Reply (Revised Draft) from Beijing China Enterprise Appraisals Co., Ltd. to the Shenzhen Stock Exchange's "Audit Inquiry Letter on the Application for Issuance of Shares for Asset Acquisition and Raising of Supporting Funds by Chongqing Xinlv Times Technology Co., Ltd."

Beijing China Enterprise Appraisals Co., Ltd.

June 2026

Shenzhen Stock Exchange:

Chongqing Xinlv Times Technology Co., Ltd. (hereinafter referred to as the "Listed Company," "Company," or "Xinlv Times") received the "Audit Inquiry Letter on the Application for Issuance of Shares for Asset Acquisition and Raising of Supporting Funds by Chongqing Xinlv Times Technology Co., Ltd." (Audit Letter [2025] No. 030013) (hereinafter referred to as the "Inquiry Letter") issued by your exchange on September 23, 2025. Beijing China Enterprise Appraisals Co., Ltd. has conducted a line-by-line verification of the questions raised in the Inquiry Letter and provides this written response and audit.

Unless otherwise specified, the abbreviations used in this response have the same meanings as those in the restructuring report.

In this response, any discrepancies between the totals and the sums of the individual items are due to rounding, unless otherwise specified.

Question 3: Regarding the operating performance and financial status of the target assets