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Miracle Pharmaceuticals: Binzhou Pharmacy Goodwill Assessment Report

Shanghai Stock Exchange

2026/04/29

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Directory

Statement......................................................................................................................................................1Abstract......................................................................................................................................2Asset Valuation Report.................................................................................................................................3

Overview of the client, property rights holder and other users of the asset appraisal report as stipulated in the asset appraisal entrustment contract......................................................................................................................................................3
Purpose of Assessment................................................................................................................22
Assessment objects and assessment scope................................................................................22
Value types................................................................................................................................23
Evaluation base date................................................................................................................23
Basis for evaluation......................................................................................................................23
Evaluation method......................................................................................................................25
Implementation Process and Situation of Assessment Procedures......................................................................27
Evaluation Assumptions................................................................................................................29
Evaluation Conclusion......................................................................................................................30
Notes on special matters................................................................................................30
Restrictions on the use of asset appraisal reports......................................................................31
Asset Valuation Report Date......................................................................................32 List of Attachments to the Asset Valuation Report......................................................................................................34

Website: http://www.caa—bj.com.cn Tel: 010—88395166 Fax: 010—88395661 Postcode 100044 Address: 13th Floor, Building B1, Building 5, No. 9, Chegongzhuang Street, Xicheng District, Beijing Email: [email protected]

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Statement

This asset appraisal report is prepared based on the basic standards for asset appraisal issued by the Ministry of Finance and the asset appraisal practice standards and professional ethics standards issued by the China Asset Appraisal Association.
The client or other user of the asset appraisal report shall use the asset appraisal report in accordance with the provisions of laws, administrative regulations and the scope of use stated in this asset appraisal report; if the client or other user of the asset appraisal report uses the asset appraisal report in violation of the foregoing provisions, the asset appraisal agency and the asset appraiser shall not be held responsible.

This asset appraisal report can only be used by the client, other asset appraisal report users stipulated in the asset appraisal entrustment contract, and asset appraisal report users specified by laws and administrative regulations; except for this, no other institution or individual can become the user of the asset appraisal report.

This asset appraisal agency and asset appraisers remind users of asset appraisal reports that they should correctly understand and use the appraisal conclusions. The appraisal conclusions are not equivalent to the achievable price of the appraisal object, and the appraisal conclusions should not be considered as a guarantee of the achievable price of the appraisal object.

This asset appraisal agency and asset appraisers abide by laws, administrative regulations and asset appraisal standards, adhere to the principles of independence, objectivity and impartiality, and assume responsibility for the asset appraisal reports issued in accordance with the law.
The list of assets involved in the evaluation object shall be declared by the client and the property rights holder and confirmed by their signature, seal or other methods permitted by law; the client and other relevant parties shall be responsible for the authenticity, completeness and legality of the information provided by them in accordance with the law.
The asset appraisal agency and the asset appraiser have no existing or expected interest relationship with the appraisal object in the asset appraisal report; they have no existing or expected interest relationship with the relevant parties, and they have no bias against the relevant parties.
The asset appraiser has conducted an on-site investigation of the appraisal object and the assets involved in the asset appraisal report; has paid necessary attention to the legal ownership status of the appraisal object and the assets involved, checked the legal ownership information of the appraisal object and the assets involved, truthfully disclosed the problems that have been discovered, and has requested the client and other relevant parties to improve the property rights to meet the requirements for issuing an asset appraisal report.
The analysis, judgment and results in the asset valuation report issued by this asset valuation agency are subject to the assumptions and restrictions in the asset valuation report. Users of the asset valuation report should fully consider the assumptions, restrictions, special matters stated in the asset valuation report and their impact on the valuation conclusion.

Website: http://www.caa—bj.com.cn Tel: 010—88395166 Fax: 010—88395661 Postcode: 100044 Address: 13th Floor, Building B1, Building 5, No. 9 Chegongzhuang Street, Xicheng District, Beijing Email: [email protected] 1

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Binzhou Magic Pharmacy Co., Ltd. for financial reporting purposes

Binzhou Magic Pharmacy Co., Ltd. involved in the proposed goodwill impairment test

Recoverable amount of asset group portfolio

Asset appraisal report

Abstract

Zhongtian Huazi Review [2026] No. 10642

Beijing Zhongtianhua Asset Appraisal Co., Ltd. accepted the entrustment of Guizhou Jinqiao Pharmaceutical Co., Ltd. to evaluate the recoverable amount of the asset group portfolio containing goodwill of Binzhou Magic Pharmacy Co., Ltd., providing a value reference basis for Binzhou Magic Pharmacy Co., Ltd.’s proposed goodwill impairment test for the purpose of financial reporting.

According to the purpose of the evaluation, the object of this evaluation is the recoverable amount of the asset group portfolio containing goodwill of Binzhou Magic Pharmacy Co., Ltd., and the scope of the assessment is the goodwill and goodwill-related asset group portfolio of Binzhou Magic Pharmacy Co., Ltd. The specific assessment scope is based on the asset assessment declaration form provided by Binzhou Magic Pharmacy Co., Ltd.

The evaluation base date is December 31, 2025.

The value type of this evaluation is recoverable amount.

This evaluation is based on the premise of continuous use and the open market, combined with the actual situation of the evaluation object, comprehensive consideration of various influencing factors, and the present value of the expected future cash flows to evaluate the recoverable amount of the asset group portfolio containing goodwill of Binzhou Magic Pharmacy Co., Ltd., and use this to determine the evaluation conclusion.

Based on the above evaluation work, and provided that the evaluation premise and assumptions are fully realized, the following evaluation conclusions are drawn:

On December 31, 2025, the base date of evaluation, under the assumptions and limiting conditions listed in this report, the book value of Binzhou Magic's asset group portfolio including goodwill is 52.486 million yuan, and the recoverable amount after assessment using the present value of expected future cash flows is 60.76 million yuan (in capital letters: RMB 6,007, 60,000 yuan).

When using this assessment conclusion, users of the report are particularly reminded to pay attention to the special matters stated in the report as well as subsequent major events when using this report.

The assessment conclusion of this report is valid within one year from the assessment base date, that is, until December 30, 2026. If it exceeds one year, it needs to be re-evaluated.

The above content is excerpted from the text of the asset valuation report. If you want to know the details of this valuation business and correctly understand the valuation conclusion, you should read the text of the asset valuation report.

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Binzhou Magic Pharmacy Co., Ltd.

Proposed goodwill impairment testing for financial reporting purposes

The recoverable amount of the asset group portfolio of Binzhou Magic Pharmacy Co., Ltd. involved

Asset appraisal report

Zhongtian Huazi Review [2026] No. 10642

Guizhou Jinqiao Pharmaceutical Co., Ltd.:

Beijing Zhongtianhua Asset Appraisal Co., Ltd. accepted the entrustment of Guizhou Jinqiao Pharmaceutical Co., Ltd., complied with the laws, administrative regulations and asset appraisal standards, performed the necessary asset appraisal procedures according to the entrustment, and used the evaluation method of the present value of the expected future cash flows to evaluate the recoverable amount of Binzhou Magic Pharmacy Co., Ltd.'s asset group portfolio containing goodwill on December 31, 2025, which Binzhou Magic Pharmacy Co., Ltd. intends to carry out goodwill impairment testing for the purpose of financial reporting.

The asset assessment status is now reported as follows:

Overview of the client, property rights holder and other users of asset appraisal reports as stipulated in the asset appraisal entrustment contract

The client of this project is Guizhou Jinqiao Pharmaceutical Co., Ltd., and the property rights holder is Binzhou Magic Pharmacy Co., Ltd. Users of asset appraisal reports include the client, other users of asset appraisal reports stipulated in the asset appraisal entrustment contract, and users of asset appraisal reports stipulated in national laws and regulations. In addition to the above, any third party who receives the report shall not be regarded as the user of the asset appraisal report, and the asset appraisal agency and asset appraiser shall not bear any responsibility for the losses caused by such third parties due to the misuse of the asset appraisal report.

(1) Overview of the client

Company name: Guizhou Jinqiao Pharmaceutical Co., Ltd. (hereinafter referred to as: "Jinqiao Pharmaceutical" or "the client")
Unified social credit code: 91520100745727642R
Type: Limited liability company (foreign-invested enterprise and domestic joint venture)
Address: No. 179, Chuang North Road, Shawen Ecological Science and Technology Industrial Park, Guiyang National High-tech Industrial Development Zone, Guiyang City, Guizhou Province
Legal representative: Zhang Zheng
Registered capital: RMB 13,785,396
Date of establishment: March 25, 2003
Operation period: March 25, 2003 to no fixed period
Business scope: No operations are permitted if prohibited by laws, regulations, and State Council decisions; if laws, regulations, and State Council decisions stipulate that permission (examination and approval) is required, the business shall be operated with the permission (approval) document after being approved by the examination and approval authority; if laws, regulations, and State Council decisions stipulate that no license (examination and approval) is required, market entities shall choose to operate independently. (Licensed business items: Production: large-volume injections, small-volume injections (including anti-tumor products); tinctures, lotions, suppositories, patches, powders, ointments (including hormones) (including Chinese medicine extraction), creams (including hormones). (In branch website: http://www.caa-bj.com.cn Tel: 010-88395166 Fax: 010-88395661 Postcode: 100044 Address: Floor 13, Building B1, Building 5, No. 9 Chegongzhuang Street, Xicheng District, Beijing Email: [email protected] 3

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report Branch Operations) General Operating Items: (None). )

(2) Overview of property rights holding units

Company name: Binzhou Magic Pharmacy Co., Ltd. (hereinafter referred to as: "Binzhou Magic" or "property holding unit") 2. Unified social credit code: 91371602MA3CJQ438W
Type: Limited liability company (natural person investment or holding)
Address: Floor 2-3, No. 103, Building 7, Wanxin Times New City, No. 636, Huanghe 2nd Road, Shixi Street, Bincheng District, Binzhou City, Shandong Province
National standard industry: Western medicine retail
Legal representative: Wang Pengfei
Registered capital: 25 million RMB
Date of establishment: October 17, 2016
Operation period: October 17, 2016 to no fixed period
Business scope: Licensed items: drug retail; third-class medical device operation; food sales; food Internet sales; medical device Internet information services; clinic services; pesticide retail; and drug Internet information services. (Items that require approval according to law can only be carried out with the approval of the relevant departments. Specific business items are subject to the approval documents or licenses of the relevant departments.) General items: sales of health food (prepackaged); sales of infant formula milk powder and other infant formula foods; sales of second-class medical devices; traditional Chinese medicine clinic services (must be registered with the competent department of traditional Chinese medicine before engaging in business activities); Internet sales (except for businesses that require a license) products); sales of sanitary products and disposable medical supplies; sales of daily necessities; corporate headquarters management; conference and exhibition services; advertising production; advertising release; sales of disinfectants (excluding hazardous chemicals); health consulting services (excluding diagnosis and treatment services); labor services (excluding labor dispatch); non-residential real estate leasing; traditional Chinese medicine health care services (non-medical); sales of first-class medical equipment; retail of cosmetics; sales of agricultural and sideline products. (Except for projects that require approval according to law, business activities can be carried out independently with a business license and in accordance with the law)
History

Binzhou Miraculous was established in October 2016 with a registered capital of 24 million yuan. It was jointly funded by Shandong Miraculous Pharmaceutical Co., Ltd. (hereinafter referred to as "Shandong Miraculous") and Li Peikai, of which Shandong Miraculous subscribed for 19.2 million yuan, accounting for 80%; Li Peikai recognized The capital contribution was 4.8 million yuan, accounting for 20%; in November 2016, Shandong Miracle invested 15 million yuan; the investment behavior has been verified by Shandong Jianxin Accounting Firm Co., Ltd., and a capital verification report numbered Lu Jianxin Yanzi (2016) No. 15 was issued.

