Core Viewpoint - The article highlights the recent actions taken by the Chongqing Asset Evaluation Association against a firm that engaged in low-cost bidding practices, emphasizing the need for compliance with industry standards and the importance of fair competition in the asset evaluation sector [1][4][5]. Group 1: Regulatory Actions - The Chongqing Asset Evaluation Association issued a notice regarding a firm that allegedly used bidding prices below the cost to secure contracts, which is a violation of the "Implementation Opinions" aimed at preventing unfair competition [4][5]. - Following an interview with the association, the firm voluntarily relinquished its winning bid and committed to adhering to industry norms in future operations [3][4]. Group 2: Industry Response - The article notes that various regulatory bodies, including the China Asset Evaluation Association and the Interbank Market Dealers Association, have introduced "anti-involution" regulations to combat low-price bidding practices among intermediary institutions [2][8]. - The Interbank Market Dealers Association has also implemented measures to strengthen self-regulation in bond underwriting, prohibiting bids below cost and enhancing internal management of underwriting quotes [10][9]. Group 3: Importance of Compliance - The Chongqing Asset Evaluation Association emphasized that some institutions are not adequately aware of the evolving industry policies and continue to approach compliance limits, indicating a lack of understanding of the significance of resisting low-price competition [5][4]. - The association urged all institutions to adopt a high-quality development mindset, enhance self-discipline, and collaborate to improve service quality while resisting harmful low-price competition [5].

Core Viewpoint - The Chinese government is emphasizing the importance of financial integrity and has taken significant steps to combat financial fraud and maintain a fair market economy during the "14th Five-Year Plan" period [1] Group 1: Financial Oversight and Regulation - The Ministry of Finance has intensified efforts to combat financial fraud and maintain a healthy market economy [1] - Over the past two years, the Ministry has conducted quality inspections on more than 4,600 accounting firms and nearly 1,500 asset appraisal institutions [1] - The government is actively promoting the improvement of laws and regulations related to accounting and certified public accountants to foster a market environment that values legal compliance and integrity [1]

Core Viewpoint - The Ministry of Finance emphasizes the importance of combating financial fraud to maintain a healthy, fair, and orderly market economy [1] Group 1: Regulatory Actions - The Ministry of Finance has strengthened supervision over accounting and asset evaluation industries [1] - Over the past two years, quality inspections have been conducted on more than 4,600 accounting firms and nearly 1,500 asset evaluation institutions [1] - Serious actions have been taken against financial fraud and accounting falsification [1]

Core Insights - The seminar on "AI-supported Asset Evaluation Practice" was successfully held in Beijing, focusing on the integration of AI and asset evaluation to promote digital and intelligent transformation in the evaluation field [1] Group 1: AI Impact and Recommendations - The impact of AI on the asset evaluation sector goes beyond mere tool updates, necessitating the establishment of a "data-driven, intelligent collaboration" ecosystem [2] - Recommendations include accelerating the establishment of standardized data governance systems, integrating business needs with technology development, and fostering cross-disciplinary talent [2] Group 2: AI as an Assistant - AI tools are seen as a means to optimize evaluation processes and enhance the quality and efficiency of evaluations, acting as a powerful "intelligent assistant" rather than replacing professional evaluators [3] - The core value of AI lies in empowering evaluators and institutions, enhancing operational efficiency and service precision, and revitalizing the industry in the digital economy [3] Group 3: Practical Applications and Challenges - Various experts shared insights on the practical applications and challenges of AI in the evaluation field during the guest speech segment [4] - Discussions included the direction, risks, and challenges of AI applications in asset evaluation during the roundtable session [4]

