Huayan Robotics 01021Expected Lots

Huayan Robotics (01021) Expected Lots
Offering Mechanism: 18C | Min Subscription: HK$3,400  |  Public Offering Lots: Pool A 10,098lots / Pool B 10,099lots  |  Offer Price: HK$17.00  |  Lot Size: 200shares  |  Public Offering Size: HK$274.7M
1x14562.0x
Recent first-day return
+4.6%
→
Participants
34,575
→
Avg lots
83.3
→
Oversubscription
143x
143x = 34,575 × 83.3 ÷ 20,197 Robot margin-weighted 100% → 5244.4x
Margin dynamics · 2026-03-25 17:26 Margin multiple4097.15x Margin funds2813.5100M TradeGo forecast multiple5244.36x
Rank Broker Margin funds
1 富途证券富途 1677.4100M
2 辉立证券辉立 558.0100M
3 老虎国际老虎 284.4100M
4 华泰国际华泰 110.7100M
5 华盛证券华盛 51.0100M
6 招银国际招银 36.0100M
7 信诚证券信诚 30.0100M
8 盈立证券盈立 22.3100M
9 熊猫证券熊猫 20.3100M
Margin multiple
TimeMultiple
2026-03-20T06:00:00+08:000
2026-03-20T10:08:17+08:000.004659967962720256
2026-03-20T10:08:23+08:000.02999854376001165
2026-03-20T10:08:34+08:001.0639289354885686
2026-03-20T11:10:19+08:001.127566622979467
2026-03-20T11:10:58+08:001.637541866899665
2026-03-20T11:11:16+08:001.6419105868647152
2026-03-20T11:11:47+08:003.272899373816805
2026-03-20T11:12:08+08:003.287461773700306
2026-03-20T12:06:49+08:003.3374108053007134
2026-03-20T12:07:44+08:003.6663754186689967
2026-03-20T12:08:23+08:003.6832678025338574
2026-03-20T12:10:16+08:004.746322994029416
2026-03-20T13:40:15+08:004.817824377457405
2026-03-20T13:40:46+08:005.193825542449396
2026-03-20T13:41:05+08:005.1967380224260955
2026-03-20T13:41:35+08:005.575360419397117
2026-03-20T14:16:18+08:005.600698995194408
2026-03-20T14:16:34+08:005.626183194990534
2026-03-20T14:16:51+08:005.702198922382409
2026-03-20T14:17:27+08:006.750691713994466
2026-03-20T14:19:56+08:007.307412261540702
2026-03-20T15:16:11+08:007.3362458133100334
2026-03-20T15:17:03+08:007.497160332022717
2026-03-20T15:17:13+08:007.540993155672055
2026-03-20T15:20:19+08:008.19630115042959
2026-03-20T15:24:18+08:008.487549148099607
2026-03-20T16:26:18+08:008.498325324013397
2026-03-20T16:27:16+08:008.64001747487986
2026-03-20T16:27:35+08:009.207951070336392
2026-03-20T16:27:51+08:009.25178389398573
2026-03-20T16:28:55+08:009.353720693170235
2026-03-20T17:06:03+08:009.374399301004805
2026-03-20T17:06:50+08:0010.512742099898063
2026-03-20T17:06:57+08:0013.177661278578709
2026-03-20T18:02:18+08:0013.342653269258774
2026-03-20T18:02:36+08:0013.44459006844328
2026-03-20T18:02:42+08:0020.434542012523664
2026-03-20T18:03:41+08:0021.193971166448232
2026-03-20T18:04:46+08:0022.467453036260377
2026-03-20T18:06:14+08:0022.493665356050677
2026-03-20T18:07:08+08:0025.318770933449834
2026-03-20T18:23:40+08:0026.990097568079218
2026-03-20T20:28:05+08:0027.158875782728995
2026-03-20T20:30:05+08:0027.774865297801078
2026-03-20T20:31:16+08:0029.239551478083587
2026-03-20T20:32:18+08:0031.860783457113733
2026-03-20T20:32:42+08:0034.540265035677876
2026-03-20T22:22:33+08:0035.01791175185671
2026-03-20T22:23:37+08:0035.98893257608854
2026-03-20T22:24:29+08:0039.17809815057522
2026-03-20T22:24:43+08:0043.60506771515946
2026-03-21T10:25:08+08:0046.968108344255135
