Unitree IPO Subscription Rate Far Below Changxin Technology's

Unitree Robotics, the first humanoid robot company to list on A-shares, is set to open its IPO subscription on the STAR Market on August 10. The company's offering has drawn intense market attention due to its small float and the "first stock" halo effect.

Brokerages estimate the subscription win rate to be between 0.02% and 0.03%, significantly lower than Changxin Technology's 0.47% win rate. This is largely attributed to the limited free-float shares and the hot sentiment surrounding humanoid robot concepts.

As of 2026, the average first-day gain for new A-share listings has reached 276.04%. If Unitree follows this trend, winning one lot could generate paper profits exceeding 200,000 yuan. In comparison, the average debut gain for STAR Market stocks this year is 466.61%, which would translate into a profit of 351,800 yuan per lot.

The exceptionally low win rate underscores the strong demand and speculative interest in the humanoid robot sector. Investors are eager to grab a piece of the company, which is seen as a pioneer in the domestic robot industry.

While the potential returns are attractive, the low probability of winning highlights the challenge for retail investors. Nevertheless, the IPO is expected to set a benchmark for future robot-related listings on the market.