Core Viewpoint - The article discusses the recent regulatory actions taken by the Henan Provincial Asset Evaluation Association against an institution that allegedly engaged in unfair competition by bidding below the maximum procurement price by 45%, which is considered a violation of the "Implementation Opinions on Anti-Unfair Competition" [2][3]. Group 1: Regulatory Actions - The Henan Provincial Asset Evaluation Association issued a regulatory notice to the institution, emphasizing the need for risk identification and adherence to evaluation standards during project execution [2]. - This case marks the first public report of low-price bidding since the release of the "Implementation Opinions" in July 2023, aimed at protecting public interests and promoting fair competition in the asset evaluation industry [2][3]. Group 2: Implementation Opinions - The "Implementation Opinions" require evaluation institutions to supervise each other and resist unfair competition, fostering a fair competitive environment [3]. - Institutions can report suspected unfair competition to various regulatory bodies, providing evidence related to bidding prices, cost calculations, and historical fees [3]. Group 3: Related Notifications - The Interbank Market Dealers Association also issued a notification to combat "involution" in the bond market, emphasizing the need for reasonable cost calculations by lead underwriters [4]. - The notification encourages market participants to report violations related to underpricing and interference in underwriting fee quotes [4].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) imposed administrative penalties on WalkerSun (Beijing) International Asset Appraisal Co., Ltd. for failing to exercise due diligence in asset evaluation, resulting in misleading statements in their reports [2][4][9]. Group 1: Evaluation Process Issues - WalkerSun was commissioned by Beijing Jiecheng Century Technology Co., Ltd. to evaluate assets provided by a debtor, charging a total fee of 150,943.40 yuan [4]. - The evaluation report, issued on April 15, 2022, assessed six TV dramas and two scripts, with a total valuation of 127.3093 million yuan as of December 31, 2021 [4][5]. - The evaluation process lacked thorough verification of asset ownership, failing to support clear conclusions regarding asset rights [5][6]. Group 2: Misleading Statements - WalkerSun did not adequately verify the evaluation data, leading to errors in revenue predictions and cost assessments [6][8]. - The use of incorrect discount rate parameters and failure to consider specific risks associated with cultural enterprises were noted as significant flaws in the evaluation [7][8]. Group 3: Penalties Imposed - The CSRC ordered WalkerSun to rectify its practices, confiscated the business income of 150,943.40 yuan, and imposed a fine of 500,000 yuan [9][10]. - The two signing appraisers, Li Hui and He Congyang, received warnings and fines of 200,000 yuan each for their roles in the misleading evaluation [9].

Core Viewpoint - The importance of property valuation is increasingly highlighted in the context of rapid economic development, with the company providing efficient and accurate assessment services since its establishment in September 2014 [1] Group 1: Necessity of Property Valuation - Property valuation is essential for determining fair transaction prices, mitigating risks from information asymmetry, and providing strong price references in scenarios like mortgage loans and asset restructuring [2] - Property valuation plays a significant role in legal disputes and insurance claims [2] Group 2: Company's Valuation Services - The company offers various assessment services, including: - Property Valuation: Covering residential, commercial, and industrial properties using methods like market comparison, income, and cost approaches [2] - Land Valuation: Providing accurate assessments based on geographical location, usage, and market demand [2] - Expropriation Valuation: Assisting clients in evaluating the value of expropriated land and properties during urban planning and infrastructure projects [2] - Loss Valuation: Helping clients understand their losses in the event of natural disasters or other emergencies for subsequent claims [2] - Business Valuation: Offering assessments for mergers, acquisitions, and financing by analyzing financial status and market prospects [3] - Machinery and Equipment Valuation: Evaluating equipment based on usage, market demand, and technology levels [5] - Nursery and Flower Valuation: Addressing the growing demand for assessments in the horticulture industry [5] - Orchard Valuation: Considering land, tree species, and yield for comprehensive assessments [5] - Livestock Farm Valuation: Evaluating farms based on animal types, scale, and market conditions [5] - Intangible Asset Valuation: Providing assessments for intangible assets like patents and trademarks [5] - Rent Valuation: Helping landlords and tenants reach agreements on reasonable rental prices [5] Group 3: Assessment Process - The company follows a structured assessment process to ensure accuracy and objectivity, which includes: - Demand Analysis: Engaging with clients to understand their assessment needs and background information [7] - Data Collection: Conducting site inspections and gathering relevant market data and historical transaction information [7] - Data Analysis: Analyzing collected data and applying appropriate valuation methods to calculate asset value [7] - Report Writing: Compiling detailed assessment reports that include basis, methods, and final results [7] - Client Feedback: Communicating with clients post-report submission to gather feedback and address any questions [7] Group 4: Conclusion - The company is dedicated to providing professional online assessment consulting services, aiming to deliver accurate and reliable reports across various asset valuation fields [9]

