4. The Issuer and its sponsor institution shall conduct the preliminary price inquiry with at least 20 inquiry targets， and shall determine the issue price range and its corresponding range of price-earnings ratio on the basis of the prices quoted by the inquiry targets.

　　An inquiry target shall quote a price independently on the basis of a comprehensive research on the intrinsic investment value of the Issuer and the market conditions， and shall provide the basis for and result of the quotation to the sponsor institution at the same time. Both the preliminary price inquiry and the quotation shall be made in writing.

　　If the number of shares to be offered to the public is 400 million or more， there shall be no less than 50 inquiry targets participating in the preliminary price inquiry.

　　5. After the issue price range has been determined， the Issuer and its sponsor institution shall conduct a book-building price inquiry within such range among the inquiry targets and determine the issue price on the basis of the results of the book-building price inquiry. All inquiry targets that meet the provisions hereof may participate in the book-building price inquiry. (来源：英语图片 http://photo.englishcn.com)

　　After the issue price range， issue price and corresponding issue price-earnings ratio have been determined， the Issuer and its sponsor institution shall file them separately with the CSRC and make an announcement thereof. The basis for determination of the issue price shall be filed for record and announced at the same time. (来源：英语问答中心 http://ask.englishcn.com)

　　6. The Issuer and its sponsor institution shall offer shares in rights issue to the inquiry targets that participated in the book-building price inquiry. If the number of shares to be offered to the public is less than 400 million， the rights issue shall not exceed 20% of the total number of shares offered. If the number of shares to be offered to the public is 400 million or more， the rights issue shall not exceed 50% of the total number of shares offered. (来源：英语美食指南 http://food.englishcn.com)

　　Subject to the approval of the CSRC， the Issuer and its sponsor institution may adjust the aforementioned percentage according to the market conditions.

(来源：EnglishCN英语博客基地)

　　7. After the book-building price inquiry has been completed， if the total amount of valid purchase above the issue price is greater than the total number of shares to be offered in rights issue to the inquiry targets， the Issuer and its sponsor institution shall offer shares in rights issue on a pro rata basis for all valid purchase above the issue price. The percentage of the rights issue shall be the number of shares to be offered in the rights issue to the inquiry targets divided by the total amount of valid purchase above the issue price. The criteria for valid purchase shall be expressly specified in the issue announcement. (来源：EnglishCN英语问答中心[e问e答])

　　The sponsor institution shall verify and confirm the qualification of inquiry targets， and shall not offer shares in the rights issue to investors that do not comply with the provisions hereof and other relevant regulations. (来源：EnglishCN英语博客基地)

　　8. After the book-building price inquiry and rights issue have been completed， the Issuer and its sponsor institution shall publish an announcement of the results of the rights issue. The announcement of the results of the rights issue shall include at least the following particulars：

(来源：专业英语学习网站 http://www.EnglishCN.com)

　　（1） particulars of the book-building price inquiry， including： the amount of valid purchase of all inquiry targets at different price levels， the accumulative amount of valid purchase above different price levels and the corresponding number of times over-subscribed； the total amount of purchase and the total amount of funds on hold； (来源：专业英语学习网站 http://www.EnglishCN.com)

　　（2） the percentage of the rights issue and the number of times over-subscribed of the valid purchase above the issue price； and (来源：最老牌的英语学习网站 EnglishCN.com)

　　（3） the list of inquiry targets to whom shares are offered in the rights issue， the amount of shares offered and the amount of funds refunded.