On December 3, Hubei Zhonglian Assets Appraisal Co., Ltd. released a specialized appraisal report (Zhonglian Pingbao Zi [2025] No. 1299). This report evaluates the proprietary technology for preparing photoinitiators in photoresists, along with the ownership of experimental equipment, all currently held by Hubei Three Gorges Laboratory and targeted for acquisition by Hubei Xingfu Electronic Materials Co., Ltd. The report establishes that, as of the appraisal benchmark date, October 31, 2025, the combined market value, inclusive of taxes, stands at 46.2678 million yuan. This valuation serves as a crucial reference point for the conversion of technological achievements into commercial assets and the subsequent asset acquisition process.
