December 01, 2020 Tongxing Environmental Protection opened offline inquiry.

Tongxing environmental protection without the transfer of old shares. According to the funds raised in the prospectus, it is estimated that Tongxing Environmental Protection's offering price is 40.11, with an estimated price-to-earnings ratio of 22.99 times, which is lower than the one-month average price-to-earnings ratio of 25.37 times for the ecological protection and environmental management industry and below the red line of 23 times earnings. Take the two trading days before the initial inquiry date of this issue (that is, November 30, 2020, T6 (inclusive)) as the base date. The securities investment funds, basic old-age insurance funds and social security funds managed by investment managers of social security funds that participate in the preliminary inquiry of this issue shall have an average daily market value of more than 10 million yuan (inclusive) for unrestricted A shares and unrestricted depositary receipts in Shenzhen market 20 trading days before the benchmark date. The average daily market value of unrestricted A shares and unrestricted depositary receipts held by other investors participating in this issue and their managed allotment targets in Shenzhen market 20 trading days before the benchmark date shall be more than 60 million yuan (inclusive). Taking into account the number of initial offerings off the net and the valuation of issuers by sponsor institutions (lead underwriters) during this preliminary inquiry stage, sponsor institutions (lead underwriters) set the minimum number of shares to be purchased for each allotment object managed by investors under the net at 1.5 million shares, and the minimum number of units to be purchased is set at 100000 shares. In other words, the number of shares to be purchased by each placing object managed by offline investors must be an integral multiple of 100000 shares, and the number of shares to be purchased by each placing object must not exceed 4 million shares at most.