China's 'First Humanoid Robot IPO' Sparks New Wave of Frenzy, Investors Pray Online for Allotment

While the buzz around ChangXin Technology (688825-CN) has yet to fade, a new star IPO has emerged. Unitree Technology, hailed as China's 'first humanoid robot listed company,' announced on Thursday evening its offering price of CNY 150.8 per share, corresponding to a price-to-earnings ratio of 219.23 times at issuance.

According to Unitree Technology's listing schedule: preliminary bookbuilding was held on August 5, subscription date is August 10, and payment date is August 12.

As reported by 'First Finance,' Unitree's IPO采用了 a hybrid model combining strategic placement, offline (institutional) allocation, and online (retail) issuance. The company will publicly issue 40.4464 million shares, representing 10% of the total shares post-issuance.

The initial strategic placement volume is 8.0893 million shares, accounting for 20% of the total offering. Before the clawback mechanism is triggered, the initial offline issuance volume is 25.8861 million shares, approximately 80% of the shares available after deducting the strategic portion. In contrast, the initial online issuance volume is only 6.4710 million shares, about 20% of the remaining shares.

Given Unitree's relatively small offering size and its 'first-mover' status, investors widely believe that securing an allotment will be extremely difficult—especially compared to ChangXin Technology's relatively high 0.47% allotment rate.

So far this year, 13 new listings have occurred on the STAR Market. Excluding ChangXin, the other 12 IPOs had allotment rates hovering around 0.02% to 0.03%. Many investors expect Unitree's rate to fall within this narrow range.

Since winning the lottery is largely a matter of luck, many investors have turned to superstition, flooding online communities with 'prayer posts' for good fortune.

On Unitree's stock forum, threads titled 'Pray for Allotment' have piled up, with messages like 'May I win one lot—let all my dreams come true,' 'Please let me win just once!' and 'If I win, I will definitely buy a robot.'

On Xiaohongshu, one user even posted about scraping together CNY 500,000 to open a STAR Market trading account, having missed ChangXin and now fearing they'll miss Unitree too. Numerous stock bloggers are actively sharing 'new share subscription strategies' and predicting potential profits per winning lot.