On December 14, 2016, Li Peikai invested 4.8 million yuan; this investment has been verified by Binzhou Xintian United Accounting Firm, and a capital verification report numbered Binxinhuiyanzi [2016] No. 2-048 was issued.

On December 22, 2016, Shandong Qi Qi invested 4.2 million yuan. This investment has been verified by Binzhou Xintian United Accounting Firm, and a capital verification report numbered Binxinhuiyanzi [2016] No. 2-056 was issued.

In 2017, Li Peikai transferred 1.2 million shares of Binzhou Magic to Wen Jing (without obtaining an equity transfer agreement).

In May 2017, according to the company's articles of association and the resolution of the shareholders' meeting, Binzhou Magic increased its capital to 25 million yuan, of which Shandong Magic increased its capital by 800,000 yuan, with a capital contribution of 20 million yuan, accounting for 80%; Li Peikai increased its capital by 200,000 yuan, with a capital contribution of 3.8 million yuan.

Website: http://www.caa—bj.com.cn Tel: 010-88395166 Fax: 010-88395661 Postcode: 100044 Address: 13th Floor, Building B1, Building 5, No. 9 Chegongzhuang Street, Xicheng District, Beijing Email: [email protected] 4

The asset assessment report of the recoverable amount of Binzhou Magic Pharmacy Co., Ltd.'s asset group portfolio accounts for 15%. This investment has been verified by Binzhou Xintian United Accounting Firm and issued a capital verification report numbered Binxinhuiyanzi [2017] No. 2-027.

In March 2022, according to the company's articles of association and the resolution of the shareholders' meeting, shareholders Li Peikai and Wen Jing were changed to Binzhou Kaijun Enterprise Management Co., Ltd.

As of the valuation base date, the equity structure of Binzhou Magic Pharmacy is as follows:

Name of shareholder Registered capital (10,000 yuan) Equity ratio (%) Paid-in capital (10,000 yuan)

Shandong Miracle Pharmaceutical Co., Ltd. 2,000.00 80.00 2,000.00Binzhou Kaijun Enterprise Management Co., Ltd. 500.00 20.00 500.00

Total 2,500.00 100.00 2,500.00

Organizational structure

Binzhou Magic has a chairman, general manager, finance department, purchasing department, human resources department, store department, etc. See the figure below for details:

Basic information of the company

Binzhou Magic operates a chain pharmacy chain that retails pharmaceutical products. It passed Shandong Province GSP certification on May 26, 2017, and quickly occupied the Binzhou market through the acquisition of chain pharmacies such as Jiahe, Jinfang, and Shengjitang. The company currently has 122 chain pharmacies, and its marketing network is mainly concentrated in the core business district of Binzhou City, large communities in development zones, and communities or business districts in some towns outside the city. Mainly distributed in: Bincheng District (90), Development Zone (19), High-tech Zone (2), Wudi County (10), Boxing County (1). The product categories operated by the store mainly include chemical medicines, traditional Chinese medicines, biological preparations and family planning supplies. The company adheres to the business strategy of direct-operated chain stores as the core and deeply explores the Binzhou market. The controlling shareholder of Binzhou Magic is Shandong Magic, and Shandong Magic is a subsidiary of Magic Investment. Magic has certain brand advantages and financial advantages. Currently, Shandong Qi Qi sells and distributes drugs to Binzhou Qi Qi; at the same time, Zibo Fushengkang Trading Co., Ltd. provides non-pharmaceutical supplies to Binzhou Qi Qi.

Company business qualification certificate

(1) Binzhou Magic Business Qualification Certificate

Serial number Qualification name Certificate number Validity period until the issuing authority

1 Drug Business License Lu BA5430061 December 13, 2026 Binzhou Food and Drug Administration Website: http://www.caa—bj.com.cn Tel: 010—88395166 Fax: 010—88395661 Postcode: 100044 Address: 13th Floor, Building B1, Building 5, No. 9, Chegongzhuang Street, Xicheng District, Beijing Email: [email protected] 5

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report Serial Number Qualification Name Certificate Number Validity Period to Issuing Authority

2 Food Business License JY13716020014906 March 3, 2027 Binzhou City Food and Drug Administration Class II Medical Device Management Bureau Lubin Food and Drug Administration Equipment Business License

3 No fixed period Binzhou Food and Drug Administration Business Registration Certificate No. 20170008

(2) Business qualifications and licenses obtained by each chain pharmacy actually operated by the company

Medical serial number Branch name Certificate name Certificate number Validity period Issuing authority

protect

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431249 2026.12.23 Yes

batch service bureau

1 Hualian Store Medical Food Business License JY13716020015819 2027.03.10 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431250 2026.12.23 Yes

batch service bureau

2 Didu Store Medical Food Business License JY13716020014867 2027.02.20 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431248 2026.12.23 Yes

batch service bureau

3 Wanfudian Medical Food Business License JY13716020014615 2027.02.20 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Kangjia Market Drug Business License Lu CB5431255 2027.01.04 Approval Service Bureau There are 4 medical stores Food Business License JY137160200155423 2027.03.01 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Pharmaceutical Business License Lu CB543I020 2029.01.08 Youfengze Yujing Market Supervision and Administration Bureau

5 Yinanmen Food Business License JY13716280045326 2029.01.23 Binzhou Economic and Technological Development Zone Insurance Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431257 2027.01.04 Yes

batch service bureau

6 Wanshou Store Medical Food Business License JY13716020014623 2027.02.20 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB5431252 2027.01.04 Youqingyi Market Batch Service Bureau

7 Medical Store Food Business License JY13716020015894 2027.02.23 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Drug Business License Lu CB5431273 2027.01.05 Haitong Times Market Supervision Administration

8 Yihuayuan Store Food Business License JY13716280003422 2027.02.16 Binzhou Economic and Technological Development Zone Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB5431272 2027.01.04 Youwutong 5th Road Batch Service Bureau

9 Medical Store Food Business License JY13716020014800 2027.02.08 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB5431271 2027.01.04 Batch Service Bureau has 10 Xuanjiadian Medical Food Business License JY13716020015860 2027.02.23 Binzhou City Bincheng District Administrative Review Guarantee

batch service bureau

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Medical serial number Branch name Certificate name Certificate number Validity period Issuing authority

protect

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431266 2027.01.04 Yes

batch service bureau

11 Weijiadian Medical Food Business License JY13716020015458 2027.03.01 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB5431268 2027.01.04 Youfenghuang Road Batch Service Bureau

12 Medical Store Food Business License JY13716020014795 2027.02.10 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB5431259 2027.01.04 Batch Service Bureau There are 13 East Street stores Medical Food Business License JY13716020016660 2027.03.06 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB5431261 2027.01.04 Yousanhehu China Batch Service Bureau

14 Yixindian Food Business License JY13716020015835 2027.03.10 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Administrative Approval Services

Drug Business License Lu CB5431276 2027.01.05 Bureau High-tech Development Division

Youlongxi Garden Bureau

15 Medical Stores Binzhou City Administrative Approval Services

Guaranteed Food Business License JY13716290001481 2027.01.11 Bureau High-tech Development Division

bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431267 2027.01.04 Yes

batch service bureau

16 Zhangkejiadian Medical Food Business License JY13716020019445 2027.06.16 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431254 2027.01.04 Yes

batch service bureau

17 Qingyi Beidian Medical Food Business License JY13716020015798 2027.02.23 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB5431278 2027.01.04 Batch Service Bureau There are 18 Liangcaidian Medical Food Business License JY13716020016459 2027.02.23 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB5431253 2027.01.04 Youhua Tianbin China Batch Service Bureau

19 Yijiayuan Store Food Business License JY13716020015992 2027.02.23 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431270 2027.01.04 Yes

batch service bureau

20 Rongkang Store Medical Food Business License JY13716020015984 2027.03.11 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB5431280 2027.01.04 You People’s Hospital Batch Service Bureau

21 Yinanmen Food Business License JY13716020092450 2029.08.07 Binzhou City Bincheng District Administrative Review and Protection

batch service bureau

Xiangrujiayuan Binzhou City Bincheng District Administrative Review There are 22 drug business licenses Lu CB5431279 2027.01.04

Store Service Bureau Website: http://www.caa—bj.com.cn Tel: 010-88395166 Fax: 010-88395661 Postcode: 100044 Address: 13th Floor, Building B1, Building 5, No. 9 Chegongzhuang Street, Xicheng District, Beijing Email: [email protected] 7

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Medical serial number Branch name Certificate name Certificate number Validity period Issuing authority

Bao Binzhou City Bincheng District Administrative Review Bao Food Business License JY13716020015771 2027.02.23

batch service bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431256 2027.01.04 Yes

Tiancheng Garden Batch Service Bureau

23 Medical Store Food Business License JY13716020019453 2027.05.12 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431265 2027.01.04 Yes

Binyi South Gate Batch Service Bureau

24 Medical Store Food Business License JY13716020015466 2027.03.03 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431258 2027.01.04 Yes

batch service bureau

25 Wankangdian Medical Food Business License JY13716020214721 2029.04.18 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431264 2027.01.04 Yes

Shanliu Liushe Batch Service Bureau

26 Medical District Store Food Business License JY13716020019470 2027.05.12 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Wutong 4th Road Drug Business License Lu CB5431263 2027.01.04 Approval Service Bureau There are 27 medical stores Food Business License JY13716020016651 2027.02.22 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431291 2027.03.21 Yes

