This report is prepared in accordance with China’s asset appraisal standards
Songcheng Performance Development Co.Ltd(300144) equity involved in the proposed transfer
Value appraisal project of all shareholders’ equity of Songcheng Performance Development Co.Ltd(300144) International Development Co., Ltd
assets valuation statement
Zhzqhpbz (2022) No. 0120
(Volume 1 of 1)
Zhejiang zhongqihua Assets Appraisal Co., Ltd
April 22, 2002
catalogue
Declare that 2. Summary of asset appraisal report 4. Text of the assets appraisal report six
1、 The client, the appraised unit and other users of the asset appraisal report agreed in the asset appraisal entrustment contract six
2、 Evaluation purpose eleven
3、 Evaluation object and scope eleven
4、 Value type and its definition twelve
5、 Appraisal base date thirteen
6、 Evaluation basis thirteen
7、 Evaluation method fifteen
8、 Evaluation procedure implementation process and situation seventeen
9、 Assessment assumptions nineteen
10、 Assessment conclusion twenty
11、 Special notes twenty-one
12、 Description of restrictions on the use of asset appraisal report twenty-three
13、 Asset appraisal report date twenty-four
14、 Signature and seal twenty-four
Annex to the assets appraisal report twenty-five
Zhejiang zhongqihua Assets Appraisal 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 asset appraisal institution and its 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.
3、 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 the asset appraiser shall not be liable.
The asset appraisal report can only be used by 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 agency and appraisers remind the users of the assets appraisal report that they should correctly understand 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.
4、 The list of assets and liabilities involved in the appraisal object shall be declared by the relevant parties and confirmed by signature, seal or other methods permitted by law; Relevant parties shall be responsible for the authenticity, integrity and legitimacy of the materials provided by them according to law.
5、 Limited by the objective conditions of covid-19 epidemic, the asset appraisal professionals failed to conduct on-site investigation on Songcheng Performance Development Co.Ltd(300144) International Development Co., Ltd. and its overseas subsidiaries and grandchildren. According to the type, quantity and distribution of assets included in the scope of appraisal, and with the cooperation of relevant personnel of the appraised unit, asset appraisal professionals have adopted alternative appraisal procedures such as remote verification, remote inventory and remote interview. It is judged that the adoption of the above alternative procedures has not had a significant impact on the evaluation conclusion. Asset appraisal professionals have paid necessary attention to the legal ownership of the appraisal object and the assets involved, checked the legal ownership data of the appraisal object and the assets involved, truthfully disclosed the problems found, and
Zhejiang zhongqihua Assets Appraisal Co., Ltd
The client and other relevant parties have been requested to improve the property rights to meet the requirements for issuing the asset appraisal report. 6、 The assets appraisal institution and appraisers have no existing or expected interest relationship with the appraisal object in the assets appraisal report, have no existing or expected interest relationship with relevant parties, and have no prejudice against relevant parties.
7、 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.
8、 In the assets appraisal report, if there is a tail difference between the total count and the sum of the itemized values in all tables or written statements with the amount unit of 10000 yuan, it is caused by rounding.
Zhejiang zhongqihua Assets Appraisal Co., Ltd
Summary of assets appraisal report
Songcheng Performance Development Co.Ltd(300144) ：
Zhejiang zhongqihua Assets Appraisal Co., Ltd. has accepted the entrustment of Songcheng Performance Development Co.Ltd(300144) to appraise the market value of all shareholders’ rights and interests of Songcheng Performance Development Co.Ltd(300144) International Development Co., Ltd. involved in the equity transfer of Songcheng Performance Development Co.Ltd(300144) in accordance with the provisions of laws, administrative regulations and asset appraisal standards, adhering to the principles of independence, objectivity and impartiality, and in accordance with the necessary appraisal procedures. The asset appraisal report is summarized as follows:
Appraisal purpose: to provide value reference for Songcheng Performance Development Co.Ltd(300144) equity transfer.
Appraisal object: Songcheng Performance Development Co.Ltd(300144) International Development Co., Ltd.
Appraisal scope: all assets and liabilities of Songcheng Performance Development Co.Ltd(300144) International Development Co., Ltd., including current assets, non current assets (long-term equity investment, other equity instrument investment) and current liabilities.
Benchmark date: December 31, 2021
Value type: market value
Appraisal method: asset based method
Assessment conclusion:
As of the benchmark date December 31, 2021, the book value of the total assets of Songcheng Performance Development Co.Ltd(300144) International Development Co., Ltd. is HK $825073400, the appraisal value is HK $851922600, the added value is HK $26849200, and the appreciation rate is 3.25%; The book value of total liabilities is HK $149708600, the appraisal value is HK $149951500, the appreciation amount is HK $242900, and the appreciation rate is 0.16%; The book value of all shareholders’ equity is HK $675364800 (the book value has been audited by Lixin Certified Public Accountants (special general partnership) and issued a standard unqualified audit report). The assessed value is HK $701971000, the added value is HK $260663 million and the appreciation rate is 3.94%. See the following table for specific evaluation results:
Monetary unit: HK $10000
Increase / decrease rate of project book value evaluation value%
Current assets 20380662038612 5.46 0.03
Increase / decrease rate of project book value evaluation value%
Non current assets 62126686480613267946 4.31
Long term equity investment 61022716369614267343 4.38
Investment in other equity instruments 110397110999 6.03 0.55
Total assets 82507348519226268492 3.25
Current liabilities 14970861499515 24.29 0.16
Total liabilities 14970861499515 24.29 0.16
Total equity (net assets) of shareholders 67536487019710266063 3.94
According to the central parity rate of RMB 0.8176 published by the people’s Bank of China on December 31, 2021, the evaluation results converted into RMB are shown in the following table:
Monetary unit: RMB 10000
Increase / decrease rate of project book value evaluation value%
Current assets 16663231666769 4.46 0.03
Non current assets 50794775298550219073 4.31
Long term equity investment 49892175207797218580 4.38
Investment in other equity instruments 902.60 907.53 4.93 0.55
Total assets 67458006965319219519 3.25
Current liabilities 12240181226004 19.86 0.16
Total liabilities 12240181226004 19.86 0.16
Total equity (net assets) of shareholders 55217825739315217533 3.94
Note: the main reason for the difference between the book value converted into RMB and the data in the financial statements in the audit report (the amount of Hong Kong dollars before conversion is consistent with the audit) is that the audit converts the book value of long-term equity investment on the benchmark date at the historical exchange rate at the time of capital contribution. This appraisal converts the book value according to the central parity of RMB exchange rate published by the people’s Bank of China at the benchmark date.
The assets appraisal report only provides value reference for the economic behavior described in the report. The validity period of the appraisal conclusion is from December 31, 2021 to December 30, 2022.
The user of the asset appraisal report shall give full consideration to the assumptions, limiting conditions, special matters and their impact on the appraisal stated in the asset appraisal report