Core Viewpoint - The China Asset Appraisal Association (CAAA) has released the "Implementation Opinions on Anti-Unfair Competition Behavior" to protect public interests and the legitimate rights of appraisal institutions, encourage fair competition, prevent "involution" competition, and promote high-quality development in the asset appraisal industry [1]. Summary by Sections Anti-Competition Standards - The "Implementation Opinions" define standards for low-price competition, stating that if an appraisal institution's bid is below 50% of the average bid of all compliant institutions, competitors can report this behavior [2][3]. Mutual Supervision - Appraisal institutions are encouraged to supervise each other to resist unfair competition and maintain a fair competitive environment. They can report suspected unfair competition to various authorities, including the CAAA and local associations, providing evidence for investigation [4]. Legal Recourse - Institutions that believe their rights have been harmed by unfair competition can file lawsuits in people's courts [5]. Evidence for Reporting - Institutions can provide evidence of low-cost bidding through various means, including bid prices, cost accounting, and historical charges. Specific thresholds for reporting include bids below 50% of the average bid and below 45% of the maximum project price [6][7]. Industry Self-Regulation - The CAAA and local associations are tasked with strengthening industry self-regulation, guiding appraisal institutions to compete legally, and establishing monitoring mechanisms for bidding behavior. They will focus on investigating reported unfair competition and may impose penalties for non-compliance [8]. Market Overview - As of June 2024, there are 272 securities appraisal institutions in China, a decrease of 9 from the previous year. The majority are located in major cities like Beijing, Shenzhen, and Shanghai, accounting for 61.8% of the total [9]. Workforce and Revenue - By the end of 2023, there were 9,282 asset appraisers, a 4.2% increase year-on-year. The total revenue for securities appraisal institutions reached 11.27 billion yuan, a 3.0% increase, with asset appraisal income making up 75.4% of total revenue [10][11]. Report Generation - In 2023, 213 securities appraisal institutions issued 12,069 asset appraisal reports, a 26.8% increase from the previous year, with 91.4% of these reports issued for listed companies [12]. Regulatory Updates - By the end of 2024, the Ministry of Finance and the China Securities Regulatory Commission will revise the "Filing Measures for Securities Service Business by Asset Appraisal Institutions," tightening filing requirements and enhancing ongoing supervision [13].

Group 1 - The provincial finance department has issued and publicized a checklist of administrative inspection items related to enterprises, emphasizing transparency and accountability in the use of power [1][2] - The checklist is based on the principle of "no inspection without basis" and covers six major areas, including government procurement supervision, accounting information quality supervision, and asset evaluation industry supervision [1] - The finance department will conduct inspections to ensure the fairness, transparency, and compliance of government procurement activities, as well as the authenticity and compliance of accounting practices [1][2] Group 2 - Inspections will also focus on the quality of practice, risk management, and internal controls of accounting firms and asset evaluation institutions to promote the rational allocation and effective utilization of state-owned assets [2] - The checklist aims to standardize the inspection management of the provincial finance department and guide the standardized construction of administrative inspections at all levels of finance departments in the province [2] - The finance department plans to comprehensively advance and strictly regulate administrative law enforcement related to enterprises, enhancing the level of law enforcement [2]

Group 1 - China International Capital Corporation (CICC) acts as the sponsor for HANSAN (Nanjing) Technology Co., Ltd.'s initial public offering (IPO) on the ChiNext board, committing to compensate investors for losses due to false statements or omissions in the documents it produces [1] - Beijing Junhe Law Firm serves as the special legal advisor for the issuer's IPO, promising to compensate investors for losses caused by false statements or omissions in the documents it issues, while accepting supervision from regulatory bodies and the public [2] - The auditing firm for HANSAN (Nanjing) Technology Co., Ltd. commits to compensate investors for losses resulting from false statements or omissions in the audit reports and related documents it produces for the IPO [3] Group 2 - The verification and review institution for HANSAN (Nanjing) Technology Co., Ltd. also commits to compensate investors for losses due to false statements or omissions in the verification reports and related documents it issues for the IPO [6] - Kun Yuan Asset Appraisal Co., Ltd. acts as the appraisal agency for the issuer's IPO, promising to compensate investors for losses resulting from false statements or omissions in the asset appraisal report it produces, contingent upon a judicial ruling [8]