Binyi Ximen Batch Service Bureau

28 Medical Store Food Business License JY13716020017931 2027.04.18 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431309 2027.04.19 Yes

Scholarly Famous Residence Batch Service Bureau

29 Medical Store Food Business License JY13716020022205 2027.06.23 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Drug business license Lu CB5431334 2027.05.25 Yes

Market Supervision Administration

30 Dazhang Guandian Medical Food Business License JY13716280006553 2027.07.31 Binzhou Economic and Technological Development Zone Insurance Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431322 2027.05.15 Yes

Meigui Jiayuan Batch Service Bureau

31 Medical Store Food Business License JY13716020024813 2027.06.26 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431353 2027.06.28 Yes

Beiyang Xinyuan Batch Service Bureau

32 Medical Store Food Business License JY13716020028069 2027.08.09 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Julong Garden Pharmaceutical Business License Lu CB5431308 2027.04.01 Market Supervision Administration There are 33 medical stores Food Business License JY13716280004865 2027.06.01 Binzhou Economic and Technological Development Zone Bao

Market Supervision Administration

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Medical serial number Branch name Certificate name Certificate number Validity period Issuing authority

protect

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB5431333 2027.05.23 Youxinguang Community Batch Service Bureau

34 Medical Store Food Business License JY13716020024821 2027.06.26 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB5431330 2027.05.23 Youguanhu Garden Batch Service Bureau

35 Medical Store Food Business License JY13716020027871 2027.07.06 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Tomorrow Star City Pharmaceutical Business License Lu CB5431349 2027.06.28 Market Supervision and Administration Bureau There are 36 medical stores Food Business License JY13716280006561 2027.07.31 Binzhou Economic and Technological Development Zone Market Supervision and Administration Bureau

Binzhou Economic and Technological Development Zone

Drug Business License Lu CB5431351 2027.06.28 Youlize Center Market Supervision and Administration Bureau

37 Medical Store Food Business License JY13716280007136 2027.09.26 Binzhou Economic and Technological Development Zone Insurance Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431292 2027.03.31 Yes

batch service bureau

38 Jinfangdian Medical Food Business License JY13716020023925 2027.06.06 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Pharmaceutical Business License Lu CB5431293 2027.04.01 Youshui'an Huating Market Supervision and Administration Bureau

39 Medical Store Food Business License JY13716280006570 2027.07.31 Binzhou Economic and Technological Development Zone Insurance Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431294 2027.03.31 Yes

batch service bureau

40 Lijing Store Medical Food Business License JY13716020021831 2027.05.17 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431295 2027.03.31 Yes

batch service bureau

41 Chunhui Store Medical Food Business License JY13716020023423 2027.08.03 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB5431296 2027.03.31 Approval Service Bureau There are 42 Haihe stores Medical Food Business License JY13716020021823 2027.05.17 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB5431297 2027.03.31 Youliangcai Commerce and Trade Batch Service Bureau

43 Yicheng Store Food Business License JY13716020023361 2027.05.22 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB5431298 2027.03.31 Youbin Chengxi Li Batch Service Bureau

44 Medical Store Food Business License JY13716020023345 2027.05.23 Binzhou City Bincheng District Administrative Review and Protection

batch service bureau

Pastoral Idyll Binzhou City Bincheng District Administrative Review 45 Drug Business License Lu CB5431299 2027.03.31

Store batch service bureau medical

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Medical serial number Branch name Certificate name Certificate number Validity period Issuing authority

protect

Binzhou City Bincheng District Administrative Review Food Business License JY13716020021788 2027.08.07

batch service bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431300 2027.03.31 Yes

batch service bureau

46 Qinhuangtai Store Medical Food Business License JY13716020066747 2028.07.30 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB5431301 2027.03.31 Taishan Ming County Batch Service Bureau

47 Medical Store Food Business License JY13716020023353 2027.05.23 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB5431302 2027.03.31 Youjitai Sunshine Batch Service Bureau

48 Medical Store Food Business License JY13716020021815 2027.08.17 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431354 2027.06.28 Yes

batch service bureau

49 Juxinyuan Store Medical Food Business License JY13716020030035 2027.09.21 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Fulinjiayuan Drug Business License Lu CB5431367 2027.07.25 Approval Service Bureau There are 50 medical stores Food Business License JY13716020030787 2027.09.08 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Drug Business License Lu CB5431350 2027.06.28 Youtengyu Xinyuan Market Supervision and Administration Bureau

51 Medical Store Food Business License JY13716280006588 2027.07.31 Binzhou Economic and Technological Development Zone Insurance Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB5431368 2027.07.25 Youjiangjia Community Batch Service Bureau

52 Medical Store Food Business License JY13716020031546 2027.08.25 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431390 2027.09.08 Yes

batch service bureau

53 Qilinge Store Medical Food Business License JY13716020041597 2028.02.14 Binzhou City Bincheng District Administrative Approval Service Bureau

Boxing County Administrative Approval Services

Drug Business License Lu CB543g00014 2027.09.25 Youchunliang Center Bureau

54 Medical Store Food Business License JY13716250109773 2029.04.28 Boxing County Administrative Approval Service Insurance Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431420 2027.11.17 Yes

batch service bureau

55 Changsheng Store Medical Food Business License JY13716020037721 2027.01.02 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB5431427 2027.11.17 Batch Service Bureau has 56 Kangjiabei Store Medical Food Business License JY13716020037676 2028.01.11 Binzhou City Bincheng District Administrative Review Guaranteed

batch service bureau

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Medical serial number Branch name Certificate name Certificate number Validity period Issuing authority

protect

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB5431428 2027.11.17 Shanghai Dadu Batch Service Bureau

57 Yihui Store Food Business License JY13716020041652 2028.02.14 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB5431425 2027.11.17 Youxinhe Garden Batch Service Bureau

58 Medical Store Food Business License JY13716020041628 2028.02.14 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Pharmaceutical Business License Lu CB5431394 2027.09.22 Market Supervision and Administration Bureau There are 59 field stores Medical and Food Business License JY13716280008459 2027.12.04 Binzhou Economic and Technological Development Zone Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431460 2028.03.14 Yes

batch service bureau

60 Huabin Store Medical Food Business License JY13716020047673 2028.05.28 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431465 2028.03.14 Yes

batch service bureau

61 Shuanghu Store Medical Food Business License JY13716020046242 2028.4.23 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431426 2027.11.17 Yes

batch service bureau

62 Cai Liu Store Medical Food Business License JY13716020170482 2028.04.13 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431424 2027.11.17 Yes

batch service bureau

63 Chunhui Second Store Medical Food Business License JY13716020037684 2028.01.11 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Drug business license Lu CB5431392 2027.09.22 Shanghai Shijia Market Supervision and Administration Bureau

64 Medical Store Food Business License JY13716280008442 2027.12.04 Binzhou Economic and Technological Development Zone Insurance Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB5431433 2027.11.17 Approval Service Bureau There are 65 Xingfuyuan Store Medical Food Business License JY13716020041610 2028.03.02 Binzhou City Bincheng District Administrative Approval Service Bureau

Wudi County Administrative Approval Services

Drug Business License Lu CB5431405 2027.10.12 Youwu Di Di Xin Bureau

66 Yiwu Road Store Food Business License JY13716230024544 2028.02.05 Wudi County Administrative Approval Service Insurance Bureau

Wudi County Administrative Approval Services

Pharmaceutical Business License Lu CB5431388 2027.08.29 Youwudi Champs Bureau

67 Yili Store Food Business License JY13716230024510 2028.02.05 Wudi County Administrative Approval Service Guarantee

bureau

Fengxiang Mingdu Binzhou City Bincheng District Administrative Review There are 68 drug business licenses Lu CB5431419 2027.11.17

Store batch service bureau medical

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Medical serial number Branch name Certificate name Certificate number Validity period Issuing authority

protect

Binzhou City Bincheng District Administrative Review Food Business License JY13716020058798 2028.07.04

batch service bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431421 2027.11.17 Yes

batch service bureau

69 Huanghe Store Medical Food Business License JY13716020037617 2028.01.02 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB5431423 2027.11.17 Youzhizhongmen First Batch Service Bureau

70 Medical Store Food Business License JY13716020041669 2028.02.14 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Market Supervision

Drug business license Lu CB543a00461 2029.11.03 Yes

Supervision and Administration Bureau

71 Wanshoutang Store Medical Food Business License JY13716020041666 2027.05.24 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Drug business license Lu CB543h00638 2030.4.22 Yes

Market Supervision Administration

72 Zhonghai City Store Medical only sells pre-packaged food registration YB23716270005750 None Binzhou Economic and Technological Development Zone Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Shengshi Chunqiu Pharmaceutical Business License Lu CB543a00610 2030.3.24 Batch Service Bureau There are 73 medical stores only sell pre-packaged food registration YB23716020027138 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB543a00493 2030.3.24 Youzhonghaihaoting Service Bureau

74 Medical store only sells prepackaged food registration YB23716020027937 None Binzhou City Bincheng District Market Supervision and Supervision Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB543a00621 2030.3.24 Youwutongfengming Batch Service Bureau

75 Medical store only sells prepackaged food registration YB23716020027040 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB543a00634 2030.3.24 Youxuanjia Mingdu Batch Service Bureau

76 Medical store only sells prepackaged food registration YB23716020024679 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB543a00670 2030.5.8 Youwutong Sixth Road Batch Service Bureau

77 Medical store only sells prepackaged food registration YB23716020027314 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431269 2027.1.4 Yes

batch service bureau

78 Min'an Store Medical only sells pre-packaged food registration YB23716020029939 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Pharmaceutical Business License Lu CB543a00695 2030.7.3 Batch Service Bureau has 79 Wutongyuan Store Medical only sells pre-packaged food registration YB23716020027568 None Binzhou City Bincheng District Administrative Review Guarantee

batch service bureau

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Medical serial number Branch name Certificate name Certificate number Validity period Issuing authority

Baobinzhou Economic and Technological Development Zone

Drug business license Lu CB543h00720 2030.9.2 Yes

Hujing Community Market Supervision and Administration Bureau

80 Medical store only sells prepackaged food registration YB23716270005768 None Binzhou Economic and Technological Development Zone Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB543a00704 2030.8.24 Yes

Binyi East Gate Batch Service Bureau

81 Medical store only sells prepackaged food registration YB23716020028198 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Beihai Xinyuan Pharmaceutical Business License Lu CB543a00719 2030.8.31 Batch Service Bureau There are 82 medical stores that only sell pre-packaged food registration YB23716020028235 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB543a00718 2030.8.31 Yes

Kirin Pavilion North Batch Service Bureau

83 Medical stores only sell prepackaged food registration YB23716020029711 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB543a00722 2030.9.17 Yes

Dahe New Town Batch Service Bureau

84 Medical store only sells prepackaged food registration YB23716020027953 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB543a00574 2030.11.4 Yes

Construction Engineering Dormitory Batch Service Bureau

85 Medical store only sells prepackaged food registration YB23716020032190 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Drug business license Lu CB543h00048 2030.11.3 Yes

Market Supervision Administration

86 Modern City Store Medical Food Business License JY13716280029367 2026.5.20 Binzhou Economic and Technological Development Zone Insurance Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB5431331 2027.5.23 Yes

Houjiaxinyuan Batch Service Bureau

87 Medical Store Food Business License JY13716020125502 2026.5.18 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Shengbin Community Drug Business License Lu CB543a00522 2031.1.11 Approval Service Bureau There are 88 medical stores that only sell pre-packaged food registration YB23716020028227 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB543a00521 2030.12.16 Yes

Sunshine Building Batch Service Bureau

89 Medical store only sells prepackaged food registration YB23716020030233 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB543a00785 2031.3.1 Yes

Shuangtai Construction Mass Service Bureau

90 Yicheng Store Only sells pre-packaged food Registration YB23716020027890 None Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone Yes

Cinda International

91 Drug Business License Lu CB543h00233 2029.06.26 Market Supervision and Management and Urban Medical Stores

Administration guarantees

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Medical serial number Branch name Certificate name Certificate number Validity period Issuing authority

protect

Binzhou Economic and Technological Development Zone

Food business license JY13716280029182 2026.5.16

Market Supervision Administration

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB543a00051 2031.2.2 Youlijing Xinju Batch Service Bureau

92 Medical Store Food Business License JY13716020125238 2026.5.12 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB543B018 2026.4.27 Central Park batch service bureau

93 Medical Store Food Business License JY13716020126752 2026.5.30 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB543B022 2026.6.20 Experimental Second Small Batch Service Bureau

94 Medical Store Food Business License JY13716020130327 2026.8.11 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB543B026 2026.8.2 Youtianchang Ruifu Batch Service Bureau

95 Medical Store Food Business License JY13716020130958 2026.8.22 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Pharmaceutical Business License Lu CB543h00671 2030.5.12 Market Supervision and Administration Bureau There are 96 Huiwanjiadian Medical Food Business License JY13716280031976 2026.11.3 Binzhou Economic and Technological Development Zone Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB543B024 2026.7.6 Youankang Garden Batch Service Bureau

97 Medical Store Food Business License JY13716020134318 2026.10.11 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB543B023 2026.6.28 People’s Hospital Approval Service Bureau

98 Medical DTP store food business license JY13716020132718 2026.9.16 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB543B027 2026.8.2 There is a Binhai Garden batch service bureau

99 Medical Store Food Business License JY13716020130966 2026.8.22 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug Business License Lu CB543B031 2026.9.16 Youshengyuan Batch Service Bureau

100 Medical Store Food Business License JY13716020134801 2026.10.24 Binzhou City Bincheng District Administrative Approval Service Bureau

Wudi County Administrative Approval Services

Drug Business License Lu CB543G011 2026.8.15 Youwu Di Di Xin Bureau

101 Yisi Road Store Food Business License JY13716230059150 2026.9.26 Wudi County Administrative Approval Service Insurance Bureau

Wudi County Administrative Approval Services

Wudi Yanbai Pharmaceutical Business License Lu CB5431432 2027.11.07 Bureau has 102 medical branches Food Business License JY13716230061791 2027.01.12 Wudi County Administrative Approval Service Bao

bureau

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Medical serial number Branch name Certificate name Certificate number Validity period Issuing authority

Baowudi County Administrative Approval Services

Drug business license Lu CB543G018 2027.04.01 Yes

Wudi Di New Bureau

103 Yiyi Road Store only sells pre-packaged food registration YB1371623000115 None Wudi County Administrative Approval Service Insurance Bureau

Wudi County Administrative Approval Services

Drug business license Lu CB543G017 2027.04.01 Yes

Wudi Hong Kong and Macao Bureau

104 Yicheng Store Only sells pre-packaged food registration YB1371623000113 None Wudi County Administrative Approval Service Insurance Bureau

Wudi County Administrative Approval Services

Wudi Jinxiu Drug Business License Lu CB543G022 2027.04.27 Bureau There are 105 Medical City stores only sell pre-packaged food registration YB1371623000132 None Wudi County Administrative Approval Service Insurance Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB543B035 2027.04.28 Yes

Jinyu Jinting Batch Service Bureau

106 Medical Store Food Business License JY13716020147418 2027.06.01 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB543B036 2027.05.25 Yes

batch service bureau

107 Lujiadian Medical Food Business License JY13716020147969 2027.06.08 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Drug business license Lu CB543I011 2027.07.19 Yes

Qinhuanghe City Market Supervision and Administration Bureau

108 Hospital Store Food Business License JY13716280035986 2027.07.31 Binzhou Economic and Technological Development Zone Market Supervision and Administration Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB543B020 2026.5.19 Yes

Yulong Lake Batch Service Bureau

109 Medical Store Food Business License JY13716020153607 2027.08.22 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB543B044 2027.11.02 Yes

Shuanghu Xinyuan Batch Service Bureau

110 Medical Store Food Business License JY13716020162827 2027.12.13 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Wenque Jiayuan Drug Business License Lu CB543B016 2026.4.19 Approval Service Bureau There are 111 medical stores Food Business License JY13716020180022 2028.06.27 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou City Bincheng District Administrative Review

Drug business license Lu CB543B019 2026.5.19 Yes

Zhonghai Haoting Batch Service Bureau

112 Yiximen Food Business License JY13716020193649 2028.10.22 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Drug business license Lu CB543h00726 2030.9.24 Yes

Julong Garden Market Supervision Administration

113 Yinanmen Food Business License JY13716280043470 2028.10.24 Binzhou Economic and Technological Development Zone Market Supervision and Administration Bureau

Wudi Xiangge Wudi County Administrative Approval Service There are 114 Drug Business Licenses Lu CB543f00227 2029.05.26

Lila New Store Bureau Medical

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

Medical serial number Branch name Certificate name Certificate number Validity period Issuing authority

Bao Wudi County Administrative Approval Service Bao only sells pre-packaged food registration YB23716230015329 None

bureau

Binzhou City Bincheng District Market Supervision

Drug business license Lu CB543a00190 2029.05.09 Yes

Yangliu Xuezhong Supervision Bureau

115 Yixin Street Store Food Business License JY13716020220574 2029.06.03 Binzhou City Bincheng District Administrative Approval Service Bureau

Binzhou Economic and Technological Development Zone

Development Zone Qing Drug Business License Lu CB543a00178 2029.04.25 Market Supervision and Management and City There are 116 Jianghuayuan New Administration Bureau Medical Store Binzhou Economic and Technological Development Zone Food Business License JY13716280048512 2029.05.30

Administrative Approval Service Bureau

Binzhou high-tech industry development

Drug business license Lu CB543i00240 2029.06.02 Yes

High-tech Zone Xiaofa District Administrative Approval Service Bureau

117 Medical Community Store Food Business License JY13716290026738 2029.06.27 Binzhou High-tech Industry Development Baofa District Administrative Approval Service Bureau

Binzhou City Bincheng District Market Supervision

Drug business license Lu CB543a00245 2029.06.06 Yes

Xinhu Jingyuan Supervision and Administration Bureau

118 Yinan Store only sells pre-packaged food registration YB23716020019550 None Bincheng District Administrative Approval Service Insurance Bureau

Wudi County Administrative Approval Services

Drug business license Lu CB543f00229 2029.05.26 Yes

Wudi Dongfang Bureau

119 Yihuayuan New Store Only sells pre-packaged food Registration YB23716230015312 None Wudi County Administrative Approval Service Insurance Bureau

Binzhou Economic and Technological Development Zone

Drug Business License Lu CB543h00338 2029.07.16 Market Supervision and Management and City There are 120 Yushu Lanting Administration Bureau Medical Store

Binzhou Economic and Technological Development Zone only sells pre-packaged food registration YB23716270001849 None

Administrative Approval Service Bureau

Binzhou City Bincheng District Market Supervision

Drug business license Lu CB543a00304 2029.07.03 Yes

Four Seasons Flower City Supervision and Administration Bureau

121 Medical store only sells prepackaged food registration YB23716020019066 None Bincheng District Administrative Approval Service Insurance Bureau

Wudi County Market Supervision and Management

Drug Business License Lu CB543f00345 2029.07.25

Wudi Chariot King Bureau

122 Wuzhen Center Store Wudi County Administrative Approval Services

Only sales of prepackaged food registration YB23716230016207 None

bureau

(3) The retail format of each store, the qualifications of designated medical card swiping points, and the qualifications of licensed pharmacists and other personnel

Preface Pharmaceutical Retail Is it Medical or Not?

Branch Name Pharmacist/Licensed Pharmacist Registration Number

No. Business type Baoding point

1 Hualian Store Supermarket Store is Liu Hongjun/Zhao Qiuyu 201910026370006362/Lu 211502014400054

Liu Sumei/Zhou Lianpeng/Liu

2 Imperial City Store Community Store is 201910026370006406

Wen Jing

Li Yulan/Zhao Yunyan/Tan

3 Wanfudian Community Store is 0023551/Lu211502014400041

Yanfei

Kangjia Market Wang Xia/Cheng Jiahui/Zhi Ai

4 community store is ZY00245070

shop hua

Fengze Yujing

5 Community Store is Wei Junjuan/Yin Junling 20201002637000006641

Nanmen Gate

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report Preface Drug Retail Whether Medical

Branch name Pharmacist/licensed pharmacist Registration number Business format Baoding location

Li Yanli/Zhang Mengyue/禚

6 Wanshou Store Community Store is ZY00387910/Lu211502014400035 Lanyu

Qingyi Market Ma Wenhong/Song Deming/Liu

7 community store is ZY00387854 store Luxia

Haitong Times Zhang Xiaomei/Li Hui/Zhao Ya

8 Community store is ZY00387893/540965 Garden store Ru

Wutong 5th Road Liu Zongliang/Dong Qiu/Shen Pan

9 Community store is ZY00244910

shop hope

10 Xuanjia Store Community Store is Tian Lianying/Xiang Mingming 201810026370001783

Xu Dandan/Sun Minmin/Hou

11 Weijiadian Community Store is 201910026370006469/Lu211502014400044 Yanmei

Phoenix Road Wang Haili/Wang Jinfeng/Zhao

12 Community store is ZY00387920/540982/20201002637000006520

Shop Xiujuan

13 East Street Store Daji Store is Shi Juanjuan/Suo Wenjin 201810026370003871

Sanhe Lake Sun Baotao/Zhou Jianfang/Sun

14 Dajidian is ZZ00377974/Lu211502014400051/517273 Xindian Qianqian

Longxi Garden Zhang Yingying/Gao Lili/Sun

15 Community store is 201910026370006357/Lu 211502014400057 store Xinxin

Li Lifang/Ma Mimi/Zhou

16 Zhangkejiadian Community Store is 20201002637000002223/Lu 211502014400043

Wisdom

17 Qingyi North Store Community Store is Cheng Fang/Zhang Shujuan 201910026370006358

Yang Hongwei/Cui Yanfang/Zhang

18 Liangcaidian Dajidian is 20201002637000006527/516642/517732 Xiying

Hua Tianbinzhong Youqin/Zhao Tongshuai/Zhao Yong

19 Community store is ZY00244890

Jiayuan Store Mei

20 Rongkang Store Community Store is Su Yingying/Tian Qinqin ZY00215758/540313

People's Hospital

21 Community store is Wang Shuhua/Wen Jing ZZ00311065/541044 Nanmen store

Xiangru Homeland Lan Guozhen/Yang Shouxia/Wei

22 Community store is ZZ00377339/713506/540929 store Haiyan

Tiancheng Garden

23 Community store is Pingying/Xinxiaoman ZY00388092/713702 store

Binyi South Gate Liu Yongzhen/Xue Li/Yang Zeng

24 Community store is ZY00387880 store red

Li Shumei/Dong Qingqing/Li

25 Wankang Store Community Store Yes 201910026370006431/713591/517757 Longhua

Shanliu Liushe

26 Community store is Liu Lingling/Ma Liheng ZY00388123/104182 district store

Wutong 4th Road Li Jianfen/Zhang Hongxia/Zhao

27 Community store is 201910026370006423/ZZ00217344/540964 store Yingjie

Binyi Ximen Liu Qiangjun/Xu Nan/Yang Zeng

28 Community store is 201910026370006578/ZZ00216363 store Ye

Scholarly residence

29 Community store is Cui Dongmei/Feng Mengyue store ZY00387836

Zhou Rongyan/Zhao Jie/Xiao Zhen

30 Dazhangguandian Dajidian is 201910026370006416yu

Meigui Garden Liu Xiufang/Liu Honghua/Guo

31 Community store is 2017026370262015372302000380 store Juanjuan

Beiyang Xinyuan Zhang Jianguo/Zhao Lingling/Wei

32 Community store is 2017026370262015372302000211 store Chunyan

Julong Garden

33 Dajidian is Jiang Guoli/Lv Zhongqiu ZY00490495/517281

shop

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report Preface Drug Retail Whether Medical

Branch name Pharmacist/licensed pharmacist Registration number Business format Baoding location

Xinguang Community

34 Community store is Wang Lihua/Wang Congguo 0056085 store

Lake View Garden

35 Community store is Lan Yanmei/Chen Xinyong 201810026370003846/111451 store

Tomorrow Star City Yu Tingting/Liu Lele/Sha

36 Community store is 20211002637000004258/619034 store Lili

Li Ze Center Shang Juan/Li Yanxia/Qiu Yu

37 Daji store is 20201002637000006624/20130650 store Xia

Zheng Wenlong/Zhang Mingjun/Zhang

38 Jinfang Store Community Store Yes 2017026370262016372302000164/618791/ZY00389638 Peipei

Waterside Garden

39 Community store is Zhao Cuiping/He Zhenzhen ZY00387881/617655 store

Sun Xina/Liu Ran/Tian Wen

40 Lijing Store Community Store Yes 02620241037000005465

text

41 Chunhui Store Community Store is Dong Ke/Gao Shoufeng 20221202637000002542/619114

42 Haihe Store Community Store is Zhao Peipei/Zhao Na ZY00245061/540967

Liang Cai Trading

43 Daji Store is Xu Jinghuan/Wang Shasha 0132251/540952 City Store

Bincheng Xili

44 Community store is Tian Yingying/Li Xiu 201910026370006457/Lu 211502014400040 store

Pastoral Song Wang Yanbin/Hu Junli/Xie

45 Community Store is ZZ00377409/541041

Shop Hongyun

46 Qinhuangtai Store Daji Store is Geng Weihua/Sun Hongfen ZY00245067/713590

Famous County in Taishan Wan Wenbo/Zheng Yu/Gaoxue

47 Community store is ZZ00311122/619072 store English

Jitai Sunshine Zhang Xinjing/Chen Yanying/Gao

48 Community store is 201910026370006450 store Chunfang

Zhao Minmin/Du Xiaoxia/Zhang

49 Juxinyuan Store Community Store is ZY00387954/517742 Huifen

Fulinjiayuan Zhang Zhiqiang/Gao Yuehui/Zhi

50 Community Store Yes 20201002637000006700 Store Yingying

Tengyu Xinyuan Wang Hongfang/Wang Weixia/Liu

51 Community Store Yes 0170340/112863 Store Hongfei

Jiangjia Community

52 Community store is Yin Panpan/Zhang Mei ZY00490456/617671 store

Li Wenying/Zhang Xiuli/Zhang

53 Qilinge Store Community Store is ZY00490623 yuan

Pure Beam Center

54 Community Store is Han Baoliang/Sun Xinxin ZZ00311172

shop

55 Changsheng Store Community Store Yes Yin Baoqin/Guo Hongxia 201810026370003939

Wang Wenpeng/Fu Yanrui/Yu

56 Kangjia North Store Community Store is ZY00388019 Qian

Shanghai Dadu Fan Cuixia/Chen Jianhui/Cao

57 Community Store is ZY00490507/619109 Huidian Shoufen

Xinhe Garden Han Xiaoyan/Li Hongxia/Liu

58 Community Store is 20201002637000006786

Shop Luyang

59 Field Store Community Store Yes Sun Ying/Yin Yingxia/Wang Fen 2017026370262016372301000103

Liu Yanyan/Sun Jie/Wang Li

60 Huabin Store Community Store Yes 20201002637000006567yan

Li Qianqian/Su Xiuping/Tu

61 Shuanghu Store Community Store Yes 20221202637000002560

Li Ying

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report Preface Drug Retail Whether Medical

Branch Name Pharmacist/Licensed Pharmacist Registration Number

No. Business type Baoding point

62 Cai Liu Store Community Store is Liu Huixia/Sun Dongmei ZY00387818/516715

Zhao Jingyi/Wang Hongli/Xue

63 Chunhui No. 2 Community Store is 0189775 Li

Shanghai Family Li Xiuxiang/Song Tank/Du

64 Community Store Yes 201910026370006359/20130231

shop qingqing

65 Xingfuyuan Store Community Store is Ji Zhiyan/Song Dezhou ZY00490490/619105

Wudi Dixin Sun Xiufen/Chang Jingjie/Zhao

66 Community Store is 201810026370004028 Fifth Road Store Li

Wudi Champs

67 Community store is Chen Xiaomin/Nan Ruiyu 2017026370262016372302000047/619098 store

Fengxiang famous capital

68 Community store is Suningning/Jiang Haicai 201910026370006430 store

Shin Soo Young/Lee Ji Ye/Guo

69 Huanghe Store Community Store is ZY00490445/618850/0015704 Jing

supreme family status

70 Community store is Dong Jian/Yin Chenyang/Sun Xiao 20201002637000006660 store

Li Yueqing/Xu Shasha/Zhang

71 Wanshoutang Store Community Store is ZZ00377406/1608085 Junmin

Li Linlin/Guo Xiaoxiao/Xia

72 Zhonghai City Store Community Store is 201910026370006454 Xiuzhen

The prosperous Spring and Autumn Period

73 Community store is Sun Jinhai/Zhang Mengdi 201810026370003851/Lu 200300137400176 store

Zhonghai Haoting

74 Community store is Wang Xinhua/Fan Meiyan ZY00490583/517293 store

Wutong Fengming

75 Community store is Chen Jing/Li Yi/Yin Yanxiao 02620241037000005478 store

Xuanjia famous capital

76 Community store is Wang Guizhi/Wang Xiaoxu 201910026370006368/Lu 200300137400173 store

Wutong Sixth Road

77 Community Store is Dong Zhaohui/Wang Yuanyuan 201910026370006448/Lu 200300137400172

shop

78 Min'an Store Community Store is Deng Yanfang/Lan Yanxia 0119113

79 Wutongyuan Store Community Store is Lin Fengfeng/Chen Rongmei ZY00387951/112863

Hujing Community

80 Community store is Yin Jianmin/Hu Xiaomin 201910026370006467 store

Binyi East Gate Liu Jianhui/Zizitong/Xie

81 Community store is 201910026130001164/Lu 200300137400178 store Shu Jing

Beihai Xinyuan

82 Community store is Wu Zhihong/Zhang Junjie ZY00387914 store

Qilin Pavilion North

83 Community store is Nan Xiuling/Dai Zhenzhen 2017026370262014372302001073 store

Dahe New Town Lu Juexiang/Xin Shasha/Wang

84 Community Store Yes 201910026370006363 Store Cui

Construction dormitory

85 Community Store is Lu Fei/Zhao Shuxiao 20201002637000001695

shop

86 Modern City Store Community Store is Tang Yulin/Xu Yanjun ZZ00262697/Lu 0171203677

Houjiaxinyuan Suluhui/Zhao Luxuan/Liu

87 Daji store is store 20231002637000003907 Kuihua

Shengbin Community Wang Pingmei/Zhao Xueyan/Yue

88 Community store is 02620241037000005518 store Caikui

Sunshine Building Guo Zhidong/Wang Li/Yang Cai

89 Community Store is ZY00387925/20130651

Shop Fu

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report Preface Drug Retail Whether Medical

