*ST海华: 茫崖源鑫能源有限公司拟股权收购所涉及若羌源鑫能源有限公司股东全部权益价值资产评估报告

Core Viewpoint - The asset appraisal report evaluates the total equity value of Ruoqiang Yuanxin Energy Co., Ltd. for the proposed equity acquisition by Mangya Yuanxin Energy Co., Ltd., providing a fair market value as of May 31, 2025 [3][4][25]. Group 1: Appraisal Purpose and Scope - The purpose of the appraisal is to reflect the market value of the total equity of Ruoqiang Yuanxin Energy Co., Ltd. as of the appraisal benchmark date, providing a reference for the economic behavior of the proposed acquisition [3][7]. - The appraisal object is the total equity value designated by the client, covering all audited assets and related liabilities of Ruoqiang Yuanxin Energy Co., Ltd. as of the benchmark date [3][7]. Group 2: Financial Overview - The total book assets amount to 17.0735 million yuan, with current assets of 4.5667 million yuan and non-current assets of 12.5067 million yuan [3][4]. - The total liabilities are 10.0232 million yuan, consisting of current liabilities of 3.9232 million yuan and non-current liabilities of 6.1 million yuan [3][4]. Group 3: Valuation Methods and Results - The appraisal employs both the income approach and the asset-based approach, with the income approach yielding a valuation of 8.2766 million yuan, reflecting an increase of 1.2263 million yuan and a growth rate of 17.39% [4][25]. - The asset-based approach results in a valuation of 8.1745 million yuan, with an increase of 1.1242 million yuan and a growth rate of 6.58% [24][25]. - The difference between the two valuation methods is 0.1021 million yuan, with a discrepancy rate of 1.25%, indicating that the income approach is more favorable for reflecting the value of the appraisal object [25][26]. Group 4: Conclusion - The final appraisal conclusion for the total equity value of Ruoqiang Yuanxin Energy Co., Ltd. is 8.2766 million yuan, based on the income approach, which is deemed more reflective of the company's value considering its future earning potential [25][26].