600679: Shanghai Phoenix Enterprise (Group) Co.Ltd(600679) : appraisal report of Shanghai Cairui Assets Appraisal Co., Ltd. on the asset group related to Tianjin Tianren’s proposed acquisition of Tianjin Hongyu bicycle (Hu Cai Rui Ping Bao Zi 2021 No. 2077)

600679: Shanghai Phoenix Enterprise (Group) Co.Ltd(600679) : the appraisal report of Shanghai Cairui Assets Appraisal Co., Ltd. on Tianjin Tianren’s proposed acquisition of Tianjin Hongyu bicycle related asset group (Hucai Rui Ping Bao Zi 2021 No. 2077) I. This assets appraisal report is prepared in accordance with the basic assets appraisal standards 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: before the client or other users of the asset appraisal report violate