Guangdong Lianxin Asset Appraisal Land Real Estate Valuation Co., Ltd. Reply to Shenzhen Stock Exchange Inquiry Letter Regarding Asset Valuation of Guangzhou Vigor Medical Technology Co., Ltd. (Revised Draft)

✨ AI Summary

This document is a reply from Guangdong Lianxin Asset Appraisal to the Shenzhen Stock Exchange regarding the asset valuation of Guangzhou Vigor Medical Technology Co., Ltd. It addresses inquiries about the valuation methods used, specifically the reasons for not using the market approach and the significant difference between the income and asset-based approaches. The company justifies the selection of the income approach as the final valuation basis due to the target company's rapid growth and future earnings potential.

Summary generated by AI · Always verify with source document

Full Translation

AI Translation· gemini_document

Guangdong Lianxin Asset Appraisal Land Real Estate Valuation Co., Ltd.

Regarding Guangzhou Vigor Medical Technology Co., Ltd.'s Issuance of Shares and Payment of Cash to Purchase Assets and Raise Supporting Funds Inquiry Letter Regarding Asset Valuation Issues Reply (Revised Draft)

Shenzhen Stock Exchange:

We acknowledge receipt of your Inquiry Letter Regarding the Application for Guangzhou Vigor Medical Technology Co., Ltd.'s Issuance of Shares and Payment of Cash to Purchase Assets and Raise Supporting Funds (Inquiry Letter No. (2025) 030018) issued by your esteemed exchange on November 26, 2025. The asset appraisal team of Guangdong Lianxin Asset Appraisal Land Real Estate Valuation Co., Ltd. has implemented each item listed in the Inquiry Letter. We hereby reply to the Inquiry Letter as follows, for your review.

Unless otherwise specified, terms or abbreviations used in this Reply to the Inquiry Letter (hereinafter referred to as "this Reply") have the same meanings as defined in the "Glossary" section of the Restructuring Report. In this Reply, any discrepancy in the last digit between the sum of individual items and the total sum is due to rounding. Unless otherwise specified, financial data and financial indicators cited in this Reply refer to consolidated financial data and financial indicators calculated based on such financial data.

Inquiries from the Inquiry Letter | Reply to Inquiries from the Inquiry Letter, Reference to the Restructuring Report | Amendments and Supplements to the Restructuring Report and This Reply Bold (Bold) | Songti | Kaiti (Bold)

We hereby report the specific situation as follows:

Issue Two: Regarding the Valuation of the Transaction

Free accounts get 10 full releases per month. Pro subscribers get unlimited access.