Asset Valuation Report for the Acquisition of All Equity Interests of Shenzhen Hengyang Data Co., Ltd. by Shenzhen Zhishang Technology Co., Ltd.

This report is prepared in accordance with the Chinese Asset Valuation Standards by Beijing Guorong Xinghua Asset Appraisal Co., Ltd. on April 20, 2026. Address: 7th Floor, Baojing Building, 189 Andingmen Outer Street, Dongcheng District, Beijing. Phone: 010-51667811. Fax: 010-82253743. Email: grxh@grcpv.com.

Table of Contents

1. Statement
2. Summary
3. Asset Valuation Report
   1. Client, Assessed Entity, and Other Users of the Asset Valuation Report
   2. Purpose of the Valuation
   3. Valuation Object and Scope
   4. Type of Value
   5. Valuation Benchmark Date
   6. Basis for Valuation
   7. Valuation Methods
   8. Implementation Process and Situation of Valuation Procedures
   9. Valuation Assumptions
   10. Valuation Conclusion
   11. Special Matters Statement
   12. Limitations on the Use of the Asset Valuation Report
   13. Date of the Asset Valuation Report
   14. Signature and Seal of the Asset Valuation Institution and Valuer
   15. Attachments to the Asset Valuation Report

Statement

1. This asset valuation report is prepared based on the basic standards for asset valuation issued by the Ministry of Finance and the professional standards and ethical guidelines issued by the China Appraisal Society.
2. The client or other users of the asset valuation report must use the report in accordance with the laws, administrative regulations, and the scope of use specified in this asset valuation report; the asset valuation institution and its valuers shall not bear responsibility for any violations of the aforementioned regulations by the client or other users. This asset valuation report is only for the use of the client, other users specified in the asset valuation contract, and users specified by laws and administrative regulations; no other institutions or individuals may become users of the asset valuation report. The asset valuation institution and valuers remind users of the asset valuation report to correctly understand and use the valuation conclusions, which do not equate to the realizable price of the valuation object and should not be considered a guarantee of the realizable price.
3. The asset valuation institution and its valuers comply with laws, administrative regulations, and asset valuation standards, adhere to the principles of independence, objectivity, and fairness, and bear legal responsibility for the asset valuation report issued.
4. The list of assets and liabilities involved in the valuation object and the business operation forecast materials are declared by the client and the assessed entity and confirmed by their signatures, seals, or other legally permitted methods; the client and other relevant parties are legally responsible for the authenticity, completeness, and legality of the materials provided.
5. The asset valuation institution and valuers have no existing or anticipated interest relationships with the valuation object in the asset valuation report and have no existing or anticipated interest relationships with relevant parties, and there is no bias against relevant parties.
6. The asset valuers have conducted on-site investigations of the valuation object and its involved assets; they have paid necessary attention to the legal ownership status of the valuation object and its involved assets, verified the legal ownership materials, disclosed any discovered issues truthfully, and have urged the client and other relevant parties to improve ownership to meet the requirements for issuing the asset valuation report.
7. The analysis, judgments, and results in the asset valuation report issued by the asset valuation institution are subject to the assumptions and limitations stated in the asset valuation report, and users of the asset valuation report should fully consider the assumptions, limitations, special matters statement, and their impact on the valuation conclusions.