The assets appraisal report is prepared in accordance with China’s assets appraisal standards. Yunnan Copper Co.Ltd(000878) plans to acquire 38.23% equity of Yunnan Diqing Nonferrous Metals Co., Ltd. held by Yunnan Copper Co.Ltd(000878) (Group) Co., Ltd
Asset appraisal report
Zhong Lian Ping Bao Zi [2022] No. 354
Volume 1 of 3
catalogue
Declare that 1 Summary 3 I. the client, the appraised entity and other users of the asset appraisal report 6 II. Evaluation purpose 12 III. appraisal object and scope 12 IV. value type and its definition 16 v. appraisal base date 16 VI. evaluation basis 17 VII. Evaluation method 24 VIII. Implementation process and situation of the evaluation procedure 48 IX. appraisal assumptions 51 X. appraisal conclusion 52 Xi. Description of special matters 55 XII. Description of restrictions on the use of the appraisal report 64 XIII. Appraisal report date 65 accessories 67 Zhonglian assets appraisal group Co., Ltd
Statement
1、 The assets appraisal report is prepared in accordance with the basic standards for assets appraisal issued by the Ministry of Finance and the asset appraisal practice standards and professional ethics standards issued by China Assets Appraisal Association.
2、 The client or other users of the asset appraisal report shall use the asset appraisal report in accordance with the provisions of laws, administrative regulations and the scope of use specified in the asset appraisal report; If the client or other users of the asset appraisal report use the asset appraisal report in violation of the above provisions, the asset appraisal institution and its asset appraisal professionals shall not be liable.
This asset appraisal report is only for the use of the client, other users of the asset appraisal report agreed in the asset appraisal entrustment contract and users of the asset appraisal report stipulated by laws and administrative regulations; In addition, no other institution or individual can become the user of the asset appraisal report. The assets appraisal institution and appraisers remind the users of the assets appraisal report that they should correctly understand and use the appraisal conclusion. The appraisal conclusion is not equal to the realizable price of the appraisal object, and the appraisal conclusion should not be considered as a guarantee for the realizable price of the appraisal object.
3、 The authenticity, legality and integrity of the materials provided by the client and other relevant parties are the premise for the effectiveness of the appraisal conclusion. The list of assets and liabilities included in the scope of the appraisal, as well as the predictive financial information, ownership certificate and other materials required for the appraisal have been declared by the client and the appraised unit and confirmed by sealing or other means.
4、 The assets appraisal institution and appraiser have no existing or expected interest relationship with the appraisal object in the assets appraisal report; There is no existing or expected interest relationship with the relevant parties, and there is no prejudice against the relevant parties.
5、 The asset appraiser has conducted on-site investigation on the appraisal object and the assets involved in the asset appraisal report; Necessary attention has been paid to the legal ownership of the appraisal object and the assets involved, the legal ownership data of the appraisal object and the assets involved have been checked, the problems found have been truthfully disclosed, and the client and other relevant parties have been requested to improve the property rights to meet the requirements of issuing the asset appraisal report.
Zhonglian asset appraisal group Co., Ltd. page 1
6、 The analysis, judgment and results in the asset appraisal report issued by the asset appraisal institution are limited by the assumptions and restrictions in the asset appraisal report. The user of the asset appraisal report shall fully consider the assumptions, restrictions and special matters stated in the asset appraisal report and their impact on the appraisal conclusion.
7、 The asset appraisal institution and appraisers abide by laws, administrative regulations and asset appraisal standards, adhere to the principles of independence, objectivity and impartiality, and bear responsibility for the asset appraisal report issued according to law.
Zhonglian asset appraisal group Co., Ltd. page 2
Yunnan Copper Co.Ltd(000878) proposed acquisition of 38.23% equity of Yunnan Diqing Nonferrous Metals Co., Ltd. held by Yunnan Copper Co.Ltd(000878) (Group) Co., Ltd
Yunnan Copper Co.Ltd(000878) plans to acquire the 38.23% equity project of Yunnan Diqing Nonferrous Metals Co., Ltd. held by Yunnan Copper Co.Ltd(000878) (Group) Co., Ltd
Asset appraisal report
Zhong Lian Ping Bao Zi [2022] No. 354
Abstract
Zhonglian assets appraisal group Co., Ltd. accepted the entrustment of Yunnan Copper Co.Ltd(000878) , Yunnan Copper Co.Ltd(000878) (Group) Co., Ltd. for the economic behavior that Yunnan Copper Co.Ltd(000878) plans to acquire 38.23% equity of Yunnan Diqing Nonferrous Metals Co., Ltd. held by Yunnan Copper Co.Ltd(000878) (Group) Co., Ltd, The market value of all shareholders’ equity of Yunnan Diqing Nonferrous Metals Co., Ltd. on the benchmark date was evaluated.
The appraisal object is all the shareholders’ equity of Yunnan Diqing Nonferrous Metals Co., Ltd. the scope of appraisal is all the assets and related liabilities of Yunnan Diqing Nonferrous Metals Co., Ltd., including current assets, non current assets and corresponding liabilities.
