Summary of Key Points Core Viewpoint - Tianrun Industrial Technology Co., Ltd. is planning to acquire the entire equity of Shandong Altai Auto Parts Co., Ltd., and an asset valuation report has been prepared to provide a value reference for this acquisition [6][8]. Group 1: Valuation Overview - The valuation was conducted by Beijing Zhongtianhua Asset Appraisal Co., Ltd. based on the market value of the entire equity of Shandong Altai Auto Parts Co., Ltd. as of March 31, 2025 [6][8]. - The total asset book value of Shandong Altai Auto Parts Co., Ltd. is assessed at 631.0554 million RMB, with an increase of 118.2526 million RMB, resulting in a growth rate of 23.06% [7]. - The total liability valuation is 495.7601 million RMB, leading to a net asset valuation of 135.2953 million RMB, with an increase of 118.2526 million RMB, resulting in a growth rate of 693.86% [7]. Group 2: Financial Data - As of December 31, 2024, the total assets were 499.9458 million RMB, and by March 31, 2025, they increased to 512.8028 million RMB [12]. - The total liabilities increased from 478.9254 million RMB to 495.7601 million RMB during the same period [12]. - The net assets decreased from 21.0204 million RMB to 17.0427 million RMB, indicating a decline in financial health [12][13]. Group 3: Company Background - Shandong Altai Auto Parts Co., Ltd. was established in June 2013 with an initial registered capital of 8 million USD [9]. - The company specializes in the design, development, production, and sales of automotive parts, including crankshafts and machine tools [9]. - The ownership structure has undergone several changes, with the current major shareholder being Jiangsu Dongxi Engine Parts Co., Ltd., holding 74.42% of the equity [11][12].