On October 16, 2019, Kangyuan Nak and Jinji Co., Ltd. opened an offline inquiry.

There is no transfer of old shares in Steel Research and Development. According to the estimated capital raised, issuance costs, and number of issues disclosed in the prospectus, it is estimated that the issue price of Steel Kenneco will be 4.50 yuan, corresponding to a price-earnings ratio of 22.98 times, below the monthly average price-earnings ratio of the furniture manufacturing industry of 31.10 times, and below the price-earnings ratio of 23 times the red line of price-earnings ratio.

There are no transfers of old shares of Pheasant Stock. According to the estimated capital raised, issuance costs, and number of issues disclosed in the prospectus, the estimated issue price of Pheasant shares is 5.53 yuan, corresponding price-earnings ratio of 22.95 times, higher than the monthly average price-earnings ratio of the chemical raw materials and chemical products manufacturing industry of 17.12 times, below the price-earnings ratio of 23 times the red line.