Branch Name Pharmacist/Licensed Pharmacist Registration Number

No. Business type Baoding point

Shuangtai Jianda Xu Yanling/Liu Jianfen/Cui

90 Community Store Yes 2017026370263016372301000238 City Store Jiajia

Cinda International

91 Community store is Chen Liang/Zhang Hongyun ZY00490628/713588 store

Lijing Xinju

92 Community store is Gai Lulu/Zhao Peipei 20201002637000006486/713686 store

central park

93 Community store is Chen Xinmin/Xia Wenjie 2017026370262016370104000553 store

Experiment 2

94 Community store is Liu Lingling/Han Hongying ZY00215774 store

Tianchang Ruifu

95 Community store is Liu Liguo/Zhou Linlin 20221202637000002536 store

Xing Xiangyan/Wang Ying/Xu Cai

96 Huiwanjiadian Supermarket Store is ZY00215761 cloud

Ankang Garden

97 Community Store is Su Xinjun/Dong Jianwen 20201002637000006526 store

People's Hospital Jiang Ruiling/Wang Yanning/Cao

98 Community Store Yes 0056080/142401 DTP Store Lijun

Marina Garden Li Guifang/Jiang Enjie/Bi

99 Community Store Yes 2017026370262015372302000370 Store Haiyan

victory garden

100 Community store is Du Zhixia/Zhang Zhenzhen 201810026370003909/0189776 store

Wudi Dixin

101 Community Store is Liu Yongmei/Cong Nana 0132243/Lu 210300114400206 Fourth Road Store

Wudi Yanbai Chen Fuying/Li Ning/Li Chun

102 Supermarket store is 2017026370262016370101003715/Lu 211502014400039 store Yan

Wudi Dixin

103 Community Store is Xu Yangyang/Wang Shuangshuang 02620241037000005668/Lu 221502014400073 1st Road Store

Wudi Hong Kong and Macau

104 Community Store is Zhao Fangfang/Han Rong 02620241037000005500/Lu 211502014400039 City Store

Wudi Jinxiu

105 Community Store is Wang Kaizhen/Zhao Ningning 0109148

Chengdian

Jinyujinting

106 Community Store is Zhang Jinfeng/Liang Yufang ZZ00311111/Lu 221502014400101

shop

107 Lujia Store Community Store is Zhang Lubo/Yang Lingling 201810026370003860/Lu 20185181

Qinhuanghe City

108 Community Store is Sun Daozhi/Zhou Donghua ZY00490924/Lu 21150201440048

Changdian

109 Yulonghu Store Community Store is Yin Lixiang/Wang Fuzhen 201910026370006418/517733

Shuanghu Xinyuan

110 Community Store is Li Jing/Liu Chao ZY00387841/123050 store

Wen Que Garden

111 Community Store is Geng Yuhong/Hua Xiaoqing 20201002637000006529/713684 store

Zhonghai Haoting

112 Community Store is Zhang Shufang/Li Tingting ZZ00377436 Ximen

Julong South Gate

113 Community store is Zhang Hongyu/Sun Luyan ZY00388115/Lu 200300137400177 store

Wudi Xiangge

114 Community Store is Cui Yanhua/Liu Zhenzhen 20231002637000003945 Lira New Store

Willows in the snow

115 Community Store is Shen Guoying/Han Haixia 20231002637000003987 Xinjie Store

Development Zone Clearance

116 Jianghuayuan New Community Store is Xin Pengfei/Liang Jingjing 20231002637000004041 store

High-tech Zone Small

117 Community Store is Cui Mingxia/Bian Guoyan ZY00388066

Ying community store

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report Preface Drug Retail Whether Medical

Branch Name Pharmacist/Licensed Pharmacist Registration Number

No. Business type Baoding point

Xinhu View Garden

118 Community Store is Zhang Haizhen/Li Xinying 20201002637000006533

Nanmen Gate

Wudi Dongfang

119 Community Store is Cui Guiyu/Li Huanli 20231002637000004077

Garden new store

Royal Villa Orchid Pavilion

120 Community Store No Nie Guoying/Fan Li 20231002637000003902

shop

Four Seasons Flower City

121 Community Store No Sun Wenhua/Lan Ruonan ZZ00311089

shop

Wudi King of Cars

122 Community store No Sun Tingting/Wang Xiaoxia 20231002637000003973

Town center store

Financial status:

The audited main asset operating data of Binzhou Miracle in 2023, 2024 and the valuation basis are as follows: Amount unit: RMB 10,000

Item December 31, 2023 December 31, 2024 Total assets on December 31, 2025 11,066.47 10,685.57 9,686.56 Total liabilities 7,556.47 7,265.70 6,010.63 Net assets 3,510.00 3,419.88 3,675.94

Project 2023 2024 2025

Operating income 16,290.23 14,630.19 14,501.35Total profit 673.02 276.99 397.02Net profit 500.75 159.87 336.06 The 2023 financial statements have been audited by the Guizhou Branch of Shun Lun Pan Certified Public Accountants (Special General Partnership), and a standard unqualified audit report No. 10014 of Xinhuishi Guibaozi [2024] has been issued;

The 2024 financial statements have been audited by the Guizhou Branch of Shun Lun Pan Certified Public Accountants (Special General Partnership), and a standard unqualified audit report No. 10015 of Xinhuishi Guibaozi [2025] has been issued;

The 2025 financial statements have been audited by BDO Accounting Firm (Special General Partnership), and the audit report has not yet been issued as of the date of the evaluation report.

Main accounting policies and tax benefits

Binzhou Magic implements the "Accounting Standards for Business Enterprises", "Accounting Standards for Business Enterprises - Application Guide" and other relevant regulations promulgated by the state to carry out accounting processing and preparation of accounting statements for economic business.

The main taxes implemented by Binzhou Magic are as follows:

Type of tax Tax calculation basis Specific tax rate situation

The current output tax that can be deducted is 9% for traditional Chinese medicines, 3% for biological preparations, and other value-added taxes.

Balance after item tax Goods 13%

Urban construction and maintenance tax Actual turnover tax paid 7%

Education fee surcharge Actual turnover tax paid 3%

Local education surcharge Actual turnover tax paid 2%

Corporate income tax: 25% of taxable income

(3) Relationship between the client and the property rights holder

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report The client holds 34% of the equity of Shandong Magic Pharmaceutical Co., Ltd., and Shandong Magic Pharmaceutical Co., Ltd. holds 80% of the equity of the property holding unit.

(4) Overview of users of other asset appraisal reports stipulated in the asset appraisal entrustment contract

None.

2. Evaluation purpose

Binzhou Magic intends to conduct a goodwill impairment test for the purpose of financial reporting. The purpose of this assessment is to evaluate the recoverable amount of Binzhou Magic's asset group portfolio containing goodwill involved in this economic behavior, and to provide a value reference for Binzhou Magic's proposed goodwill impairment test.

3. Assessment objects and assessment scope

(1) According to the purpose of evaluation, the object of this evaluation is the recoverable amount of Binzhou Magic’s asset group portfolio including goodwill.

According to relevant regulations, the asset group or asset group combination related to the goodwill impairment test should be an asset group or asset group combination that can benefit from the synergistic effects of the business combination.

After discussions with the company's management and auditors, the appraisers fully identified and identified Binzhou Magic's asset group combinations related to the goodwill impairment test on the basis of full consideration of the independence of cash inflows generated by the asset group portfolio, as well as factors such as the company's management style of management of production and operation activities and the decision-making method of the continued use of assets.

(2) Based on the purpose of evaluation and the above-mentioned evaluation objects, the scope of this evaluation is goodwill and goodwill-related asset group combinations. Among them, the book value of the goodwill-related asset group portfolio is consistent with the company's statement caliber, excluding separate assets and liabilities that have nothing to do with goodwill and should not be included in the asset group portfolio.

The total assets of the asset group including goodwill on the valuation base date were RMB 52.486 million. The asset types and book composition of Binzhou Magic included in the valuation scope are as follows:

Amount unit: RMB 10,000 Item Book value

Fixed assets 181.80 Intangible assets 4.45 Long-term deferred expenses 95.10 Total long-term assets 281.34 Goodwill 4,967.26

Total 5,248.60

The book value of the above-mentioned goodwill-related asset group combinations has been audited by BDO Accounting Firm (Special General Partnership).

The above-mentioned assessment objects and scope are consistent with the objects and scope of the entrusted assessment and the assessment objects and scope involved in this economic behavior. The asset composition within the assessment scope has been confirmed by the property rights holding unit and the audit institution.

(3) In the asset group portfolio, the main asset status is as follows:

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report 1. Fixed assets situation

Fixed assets mainly include vehicles and electronic equipment. There are a total of 312 pieces of equipment (sets), mainly computers, shelves, air conditioners, etc. These equipment are mainly distributed in various stores of the company. They perform well and basically meet the needs of production and office. There are 4 vehicles in total, which are in good driving condition and can basically meet the company's transportation needs.

Intangible assets

The intangible assets recorded in the books of the property holding unit are mainly outsourced software, totaling 10 items.

Long-term deferred expenses

The long-term deferred expenses mainly include the decoration costs of each drug store, the scale of external contacts on corporate WeChat, the software function development service fee of the audit system of Eastcom Heping Medical Insurance designated chain pharmacies, and the 580 prescription fee, etc.

goodwill

Goodwill was formed when Binzhou Magic absorbed Jiahe, Jinfang and Shengjitang, and the initial measurement amount was determined based on the difference between Binzhou Magic's merger cost and the fair value share of the identifiable net assets of Jiahe, Jinfang and Shengjitang obtained in the merger.

The initial recognition amount of goodwill was 49,672,598.05 yuan. As of the assessment base date, Binzhou Magic had not made any impairment provision for it. The book value of this goodwill in Binzhou Magic's accounting statements was 49,672,598.05 yuan.

4. Value type

According to the purpose of this valuation, we select the recoverable amount of the asset group combination as the value type of this valuation report.

The recoverable amount is determined based on the higher of the net amount including the fair value of the goodwill asset group minus disposal costs and the present value of the expected future cash flows.

The type of recoverable amount is selected due to the requirements of the basic elements of asset evaluation such as the purpose of evaluation and the object of evaluation.

5. Evaluation base date

The asset appraisal entrustment contract stipulates that the base date for this appraisal is December 31, 2025.

6. Basis of evaluation

(1) Legal and regulatory basis

"Civil Code of the People's Republic of China";
"Company Law of the People's Republic of China";
"Asset Appraisal Law of the People's Republic of China";
"Securities Law of the People's Republic of China";
"Enterprise Income Tax Law of the People's Republic of China";
"Value-Added Tax Law of the People's Republic of China";

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report 7. "Announcement on Relevant Policies for Deepening Value-Added Tax Reform" (Announcement No. 39 [2019] of the Ministry of Finance, the State Administration of Taxation, and the General Administration of Customs);

"Notice on Comprehensively Launching the Pilot Program of Replacing Business Tax with Value-Added Tax" (Finance and Taxation [2016] No. 36 of the Ministry of Finance and State Administration of Taxation);
"Notice on Several Issues Concerning the National Implementation of Value-Added Tax Transformation Reform" (Ministry of Finance and State Administration of Taxation [2008] No. 170);
"Implementation Regulations of the Value-Added Tax Law of the People's Republic of China" (Order No. 826 of the State Council of the People's Republic of China on December 25, 2025)"
Other laws, regulations and rules related to evaluation work.

