of Changsha Yuanfusi Technology Co., Ltd. Involved in the Proposed Share Issuance and Acquisition by Zhejiang Jieimei Electronic Technology Co., Ltd.
Valuation Conclusion: RMB 915,000,000.00
Valuation Report Date: August 07, 2026
Valuation Agency: Jinzheng (Shanghai) Asset Appraisal Co., Ltd.
Signatories: Jiang Chengling (Appraiser) Membership No.: 31180012; Tao Yi-jun (Appraiser) Membership No.: 31180021
Jiang Chengling, Tao Yi-jun have signed in person.
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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 of the report by the association, nor does it exempt the valuation agency and its signing professionals from relevant legal liabilities.
Filing Receipt Generation Date: August 07, 2026
ICP Filing: Jing ICP 2020034749
Table of Contents
Statement: 2
Summary: 3
Main Text: 4
I. Overview of the Client, the Appraised Entity, and Other Users of the Valuation Report: 4
II. Purpose of Valuation: 11
III. Valuation Object and Scope: 11
IV. Value Type: 13
V. Valuation Base Date: 13
VI. Valuation Basis: 13
VII. Valuation Methods: 16
VIII. Implementation Process and Situation of Valuation Procedures: 23
IX. Valuation Assumptions: 24
X. Valuation Conclusion: 25
XI. Special Matters: 27
XII. Restrictions on the Use of the Valuation Report: 28
XIII. Date of the Valuation Report: 29
Appendices: 31
Statement
I. This asset valuation report is prepared in accordance with the Asset Valuation Standards issued by the Ministry of Finance and the Asset Valuation Standards issued by the China Appraisal Society.
II. The client or other users of the asset valuation report shall use the asset valuation report within the scope of use stated in the report; if the client or other users of the asset valuation report violate the aforementioned scope of use, the valuation agency and the asset appraisers shall not bear any responsibility.
The asset valuation report is intended solely for the users of the asset valuation report agreed upon in the asset valuation engagement contract; beyond this, no other organization or individual may be a user of the asset valuation report.
The valuation agency and the asset appraisers remind the users of the asset valuation report to correctly understand and use the valuation conclusion. The valuation conclusion is not equivalent to the price that the valuation object can achieve, and the valuation conclusion should not be considered as a guarantee that the valuation object can achieve that price.
III. The valuation agency and the asset appraisers abide by laws, administrative regulations, and asset valuation standards, adhere to the principles of independence, objectivity, and fairness, and bear legal responsibility for the issued asset valuation report.
IV. The list of assets and liabilities and the future earnings forecasts involved in the valuation object are declared by the client and the appraised entity and confirmed by them through signatures, seals, or other methods permitted by law; the client and other relevant parties are responsible for the authenticity, completeness, and legality of the materials provided.
V. The valuation agency and the asset appraisers have no existing or expected interest relationship with the valuation object in the asset valuation report; they have no prejudice against the relevant parties.