Evaluation Process

The assessment process is a standardized and systematic working framework whose core objective is to ensure the objectivity, fairness, and accuracy of assessment results through standardized procedures.
I. Commissioning Coordination and Project Initiation Phase (Preliminary Preparation, Clarifying Boundaries)
(1) Initial Contact: Requirements Communication and Risk Assessment
1. Clearly define the four core elements: assessment purpose, assessment subject, assessment base date, report usage and delivery requirements, risk identification, compliance risks, technical risks, industry risks, and preliminary response (either feasible to proceed to the next stage; or, if not feasible, provide a written explanation of the reasons).
(2) Sign a formal entrustment contract:
1. Assignment of rights and responsibilities, definition of service scope, service fees and payment methods, timelines, confidentiality clauses, liability for breach of contract, and standards for contract signing.
(3) Project Approval and Team Formation
1. Project approval, team staffing, project leader, on-site surveyors, data analysts, report writers, and preliminary training.

II. Data Collection and Analysis Phase (Foundational Support, Data Fidelity)
(1) Preparation and Delivery of the Document List
1. Customized lists, document receipt, and verification.
(2) Industry Research and Market Data Collection
1. Industry background analysis, core data collection, and validation of data sources based on the evaluation methods to be adopted subsequently.

III. On-site Inspection and Inventory Phase (Physical Verification, Reconciliation of Books and Actual Inventory)
(1) Development of the On-site Investigation Plan
1. Scheme content and tool preparation.
(2) On-site Survey and Documentation (Operated by Type)
1. Quantity verification, status assessment, ownership verification, and interview-based research.
(3) Verification and Supplementary Investigation of Exploration Results
1. On-site verification, supplementary site investigation, and consolidation of investigation data.

IV. Value Estimation and Method Validation Phase (Core Operations, Professional Modeling)
(1) Selection of Assessment Methods (Compliance + Adaptation)
1. Justification for method selection and explanation of method exclusion criteria.
(2) Determination of Key Parameters (Scientific + Evidence-Based)
1. Key parameters of the income approach, discount rate, selection of comparable cases, and depreciation rate.
(3) Value Estimation and Model Validation
1. Modeling and estimation, cross-validation, sensitivity analysis, and error correction.

V. Report Writing and Review Phase (Outcome Delivery, Compliance Oversight)
(1) Drafting the initial report (standardized + complete)
(2) Multi-level internal review (quality control)
1. Three-level review and approval hierarchy.
(3) Communicate preliminary conclusions with the client.
1. Communication methods and handling of opinions.
(4) Finalizing and Signing the Report
1. Final draft, appraiser’s signature, institutional seal, and attachments.

6. Report Delivery and Follow-up Service Phase (Implementation of Results, After-Sales Support)
(1) Report Delivery and Receipt
1. Delivery format, paper reports, contractual agreements, electronic reports, and the acknowledgment process.
(2) Document Archiving (Compliance Retention)
1. Commissioning phase, data collection phase, on-site investigation phase, calculation phase, reporting phase, and archiving requirements.

VII. Supplementary Notes on Process Differences Across Different Assessment Scenarios
1. Valuation of state-owned assets (prior to valuation, “project approval and filing” must be completed—apply to the state-owned asset supervision and administration department); the report becomes effective only after being “approved or filed” by the state-owned asset authority). Mining rights valuation (first, a “Resource Reserve Verification Report” must be issued by a geological exploration agency—filed with the natural resources department); considerations include mining rights transfer revenues, resource taxes, and other related levies). Intangible asset valuation (a “substantive review” of technical achievements is required—for example, assessing the novelty and practicality of patents; market application conditions must also be investigated—for instance, revenue from licensed use).