COMP <GO>

AMBO vs ZNB // EV/EBITDA & P/E VALUATION

Ambow Education Holding Ltd. American Depository Shares (each representing twenty (20) ) (Class A) (NYSE) VS. Zeta Network Group (Class A) (NASDAQ) • 15-METRIC TALLY: AMBO 6 — ZNB 1

■ METRIC PARITY

AMBO — Ambow Education Holding Ltd. American Depository Shares (each representing twenty (20) ) (Class A) ROARABLE D • RQD 44/100

LAST: $1.55 (0.00%) • MKT CAP: $4.4M

DES <GO> FA <GO> 10-K RED <GO>

valuation

10.1x

ZNB — Zeta Network Group (Class A) ROARABLE D- • RQD 43/100

LAST: $0.51 (-1.87%) • MKT CAP: $2.6M

DES <GO> FA <GO> 10-K RED <GO>

valuation

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15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (AMBO VS. ZNB) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	AMBO	ZNB	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	54.80%	-2.90%	+57.70	AMBO	/gross-margins <GO>
Return on Invested Capital (ROIC)	0.90%	—	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	10.1x	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	-10.44%	—	—	TIE	/fcf-yield <GO>
Operating Margin	1.20%	-52.20%	+53.40	AMBO	/operating-margins <GO>
Net Profit Margin	14.40%	-60.00%	+74.40	AMBO	/net-margins <GO>
Revenue Growth (YoY)	0.80%	180.00%	-179.20	ZNB	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	6/9	2/9	+4.00	AMBO	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	26.9	23.8	+3.10	AMBO	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$4.4M	$2.6M	$1.9M	AMBO	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	AMBO REV	ZNB REV	AMBO GROSS %	ZNB GROSS %	AMBO FCF	ZNB FCF
FY 2025	$9.5M	$8.7M	54.8%	-2.9%	-$463.0K	-$11.7M
FY 2024	$9.4M	$107.8K	53.1%	87.0%	$435.0K	-$2.8M
FY 2023	$9.2M	$0	—	—	—	-$7.9M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

AMBO // BETA —

ZNB // BETA —