(2) Basis for standards

"Basic Standards for Asset Valuation" (Caizi [2017] No. 43);
"Professional Code of Ethics for Asset Valuation" (China Appraisal Association [2017] No. 30);
"Asset Appraisal Practice Guidelines - Asset Appraisal Methods" (China Appraisal Association [2019] No. 35); 4. "Asset Appraisal Practice Guidelines - Asset Appraisal Procedures" (China Appraisal Association [2018] No. 36); 5. "Asset Appraisal Practice Guidelines - Asset Appraisal Report" (China Appraisal Association [2018] No. 35); 6. "Asset Appraisal Practice Guidelines - Asset Appraisal Entrustment Contract" (China Appraisal Association [2017] No. 33); 7. "Asset Appraisal Practice Guidelines - Asset Appraisal Files" (China Appraisal Association [2018] No. 37); 8. "Guidelines for Enterprise State-owned Assets Valuation Report" (China Review Association [2017] No. 42);
"Business Quality Control Guidelines for Asset Appraisal Agencies" (Zhongping Xie [2017] No. 46);
"Guiding Opinions on Asset Appraisal Value Types" (Zhongping Xie [2017] No. 47);
"Guiding Opinions on the Legal Ownership of Asset Appraisal Objects" (Zhongping Xie [2017] No. 48);
"Guidelines for Valuation for Financial Reporting Purposes" (China Appraisal Association [2017] No. 45);
"Accounting Standards for Business Enterprises No. 39 - Fair Value Measurement";
"Accounting Standards for Business Enterprises No. 8 - Asset Impairment".

(3) Basis of ownership

Motor vehicle driving license;
Important asset purchase contracts or vouchers;
Other contracts, legal documents and other materials related to the acquisition and use of corporate assets.

(4) Basis for pricing

Relevant market price information on the valuation base date;
The business plan and income forecast information of the property-holding unit;
Evaluators’ on-site discussions and survey records;
Information learned and collected by evaluators from market research;
Other relevant information.

Website: http://www.caa—bj.com.cn Tel: 010—88395166 Fax: 010—88395661 Postcode: 100044 Address: 13th Floor, Building B1, Building 5, No. 9, Chegongzhuang Street, Xicheng District, Beijing Email: [email protected] 24

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

(5) Other references

"Accounting Supervision Risk Warning No. 8 - Goodwill Impairment";
"Asset Valuation Expert Guide No. 11 - Goodwill Impairment Test and Assessment" (China Appraisal Association [2020] No. 37);
"Asset Valuation Expert Guide No. 12 - Calculation of Discount Rate in Evaluating Enterprise Value using the Income Method" (China Appraisal Association [2020] No. 38);
"Guidelines for the Application of Supervisory Rules - Assessment Category No. 1";
"Guidelines for the Application of Supervisory Rules - Assessment Category No. 2";
"China Assets Appraisal Association Asset Appraisal Business Reporting and Management Measures" (China Appraisal Association [2021] No. 30); 7. "Asset Valuation Standards Terminology 2020" (China Appraisal Association [2020] No. 31);
Asset inventory declaration detailed form provided by Binzhou Magic;
Binzhou Miracle's previous annual audit reports and financial statements on the base date of assessment;
wind information related data.

7. Evaluation method

(1) Selection of evaluation methods

Based on the asset characteristics and purpose of this evaluation, the value type selected for this evaluation is recoverable amount. The recoverable amount shall be determined based on the higher of the net amount including the fair value of the goodwill asset group or asset group portfolio minus disposal costs and the present value of the expected future cash flows.

The estimated future cash flow of the asset group portfolio refers to the operating cash flow that can be generated within the remaining useful life of the main assets under the current management and operating model based on the current status of the assets under commission and on a pre-tax basis.

The net amount of the fair value of an asset group portfolio minus disposal costs shall be determined based on the sales agreement price in an arm's length transaction minus the amount directly attributable to the asset disposal costs. If there is no sales agreement but there is an active market for the asset, the amount shall be determined based on the market price of the asset minus the disposal costs. The market price of an asset should generally be determined based on the buyer's bid for the asset. In the absence of a sales agreement and an active market for the asset, the net amount of the asset's fair value minus disposal costs should be estimated based on the best available information. This net amount can be estimated with reference to the recent transaction price or results of similar assets in the same industry.

Based on the purpose and object of this evaluation, this project does not meet the conditions for calculating the net amount of fair value minus disposal costs using the market method and cost method. Binzhou Magic's assets related to the goodwill impairment test are regarded as an asset group portfolio. The allocation of assets within the asset group portfolio should be effective, and there is basically no possibility of significant changes or resets in the future cash flows of the asset group portfolio. That is, on the premise of effective allocation or reset of the assets within the asset group, the discounted cash flow value of the estimated asset group portfolio in the remaining economic life will not be significantly different from the present value of the operating cash flow that the asset group portfolio can generate in the remaining economic life under the current management and operation model. The resulting fair value of the asset group minus disposal costs will generally be lower than the present value of the expected future net cash flows of the asset group combination.

Through the above analysis, it is judged based on the higher principle of the net amount after deducting disposal expenses from fair value and the present value of expected future cash flows. Therefore, this evaluation is based on the estimated future net cash flow of the assets group calculated using the income method.

The recoverable amount of the asset group portfolio of Binzhou Magic Pharmacy Co., Ltd. The value in the asset appraisal report is used as the recoverable amount of the assets group under entrustment assessment.

(2) Introduction to the present value of expected future cash flows

Prerequisites applicable to the present value of expected future cash flows

(1) The expected future returns of the asset group portfolio can be predicted and measured in monetary terms;

(2) The risks borne by property holding units in obtaining expected returns can also be predicted and measured in monetary terms;

(3) The expected profit period of the asset group portfolio can be predicted.

present value of expected future cash flows

The present value of expected future cash flows refers to an evaluation method that capitalizes or discounts expected income to determine the value of the evaluation object.

Basic evaluation ideas

Based on the due diligence investigation of this evaluation, the composition of the asset group portfolio and the main business characteristics, the basic idea of this evaluation is to use the discounted cash flow method (DCF) according to the income path to estimate the value of the asset group portfolio. 4. Evaluation model

(1) Basic model

The basic model for this assessment is:

n R

P   i  n -Wc

(1 r)i r(1 r)n

i1

In the formula:

P: the value of the evaluation object

Ri: expected return in year i during the forecast period

Rn: is the expected sustainable income in the nth year and beyond.

r: pre-tax discount rate

n: Revenue forecast period

Wc: Working capital on the assessment base date

(2) Income indicators

The income caliber includes the cash flow (R) generated during the use of the asset and the cash flow generated at the final disposal (Pn). The expected future cash flow of the asset should not include cash flow generated from financing activities and income tax collection and payment. The calculation formula is as follows:

R=EBIT+depreciation and amortization-capital expenditure-increase in working capital

EBIT is profit before interest and taxes, and its calculation formula is as follows:

EBIT = total profit + interest expense = operating income - operating costs - taxes and surcharges - operating expenses - administrative expenses - financial expenses + interest expenses

In this asset evaluation, taking into account the relevant characteristics of the evaluation object, the going concern assumption was adopted, and a sustainability model was used when determining the estimated future cash flow of the asset. Therefore, the cash flow (Pn) generated when the asset is disposed of is zero.

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

(3) Forecast period

The core asset in the assessed asset group in this evaluation is goodwill. Goodwill has no definite economic life, so the income period selected for this evaluation is indefinite. This time, the segmentation method is used to predict the income of the asset group portfolio, that is, future income is divided into income during a clear forecast period and income after a clear forecast period. The determination of the clear forecast period takes into account the cyclicality of industry products and the development of the company itself. According to the market survey and forecast of the evaluator, 5 years is more appropriate.

(4) Discount rate

In this evaluation, when determining the discount rate, we first considered the market interest rate of the asset as the basis. However, since the interest rate of the asset cannot be obtained from the market, we used alternative interest rate estimates. When estimating the replacement interest rate, we fully consider the time value of money and other relevant factors during the remaining life of the asset, and determine it based on the enterprise's weighted average cost of funds.

It should be noted that since the pre-tax cash flow is used as the prediction basis when estimating the future cash flow of assets, and the basis for estimating the enterprise's weighted average cost of capital WACC is after-tax, it should be adjusted to the pre-tax discount rate to be consistent with the estimation basis of the asset's future cash flow.

The discount rate is calculated using the WACC model adjustment and is determined as follows:

r=WACC/(1-T)

In the formula:

WACC: weighted average cost of capital;

T: corporate income tax rate.

WACC=Ke×E/(D+E)+Kd×D/(D+E)×(1-T)

In the formula:

E: Market value of equity;

D: market value of debt;

Kd: cost of debt capital;

Ke: Cost of equity capital.

Determine the cost of equity capital according to the capital asset pricing model (CAPM):

Ke=R + (R -R)×β+Rc

f m f

In the formula:

R: risk-free return rate;

R: expected market rate of return;

β: Market risk coefficient of equity;

Rc: Characteristic risk adjustment coefficient of the evaluation object.

8. Implementation process and situation of evaluation procedures

Beijing Zhongtianhua Asset Appraisal Co., Ltd. (hereinafter referred to as "our company") asset appraisal professional evaluation website: http://www.caa—bj.com.cn Tel: 010-88395166 Fax: 010-88395661 Postal code: 100044 Address: 13th Floor, Building B1, Building 5, No. 9 Chegongzhuang Street, Xicheng District, Beijing Email: [email protected] 27

The assets involved in the recoverable amount of Binzhou Magic Pharmacy Co., Ltd.'s asset group portfolio asset evaluation report have been evaluated. The main evaluation procedures are implemented as follows:

(1) Clarify preliminary matters and accept the evaluation entrustment

Communicate with the client, clarify the purpose of the valuation, valuation objects and scope, valuation base date and other basic matters of the valuation business, reach an agreement on the rights and obligations of all parties, and sign the "Asset Valuation Entrustment Contract".

