1、 贤丰控股股 份有限公司拟进行股权转让所涉及的珠海蓉胜 超微线材有限公司股东 全部权益价值 资 产 评 估 报告 中林评字【2021】432 号（共 1 册，第 1 册）北京 中林资 产评估 有 限公司 BEIJING ZHONGLIN ASSETS APPRAISAL CO.,LTD.1.2.4 4.15.16.17.17.17.20.26.29.30.31.33.34.36 1 2 2021 432 2021 6 30 2021 6 30 56,911.98 3 1 2021 6 30 2022 6 29 4 2021 432 2021 6 30 1 002141.SZ 914400006
2、17503302A 113465.6519()2002 10 10 2002 10 10 5()2.002141 1985 2007 7 20 1 91440400MA4UKUJJ90 681 4 101 20595 2015 12 18 2015 12 18()6 2 1 2015 12 2015 12 15 1,000 2015 12 15 2015 12 18:1 1,000.00 100.00%1,000.00 100.00%2 2016 10 2016 10 17,000 9 16,991 18,000 2016 10 20 18,000 17,000 9 16,991 2016 1
3、1 3 2017 1 17 2017 2 15 7 1 18,000.00 100.00%18,000.00 100.00%3 2019 4 2019 2 25 3,000 1,300 1,124.5 175.50 1,700 1,470.5 229.50 20,595 2019 3 26 20,595 2,595 1,124.50 1470.50 1 18,000.00 87.40%2 1,124.50 5.46%3 1,470.50 7.14%20,595.00 100.00%1 18,000.00 87.40%2 1,124.50 5.46%3 1,470.50 7.14%20,595.
4、00 100.00%3.8 4.%72.00 681 4 105 100.00 638 75.00 100.00 681 4 103 100.00 58 A1-1281 80.00 8 6 70.00 681 4 108 62.50 799 2 05 14 70.00 8 9 B 100.00 5 1 9 2 3 10 4 5%1 2015/11/9 50 49.00%91620400MA72DBWJ15 512 6000 2015 11 24 2015 11 24 6 11 60 1 2019 8 2 ZL201710140559.8 2 2018 12 19 ZL201820176309.
5、X 3 UV-LED 2021 3 19 ZL201721341556.2 4 2019 7 9 ZL201721374422.0 5 2019 7 9 ZL201721051432.0 6 2019 8 27 ZL201720226153.7 7 2020 1 14 ZL201720230217.0 8 2020 7 24 ZL201720232832.5 9 2021 3 23 ZL201720233395.9 10 2019 10 18 ZL201720232817.0 11 2020 5 19 ZL201720230218.5 12 2019 12 24 ZL201720230219.
6、X 13 2020 2 18 ZL201210199983.7 14 2020 5 19 ZL201110173961.9 15 2020 1 14 ZL201110025076.6 16 2020 4 17 ZL201010245511.1 17 2021 2 2 ZL201010245514.5 18 0.10mm 2021 4 2 ZL200910157511.3 19 2021 4 2 ZL201520754992.7 20 2021 4 2 ZL201520754624.2 21 2021 4 2 ZL201520759838.9 22 2021 3 19 ZL20152075827
7、1.3 23 2019 1 22 ZL201520206246.4 24 2018 11 6 ZL201420299232.7 25 2018 8 7 ZL201420285753.7 26 2018 6 5 ZL201420285768.3 27 2018 4 6 ZL201320558431.0 28 2017 12 5 ZL201821397552.0 29 2017 12 5 ZL201920162759.8 30 2017 10 20 ZL201920162812.4 31 2017 10 13 ZL201920172669.7 32 2017 10 13 ZL20192016272
8、0.6 33 2017 10 13 ZL201920162811.X 34 2017 10 13 ZL201920162793.5 35 2016 5 18 ZL201910086695.2 12 36 2015 6 17 ZL201910292986.7 37 2014 10 29 ZL202021319085.7 38 2020 4 17 ZL202010303468.3 39 2012 12 26 ZL201820863890.2 40 2012 12 26 ZL201822143031.9 41 2016 1 27 ZL201811557037.9 42 2016 1 27 ZL201
9、822167881.2 43 2016 1 27 ZL201822167849.4 44 2016 1 27 ZL201822178743.4 45 2015 9 23 ZL201920606406.2 46 2014 12 24 ZL201920605787.2 47 2014 11 19 ZL202022009191.1 48 2014 5 30 ZL201920562647.1 49 2014 5 7 ZL201920562632.5 50-2019 4 5 ZL201920553831.X 51 2019 12 27 ZL201920810226.6 52 2019 12 27 ZL2
10、01921107314.6 53 2019 12 10 ZL201920818217.1 54 2019 12 27 ZL201921001533.6 55 2019 12 27 ZL201910606073.8 56 2019 12 27 ZL202021584830.0 57 2020 10 23 ZL202021638614.X 58 2020 6 12 ZL202021638623.9 59 2021 1 15 ZL202021638589.5 60 2020 4 17 ZL202021868554.0 5/1 4247839 2007 05 07 2017 05 06 9 2027
11、05 06 13/2 282138 1987 3 30 1997 3 29 9 2027 3 29 3 1029953 1997 6 14 2007 6 13 9 2027 6 13 4 1102619 2011 12 06 2021 12 06 9 2021 12 6 5 3646440 2015 02 21 2025 02 20 9 2025 02 20 6 2019 12 31 2020 12 31 2021 6 30 39,920.90 46,197.43 49,104.17 17,833.87 18,455.87 18,969.56 2,278.49 2,097.73 2,262.4
