On October 13, 2022, Yunzhongma opened an offline quotation inquiry.

According to the calculation of capital raised disclosed in the prospectus, the estimated issue price is 19.72 yuan. The estimated price-earnings ratio of the issuance is 22.99 times, which is higher than the textile industry's price-earnings ratio of 17.62 times, and below the price-earnings ratio of 23 times the initial IPO on the market.

Using the two trading days before the initial inquiry for this issue began (i.e. October 11, 2022, T-6 (including the same day)) as the benchmark date, the average daily market value of unrestricted A-shares and unrestricted depository receipts in the Shanghai market held by the investment manager of the securities investment fund, basic pension insurance funds, and social security funds managed by the investment manager of the social security fund participating in the preliminary inquiry for this issue should be at least 10 million yuan (inclusive) for the 20 trading days (including the benchmark date).

The average daily market value of unrestricted A-shares and unrestricted depository receipts in the Shenzhen market held by other offline investors participating in this offering and their managed placement targets in the 20 trading days before the benchmark date (including the benchmark date) should be 60 million yuan (inclusive) or more. Taking into account the initial number of shares issued offline and the valuation of the issuer, the sponsor (lead underwriter) set the minimum number of shares to be purchased by each placement object managed by the offline investor to participate in this offline offering at 1 million shares, and the minimum change in the number of proposed purchases was 100,000 shares. In other words, the portion of each placement object managed by the offline investor must be an integer multiple of 100,000 shares, and not more than 3 million shares.