Asset Appraisal Report on the Total Equity of Shareholders of Henan Tianxuan Semiconductor Technology Co., Ltd. Involved in the Proposed Capital Increase by Original Shareholders
Yinxin Appraisal Report No. S00027 (2026)
(One volume, Volume 1)
Yinxin Asset Appraisal Co., Ltd.
June 30, 2026
Table of Contents
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Statement
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Summary
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Main Text
I. Overview of the Client, the Appraised Entity, and Other Users of the Asset Appraisal Report
II. Purpose of Appraisal
III. Object and Scope of Appraisal
IV. Value Type and Definition
V. Appraisal Base Date
VI. Basis for Appraisal
VII. Appraisal Methods
VIII. Implementation Process and Status of Appraisal Procedures
IX. Appraisal Assumptions
X. Appraisal Conclusion
XI. Explanation of Special Matters
XII. Explanation of Restrictions on the Use of the Asset Appraisal Report
XIII. Date of the Asset Appraisal Report
XIV. Signatures of Asset Appraisal Professionals and Seal of the Asset Appraisal Institution
Attachments
Statement
I. This asset appraisal report is prepared in accordance with the Basic Standards for Asset Appraisal issued by the Ministry of Finance and the Asset Appraisal Practice Standards and Code of Ethics issued by the China Appraisal Society.
II. The client or other users of the asset appraisal report shall use the report in accordance with laws, administrative regulations, and the scope of use specified herein. This appraisal institution and its professionals shall not be held liable if the client or other users violate these provisions.
III. This report is intended solely for the client, other users specified in the asset appraisal engagement contract, and users defined by laws and administrative regulations. No other institution or individual may become a user of this report.
IV. Users should correctly understand and use the appraisal conclusion. The conclusion is not equivalent to the realizable price of the appraised object and should not be considered a guarantee of such price.
V. Users should pay attention to the assumptions, special explanations, and usage restrictions upon which the conclusion is based.
VI. This institution and its professionals adhere to the principles of independence, objectivity, and fairness, and assume legal responsibility for the issued report.
VII. The list of assets, liabilities, and profit forecasts involved were declared by the client and the appraised entity, and confirmed by their signatures, seals, or other legally permitted means. The client and relevant parties are responsible for the authenticity, completeness, and legality of the provided materials.
VIII. This institution and the appraisers have no existing or expected interest in the appraised object or relevant parties, and hold no bias.
IX. Appraisers have conducted on-site investigations, paid necessary attention to the legal ownership of the assets, verified relevant documentation, disclosed discovered issues, and requested the client to perfect property rights to meet the requirements for issuing this report.
Summary
I. Project Name: Asset Appraisal Project for the Total Equity of Shareholders of Henan Tianxuan Semiconductor Technology Co., Ltd. Involved in the Proposed Capital Increase by Original Shareholders
II. Client: Henan Tianxuan Semiconductor Technology Co., Ltd.
III. Other Users: Users defined by national laws and administrative regulations.
IV. Appraised Entity: Henan Tianxuan Semiconductor Technology Co., Ltd.
V. Purpose: Capital increase.
VI. Economic Activity: Original shareholders of Henan Tianxuan Semiconductor Technology Co., Ltd. propose a capital increase. This appraisal provides a value reference for related decision-making.
VII. Object: Total shareholder equity of the appraised entity as of the base date.
VIII. Scope: All assets and liabilities of the appraised entity as of the base date.
IX. Value Type: Market value.
X. Base Date: March 31, 2026.
XI. Methods: Income approach, market approach.
XII. Conclusion: As of the base date, under the assumptions and constraints listed, the market value of the total shareholder equity using the market approach is 802,000,000.00 RMB. Compared to the consolidated book owner's equity of 379,759,700.00 RMB, the appreciation is 422,240,300.00 RMB, with an appreciation rate of 111.19%.