Explanation on the Independence of the Appraisal Institution and Related Matters by the Board of Directors
Hangzhou Wanlong Optoelectronic Equipment Co., Ltd. (hereinafter referred to as "the listed company" or "the company") intends to issue shares and pay cash to acquire 100% of Zhejiang Zhongkong Information Industry Co., Ltd. (hereinafter referred to as "the target company") and raise supporting funds (hereinafter referred to as "this transaction"). The company has appointed Beijing Zhongqi Hua Asset Appraisal Co., Ltd. (hereinafter referred to as "Zhongqi Hua Appraisal") as the appraisal institution for this transaction, which has issued a relevant "Asset Appraisal Report" for this transaction.
According to the provisions of the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, and the Administrative Measures for Major Asset Restructuring of Listed Companies, the board of directors of the company has reviewed the independence of the appraisal institution, the reasonableness of the appraisal assumptions, the relevance of the appraisal methods to the appraisal objectives, and the fairness of the appraisal pricing as follows: