Asset appraisal institutions and their asset appraisal professionals carry out the business of evaluating the investment value of enterprise mergers and acquisitions,

It shall comply with relevant Chinese laws, administrative regulations and asset evaluation standards。

What are the specific evaluation criteria？Let's see？

Article 8 Asset appraisal institutions and their asset appraisal professionals carry out the business of evaluating the value of M&A investment，You must not accept commissions from both parties to a conflict of interest，In addition to the provisions of relevant laws and administrative regulations, the state secrets, trade secrets and personal privacy that are known in the process of asset evaluation shall be kept confidential，It shall also keep confidential the investment value measurement results, evaluation conclusions and the related transaction price decision information，Without the consent of the client，No communication with any organization or individual。Except as otherwise provided by relevant laws and administrative regulations。

Article 9 Asset appraisal institutions and their asset appraisal professionals shall perform the business of evaluating the investment value of mergers and acquisitions of enterprises in a complete and complete manner.

Accurately grasp the client's intention of merger and acquisition, fully understand the client's merger and acquisition plan, pay attention to the client's integration consideration of the underlying assets,

Provide the client with an evaluation conclusion that is consistent with the merger proposal。

Article 10 Asset appraisal institutions and their professional assets appraisal personnel carry out the business of evaluating the value of M&A investment.

Use may be made of the due diligence reports of other professional advisers retained by the client and of the Client and their relevant conclusions。

When engaged in the appraisal business of the M&A party, it may use the third-party information or professional reports obtained by the asset appraisal agency or other valuation consultant hired by the M&A party.

However, the reasonableness of the professional judgment conclusions and relevant calculations of the data or professional reports shall be analyzed and judged。

The client has a reasonable and legitimate claim, which may be given due consideration。There are laws and regulations applicable to M&A projects, from which provisions。

Article 11 For the underlying assets that have multiple business types or multiple business models and involve multiple industries,

The business unit can be determined according to the enterprise merger and acquisition plan and payment method, and the appropriate caliber can be used for evaluation combined with the information collected。

Article 12 Where the client is able to provide the corresponding audit report, the asset appraisal professional shall:

(1) Based on officially issued audit reports;

(2) overseas underlying assets, audit reports in accordance with overseas accounting standards, conversion accounting statements and difference statements of Chinese and foreign accounting standards or other similar reports;

(3) Understand the relevant situation of the audit process, make reasonable use of the audit report, and communicate well with other relevant professional institutions under the coordination of the client。

Article 13 An asset appraisal institution and its asset appraisal professionals shall obtain the merger and acquisition plan or feasibility study report when conducting the business of evaluating the investment value of an enterprise's merger and acquisition.

Or similar reports whose main content is mergers and acquisitions of enterprises are used as the main basis for evaluation, and reasonable use of them to determine the relevant evaluation matters and evaluation parameters。

Article 14 Where the income and cost indicators used in the synergy effect analysis are provided by the client, the asset evaluation professionals shall have a complete understanding of the specific measures of merger and integration.

As well as the conditions and basis of the realization of synergy effect, the rationality of the relevant data is analyzed and judged。