Shanghai Baolong Automotive Corporation(603197) : opinion letter of Shanghai Shenwei Assets Appraisal Co., Ltd. on the valuation of equity value of Shanghai Longgan Automobile Technology Co., Ltd

Shanghai Baolong Automotive Corporation(603197) : opinion letter of Shanghai Shenwei Assets Appraisal Co., Ltd. on the valuation of equity value of Shanghai Longgan Automobile Technology Co., Ltd. Shanghai Baolong Automotive Corporation(603197) Shanghai Longgan Automobile Technology Co., Ltd.: on December 31, 2021, our company issued the valuation report on the value of all shareholders’ equity of the company’s simulated caliber involved in Shanghai Baolong Automotive Corporation(603197) planning to understand the market value of Shanghai Longgan Automobile Technology Co., Ltd. (Hu Shen Wei Zi Zi (2021) No. 1270) (hereinafter referred to as the “previous valuation report”). Taking September 30, 2021 as the valuation base date, on the premise that the assumptions are tenable, Shanghai Longgan Automobile Technology Co., Ltd. (hereinafter referred to as “Longgan technology”) estimates the value of all shareholders’ equity based on the income method as RMB 385.8 million, in words: RMB three hundred eighty-five million eight hundred thousand only