Zhejiang Ssaw Boutique Hotels Co.Ltd(301073) : appraisal report of Zhejiang Junlan Hotel Management Co., Ltd

Zhejiang Ssaw Boutique Hotels Co.Ltd(301073) : appraisal report of Zhejiang Junlan Hotel Management Co., Ltd. Zhejiang Ssaw Boutique Hotels Co.Ltd(301073) : Junlan Hotel Group Co., Ltd., Zhejiang Ssaw Boutique Hotels Co.Ltd(301073) : zhongtonghua asset appraisal (Shanghai) Co., Ltd. (hereinafter referred to as “zhongtonghua Shanghai” or our company) has accepted your entrustment and adopted the recognized appraisal method in accordance with relevant laws, regulations, asset appraisal standards and asset appraisal principles, According to the necessary appraisal procedures, the market value of all shareholders’ equity of Zhejiang Junlan Hotel Management Co., Ltd. on the benchmark date was appraised. The summary of the appraisal report is as follows: the of appraisal I | provides a value reference basis for Zhejiang Ssaw Boutique Hotels Co.Ltd(301073) to acquire the equity of Zhejiang Junlan Hotel Management Co., Ltd