The benchmark date is September 30, 2021.
The value type of this appraisal is market value.
On the premise of continuous use and open market, combined with the actual situation of the entrusted appraisal object and comprehensively considering various influencing factors, this appraisal adopts the asset-based method and income method to make an overall appraisal of Yunnan Diqing Nonferrous Metals Co., Ltd., and then makes verification and comparison, considering the applicable premise of the appraisal method and meeting the appraisal purpose, The appraisal result of asset-based method is selected as the final appraisal conclusion.
Based on the judgment of property right holders and enterprise management on the future development trend and business regulations
Yunnan Copper Co.Ltd(000878) intends to acquire 38.23% of Yunnan Diqing Nonferrous Metals Co., Ltd. held by Yunnan Copper Co.Ltd(000878) (Group) Co., Ltd
Equity assets appraisal report
The appraisal conclusion of all shareholders’ equity of Yunnan Diqing Nonferrous Metals Co., Ltd. on the benchmark date of September 30, 2021 is as follows:
The book value of all shareholders’ equity is 36090621 million yuan, the assessed value is 49040159 million yuan, and the assessed value-added is 12949538 million yuan, with a value-added rate of 35.88%.
See the following table for details:
Summary of assets appraisal results
Benchmark date: September 30, 2021
Monetary unit: RMB 10000
Increase / decrease rate of book value evaluation value%
project
A B C=B-A D=C/A × 100%
1. Current assets 58963345917497 211.63 0.36
2. Non current assets 438669555606623812199283 27.81
3 of which: long-term equity investment —
4 investment real estate —
5 fixed assets 39502249415540612051812 5.19
6 construction in progress 841201199477 -641724 -76.29
7 intangible assets 2 Shenzhen Everwin Precision Technology Co.Ltd(300115) 1308931010789195 469.07
7-1 including: land use right 9929361369957377021 37.97
8 other non current assets 1223390 —
9. Total assets 497632896198373512220446 24.56
10 current liabilities 5859887 —
11 non current liabilities 78127817083689 -729092 -9.33
12 total liabilities 1367266812943576 -729092 -5.33
13. Net assets (owner’s equity) 360906214904015912949538 35.88
When using the appraisal conclusion, users of the report are specially reminded to pay attention to the special matters specified in the report and major matters in the future.
According to the relevant laws and regulations on asset appraisal, the asset appraisal report involving legal appraisal business,
Yunnan Copper Co.Ltd(000878) proposed acquisition of 38.23% equity of Yunnan Diqing Nonferrous Metals Co., Ltd. held by Yunnan Copper Co.Ltd(000878) (Group) Co., Ltd
It must be used after the client has fulfilled the asset appraisal supervision and management procedures in accordance with the requirements of laws and regulations. The evaluation results are valid for one year, i.e. from September 30, 2021 to September 29, 2022.
The above contents are extracted from the main body of the asset appraisal report. If you want to know the details of the appraisal project and reasonably understand the appraisal conclusion, you should read the full text of the asset appraisal report.
Page 5 of Zhonglian assets appraisal group Co., Ltd. Yunnan Copper Co.Ltd(000878) plans to acquire 38.23% equity of Yunnan Diqing Nonferrous Metals Co., Ltd. held by Yunnan Copper Co.Ltd(000878) (Group) Co., Ltd
Yunnan Copper Co.Ltd(000878) plans to acquire the 38.23% equity project of Yunnan Diqing Nonferrous Metals Co., Ltd. held by Yunnan Copper Co.Ltd(000878) (Group) Co., Ltd
Asset appraisal report
Zhong Lian Ping Bao Zi [2022] No. 354
Yunnan Copper Co.Ltd(000878) , Yunnan Copper Co.Ltd(000878) (Group) Co., Ltd.:
Zhonglian asset appraisal group Co., Ltd. has accepted the entrustment of your company, adhered to the principles of independence, objectivity and impartiality, adopted the asset-based method and income method, and followed the necessary appraisal procedures in accordance with the provisions of relevant laws, administrative regulations and asset appraisal standards, With regard to the economic behavior that Yunnan Copper Co.Ltd(000878) intends to acquire 38.23% equity of Yunnan Diqing Nonferrous Metals Co., Ltd. held by Yunnan Copper Co.Ltd(000878) (Group) Co., Ltd., the market value of all shareholders’ equity of Yunnan Diqing Nonferrous Metals Co., Ltd. on the benchmark date of September 30, 2021 was evaluated. The assets appraisal is reported as follows:
1、 The client, the appraised entity and other users of the asset appraisal report
The entrusting party of this assets appraisal is Yunnan Copper Co.Ltd(000878) , Yunnan Copper Co.Ltd(000878) (Group) Co., Ltd. and the appraised entity is Yunnan Diqing Nonferrous Metals Co., Ltd.
（1） Overview of the client
1. Client I
Name: Yunnan Copper Co.Ltd(000878) (hereinafter referred to as ” Yunnan Copper Co.Ltd(000878) “)
Type: state holding listed company
Address: Kunming, Yunnan Province
