Core Viewpoint - The response from Shanghai Zhonghua Asset Appraisal Co., Ltd. addresses the inquiries from the Shenzhen Stock Exchange regarding the merger and acquisition of DreamNet Cloud Technology Group Co., Ltd., focusing on the valuation methods and the rationale behind the significant differences in asset valuations. Group 1: Valuation Methods - The asset-based approach shows a significant increase in the valuation of long-term equity investments and intangible assets compared to their book values, with a total valuation of 5.009 billion yuan and an increase of 3.9599 billion yuan, representing a 377.31% increase [3][5][10] - The income approach predicts a stable growth in operating income, aligning with industry trends and the company's actual operating conditions, with a projected increase in shareholder equity value to 13.117 billion yuan [11][14][15] Group 2: Reasons for Valuation Differences - The asset-based method primarily reflects the market value of identifiable assets and liabilities, while the income method considers future earning potential and intangible resources, leading to a more comprehensive valuation [16][18] - The income method's valuation is lower than the average of comparable cases, indicating differences in business categories, asset scales, and profitability compared to similar companies [19] Group 3: Financial Projections - The projected operating income growth rate is based on market policies, company marketing activities, and industry development trends, ensuring its reasonableness [14][15] - The forecasted operating costs and net profits are aligned with historical performance and future operational plans, demonstrating a realistic approach to financial forecasting [15][16]
梦网科技: 上海众华资产评估有限公司并购重组问询函意见回复