(2) Prepare an assessment plan and conduct on-site investigations

Conduct on-site investigations on the appraisal objects, obtain information required for the appraisal business, understand the current status of the appraisal objects, and pay attention to the legal ownership of the appraisal objects.

Preliminary preparation

In view of the business characteristics and asset distribution of this project, our company established corresponding working groups according to project needs. Conduct asset assessment and declaration work training for relevant personnel of the property-holding unit, so that the financial and asset management personnel of the property-holding unit can understand and complete the work of filling in asset assessment materials, answer questions encountered in filling in the asset assessment materials, and guide relevant personnel of the property-holding unit to conduct a preliminary self-examination of the assets and liabilities within the assessment scope and prepare assessment materials.

Asset verification

(1) Instruct relevant personnel of the property rights holding unit to fill in the report and prepare relevant information

Communicate with relevant financial and asset management personnel of the enterprise, assist the enterprise to fill in the declaration form and its filling requirements, information list, etc. provided by the evaluation agency, and prepare to collect relevant information.

(2) Preliminarily check the assessment declaration form provided by the property owner

After reading the relevant information and understanding the detailed status of the specific objects involved in the assessment scope, carefully check each declaration form and make a preliminary inspection to see if there are any incomplete or incorrect entries, unclear items and unreasonable linkage relationships. At the same time, feedback will be given to the enterprise for supplement, modification, and improvement.

(3) On-site investigation

Combined with the characteristics of the assessment objects and assessment methods, the financial and operating information of the main assets will be verified, and on-site investigations of the main assets will be conducted, such as inquiries, interviews, verifications, inspections, surveys, etc.; on-site interviews will be conducted on the company's past financial status, operating conditions, future development strategies, and the specific implementation of development plans.

due diligence

Conduct necessary due diligence, the main contents of which are as follows:

(1) Understand the historical evolution of the property-holding unit, major shareholders and shareholding ratios, necessary property rights and operating management structure; understand the past assessments and transactions of the appraisal object.

(2) Understand the assets, finance, production, operation and management status of the property rights holding unit;

(3) Understand the historical operating status of the property-holding unit such as its historical annual income, costs, and expenses, and understand its business plan and development plan;

(4) Understand the macro and regional economic factors that affect the production and operation of the property rights holder;

(5) Understand the development status and prospects of the industry in which the property rights holder is located;

(6) Other relevant information.

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

(3) Collect and organize evaluation data

The evaluators collected evaluation data based on the specific circumstances of the evaluation project, including information on the evaluation objects and scope of the evaluation provided by the client or other relevant parties, and other information obtained from government departments, various professional institutions, and the market. And require the client or other relevant parties to confirm the asset valuation details and other important information provided by them.
Appraisers shall verify the materials used in asset appraisal activities in accordance with the law.
The collected evaluation data were analyzed, summarized and organized as necessary to form the basis for evaluation and estimation.

(4) Evaluate estimates and issue evaluation reports

Based on the specific conditions of various types of assets, the appraisers select corresponding formulas and parameters to analyze, calculate and judge according to the selected appraisal method. After evaluating and estimating to form an appraisal conclusion, they prepare a preliminary asset appraisal report. 2. Follow the company's internal asset appraisal report review system and procedures to review the report, communicate with the client on the relevant content of the asset appraisal report without affecting the independent judgment of the appraisal conclusion, conduct an independent analysis of the communication situation, and decide whether to adjust the asset appraisal report. Finally, a formal asset appraisal report is issued.

(5) Organize and collect evaluation files

Prepare asset assessment files and file them in a timely manner in accordance with the company's file management system.

9. Evaluate assumptions

(1) General assumptions

Trading Assumptions

Assuming that all appraisal targets are already in the transaction process, appraisal professionals conduct appraisals based on simulated market conditions such as the trading conditions of the assets being appraised.

open market hypothesis

It means that assets can be bought and sold freely in a fully competitive market, and their prices depend on the value judgments of independent buyers and sellers on the assets under certain market supply conditions.

going concern assumption

It is assumed that the operating activities of an operating entity can continue and the operating activities of the entity will not be suspended or terminated in the foreseeable future.

(2) Special assumptions

There are no major changes in the country's current relevant laws, regulations and policies and the country's macroeconomic situation. There are no major changes in the political, economic and social environment of the regions where the parties to this transaction are located.
It is assumed that the operators of the property-holding units are responsible and that management is capable of fulfilling their duties.
Unless otherwise stated, it is assumed that the title holding units are in full compliance with all relevant laws and regulations.
It is assumed that the accounting policies adopted by the property rights holding unit in the future are basically consistent in important aspects with the accounting policies adopted when preparing this report.

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report 5. It is assumed that cash inflows after the valuation base date are uniform inflows and cash outflows are uniform outflows.

It is assumed that based on the existing management methods and management levels of the enterprise, the business scope and methods remain consistent with the current direction.
There will be no major changes in relevant interest rates, exchange rates, tax bases and tax rates, policy collection fees, etc. 8. There are no other force majeure factors and unforeseeable factors that have a significant adverse impact on the company.

In particular, report users are reminded that according to the requirements of asset valuation, the above assumptions are determined to be true on the valuation base date. The analysis, judgment and conclusion in the asset valuation report are subject to the assumptions and qualifications in the asset valuation report. When the above conditions change, the valuation conclusion will generally be invalid. The asset valuation agency and the asset appraiser will not bear the responsibility for deriving different valuation conclusions due to changes in the assumptions.

10. Evaluation Conclusion

On the valuation base date of December 31, 2025, under the assumptions and limiting conditions listed in this report, the book value of Binzhou Magic's asset group portfolio including goodwill is 52.486 million yuan, and the recoverable amount after assessment using the present value of expected future cash flows is 60.76 million yuan (in capital letters: LU Qianliqi Shilu Wan Yuan).

The conclusions of this asset valuation report are valid for one year, starting from the valuation base date of December 31, 2025, and ending on December 30, 2026. If it exceeds one year, the asset needs to be reassessed.

11. Special Notes

(1) Situations in which main data such as ownership are incomplete or defective

Not found.

(2) Mortgage (pledge), leasing and contingent assets and liabilities

The stores included in this evaluation were all acquired through leasing. During this evaluation, their rents were predicted based on the rents in the lease contracts signed between Binzhou Magic and the lessor.

(3) Uncertain factors such as pending matters and legal disputes

Not found.

(4) Citing report conclusions issued by other institutions

The 2025 financial statements have been audited by BDO Accounting Firm (Special General Partnership), and the audit report has not yet been issued as of the date of the evaluation report.

(5) Major post-period events

Not found.

(6) Relevant situations where the evaluation procedures are restricted, the remedial measures taken by the evaluation agency, and the impact on the evaluation conclusions

None.

(7) Other matters that need explanation

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report

This evaluation uses the financial data of the property holding unit audited by an accounting firm. Asset evaluation professionals analyze and judge the use requirements of financial statements based on the evaluation method adopted. However, it is not the responsibility of asset evaluation professionals to express professional opinions on whether the relevant financial statements fairly reflect the financial status, current operating results, and cash flows on the evaluation base date.
The scope of this assessment uses data, statements and related information provided by the property rights holder. The client and other relevant parties are responsible for the authenticity, completeness and legality of the information they provide. The relevant ownership certification documents and related information involved in the asset appraisal report are provided by the property rights holder, and the client and the property rights holder bear legal responsibility for their authenticity, legality, and completeness.
During the validity period after the valuation base date, if the asset quantity and pricing standards change, the following principles should be followed:

(1) When the amount of assets changes, the amount of assets should be adjusted accordingly according to the original valuation method;

(2) When asset price standards change and have a significant impact on the asset appraisal results, the client should promptly hire a qualified asset appraisal agency to re-determine the appraisal value;

(3) For changes in asset quantity and price standards after the valuation base date, the client should fully consider the changes in the asset quantity and price standards when making the actual valuation of the assets and make corresponding adjustments.

The selection of evaluation methods for this report remains consistent with that of the previous year.
We have obtained the profit forecast provided by the management of Binzhou Miracle, which is one of the main basis for this evaluation report to predict the present value of future cash flows. We conducted the necessary investigation, analysis, and judgment on the profit forecast, and adopted the relevant data of the profit forecast. Our use of this profit forecast is not a guarantee of Binzhou Magic's future profitability.
In this valuation, the asset appraiser did not conduct technical testing on the technical parameters and performance of various equipment on the valuation base date. The asset appraiser obtained this through on-site investigation on the premise that the relevant technical information and operation records provided by the property rights holder are true and valid.
In this evaluation, we referred to and adopted the historical financial statements of the assessed unit and the evaluation base date. Our estimation work relies heavily on the above-mentioned financial statement data and transaction data. We assume that the above-mentioned financial statement data and relevant transaction data are true and reliable. Our estimates rely on the data in these financial statements, which does not represent any guarantee on the accuracy and completeness of such financial information.

12. Restrictions on the use of asset evaluation reports

The conclusions of this report are only valid for the valuation purpose and use stated in this asset valuation report. At the same time, the conclusion of this appraisal reflects the current fair market value of the appraisal object determined in accordance with the principles of the open market for the purpose of this appraisal. It does not take into account the impact of mortgages and guarantees that may be undertaken in the future, as well as the additional prices that special transaction parties may pay, etc. on the asset price. It also does not take into account the impact of changes in national macroeconomic policies and the impact of natural forces and other force majeure on asset prices. When the above conditions and other circumstances such as the going concern principle followed in the assessment change, the assessment conclusion will generally become invalid. The evaluation agency and its evaluators do not bear any legal responsibility for invalidation of evaluation results due to changes in these conditions.

Binzhou Magic Pharmacy Co., Ltd. Asset Group Portfolio Recoverable Amount Asset Assessment Report 2. The prerequisite for the conclusion of this report is that this economic behavior complies with the relevant provisions of national laws and regulations. This asset appraisal report can be officially used only after it has been signed by the appraiser and stamped by the appraisal agency.

If the client or other user of the asset appraisal report fails to use the asset appraisal report in accordance with laws, administrative regulations and the scope of use stated in the asset appraisal report, the asset appraisal agency shall not be held responsible.
Except for the client, other asset appraisal report users agreed in the asset appraisal entrustment contract, and asset appraisal report users specified in laws and administrative regulations, no other institution or individual can become the user of the asset appraisal report.
Users of asset valuation reports should correctly understand the valuation conclusions. The appraisal conclusion is not equivalent to the achievable price of the appraisal object, and the appraisal conclusion should not be considered as a guarantee for the achievable price of the appraisal object.

13. Asset Valuation Report Date

The official conclusion date of this asset assessment report is March 15, 2026.