12、1 11,116.45 11,013.30 10,990.12-912.62 1,719.21 2,289.69 1,880.80 507.18 419.26 376.65 551.89 815.15 842.04 835.35 602.44 539.78 607.11 1,216.39 1,081.23 218.19 1.91 83.91 57,754.76 64,653.30 68,073.73 27,417.38 37,470.39 37,612.24 1,260.38 2,232.75 2,626.65 28,677.76 39,703.13 40,238.89 29,077.01 2
13、4,950.17 27,834.84 2,304.68 1,828.91 1,911.12 26,772.33 23,121.26 25,923.72 14 2019 2020 2021 1 6 38,761.34 43,603.62 46,017.46 20,571.53 24,165.77 23,476.70 8,652.67 12,780.73 12,780.73 9,258.75 8,592.27 8,260.58 624.02 1,068.34 914.52 493.58 412.57 373.41 1,341.40 528.28 459.13 201.11 782.00 630.9
14、1 0.00 1.58 57.42 59,332.87 67,769.39 69,494.16 30,228.17 40,603.80 40,066.39 1,258.38 2,100.84 1,964.23 31,486.55 42,704.63 42,030.62 27,846.32 25,064.76 27,463.54 2019 2020 2021 1 6 94,923.39 96,315.75 69,917.35 92,176.57 93,285.71 67,837.71 2,746.82 3,030.04 2,079.65 83,957.43 89,535.84 62,401.38
15、 297.34 215.92 139.13 2,604.35 1,603.00 791.77 2,601.22 3,152.23 1,462.52 3,052.12 3,554.75 2,009.58 1,293.43 1,414.93 914.79 1,013.46 808.74 617.51 12.30 5.82 2.66 1,184.34 662.65 672.56-268.75-180.76 164.67 4.36-0.09 165.59-642.89 2.42 33.54-555.69(139.55)-3.63 1.84 86.11 2,232.96-3,875.76 2,984.4
16、9 2,237.01-3,961.71 2,987.00-324.07-89.88 102.32 2,561.09-3,871.83 2,884.67 15 2019 2020 2021 1 6 92,286.27 97,162.64 69,163.38 82,393.67 91,107.62 62,423.57 258.84 188.31 103.03 2,231.65 1,429.07 638.69 1,856.25 2,141.24 1,063.83 2,899.08 3,043.79 1,749.91 1,265.20 1,381.79 845.88 985.68 780.88 549
17、.30 10.89 4.23 1.95 1,059.66 437.88 289.95 363.50 0.00-4.36-0.09 180.79-642.86 23.98 27.72-475.79-142.68-3.63 1.94-3,013.98-2,808.01 2,509.81 2,980.60-2,893.83 2,512.44-271.95-112.27 113.66 3,252.56-2,781.56 2,398.78 2019 2020 2021 1-6 2021 65000115 6.16 69,494.16 42,030.62 27,463.54 46,017.46 23,47
18、6.70 12,780.73 8,260.58 914.52 373.41 459.13 630.91 57.42 69,494.16 40,066.39 1,964.23 42,030.62 27,463.54 2021 65000115 17 2021 6 30 1.100%18 1.2016 7 2 2016 12 1 2.2018 10 26 3.4.2008 1 1 5.538 6.2008 12 18 50 2011 10 28 65 7.(2019 12 28 2020 3 1)8.2021 1 1 9.2014 109 2016 10.2016 47 11.1.201743 2
19、.201730 3.2019 35 4.2018 35 5.2018 36 6.201733 7.2018 37 8.2018 38 9.2017 37 10.201739 19 11.2017 38 12.201735 13.8 2019 39;14.2020 2020 31 15.1 16.12 202038 17.201746 18.201747 19.201748 20.(GB/T50291-2015)2015 12 1 21.GB/T50899-2013 22.1.2.3.4.1.2.2021 3.4.5.6.20 7.21 1 1 2 3 4 5 22 6 2 1=1 2008 1
20、70 2009 1 1 538 50 2019 39=-23=1=2=-/2=-=-/3 24=+-=10%=*13%/1+13%500(1/10 10 30 15 25 10 100 3=2=-/2 2021 6 20 25 LPR 1 3.85%3 1.2 niiirK RP1)1(P K Ri i n 26 r 4 5 6 7 3 27 1 E V D V P 1C 2C E E V D P 1C 2C E P nnntttrg rRr R P 1 111 tR t t 1,2,3 n r 1 n R g g=0 n 2 28 1+1-T 2 2021 7 1 2025 12 31 20
21、26 1 1 3 WACC 4 5()29 1 30 2 3 4 1.2.3.4.5.6.7.8.9.10.31 1 201832 2018 5 1 17%11%16%10%2019 39 2019 4 1 16%13%10%9%13%2 3 4 5 6 2022 12 31 11.69,494.16 74,985.30 5,491.14 7.90%42,030.62 40,956.10-1,074.52-2.56%27,463.54 34,029.20 6,565.66 23.91%32 A B C=B-A 1 46,017.46 47,114.03 1,096.57 2.38 2 23,4
22、76.70 27,871.27 4,394.57 18.72 3 12,780.73 11,855.14-925.59-7.24 4-5 8,260.58 9,725.51 1,464.93 17.73 6 914.52 930.44 15.92 1.74 7 373.41 4,244.28 3,870.87 1,036.63 8-9 1,147.46 1,115.90-31.56-2.75 10 69,494.16 74,985.30 5,491.14 7.90 11 40,066.39 40,066.39-12 1,964.23 889.71-1,074.52-54.70 13 42,030.62 40,956.10-1,074.52-2.56 14 27,463.54 34,029.20 6,565.66 23.91 56,911.98 22,882.78 40.21%1.33 2.3.56,911.98 2022 6 29 34 2021 6 30 2022 6 29 2021 11 22 35 36