2026-03-21T10:27:05+08:0047.47356924421145
2026-03-21T10:29:27+08:0047.60011649919907
2026-03-21T10:30:14+08:0047.60011649919907
2026-03-21T10:31:51+08:0062.118829183049364
2026-03-21T10:32:10+08:0063.44400757244794
2026-03-21T12:22:01+08:0063.46745303626037
2026-03-21T12:24:18+08:0063.78345711373235
2026-03-21T12:24:53+08:0064.7953982816368
2026-03-21T12:25:40+08:0067.76612785787098
2026-03-21T12:25:58+08:0069.04761904761905
2026-03-21T15:25:07+08:0069.05999708752002
2026-03-21T15:26:43+08:0069.16339012669287
2026-03-21T15:27:43+08:0070.29532546963739
2026-03-21T15:33:17+08:0074.19804863841561
2026-03-21T15:33:44+08:0075.8581622251347
2026-03-21T18:10:36+08:0075.88160768894714
2026-03-21T18:12:39+08:0076.1651376146789
2026-03-21T18:13:30+08:0077.60652395514781
2026-03-21T18:14:32+08:0081.46555992427552
2026-03-21T18:14:55+08:0082.54317751565458
2026-03-21T20:11:21+08:0082.5503130915975
2026-03-21T20:12:53+08:0082.77224406582205
2026-03-21T20:13:40+08:0083.8610747051114
2026-03-21T20:14:36+08:0084.72025629823796
2026-03-21T20:14:51+08:0086.62793068297655
2026-03-21T22:10:40+08:0086.83690112130479
2026-03-21T22:11:28+08:0087.01412552788699
2026-03-21T22:12:25+08:0089.0528615115771
2026-03-21T22:12:43+08:0091.12072229503423
2026-03-22T10:07:31+08:0091.23969710208242
2026-03-22T10:08:31+08:0091.5944371632445
2026-03-22T10:09:25+08:0094.91568370467454
2026-03-22T10:11:36+08:00104.83267802533858
2026-03-22T10:12:00+08:00106.46366681229067
2026-03-22T12:33:56+08:00108.32765399737877
2026-03-22T12:34:00+08:00112.91480996068152
2026-03-22T12:34:17+08:00113.0515508955876
2026-03-22T12:34:21+08:00114.39318479685453
2026-03-22T12:39:01+08:00114.42900830056793
2026-03-22T12:39:13+08:00114.54973059560216
2026-03-22T12:41:08+08:00114.5623998835008
2026-03-22T12:41:26+08:00114.56443861948449
2026-03-22T15:24:43+08:00115.90417940876657
2026-03-22T15:24:47+08:00117.36041939711664
2026-03-22T15:24:51+08:00120.12727537498179
2026-03-22T15:28:36+08:00120.22440658220475
2026-03-22T15:28:40+08:00120.24027959807776
2026-03-22T15:28:43+08:00120.31920780544634
2026-03-22T15:34:53+08:00121.00509683995922
2026-03-22T15:34:57+08:00121.73409057812728
2026-03-22T15:35:02+08:00122.04019222367846
2026-03-22T15:39:33+08:00122.04543468763653
2026-03-22T15:39:36+08:00122.0519877675841
2026-03-22T15:39:40+08:00122.05766710353866
2026-03-22T19:10:00+08:00125.27595747779235
2026-03-22T19:10:04+08:00128.68355905053153
2026-03-22T19:10:12+08:00131.33391582932867
2026-03-22T19:10:17+08:00135.00364059997088
2026-03-22T19:16:43+08:00135.36347750109218
2026-03-22T19:16:49+08:00136.82161060142712
2026-03-22T19:16:54+08:00137.67977282656182
2026-03-22T19:16:58+08:00138.79146643366826
2026-03-22T19:22:51+08:00138.88539391291684
2026-03-22T19:22:55+08:00139.08038444735692
2026-03-22T19:23:00+08:00139.28513178971895
2026-03-22T19:23:04+08:00139.40541721275667
2026-03-22T19:23:42+08:00139.41095092471238
2026-03-22T19:23:46+08:00139.41866899665064
2026-03-22T19:23:55+08:00139.42565894859473
2026-03-22T19:23:59+08:00139.35590505315275
2026-03-22T22:11:29+08:00143.17125382262998
2026-03-22T22:11:42+08:00147.3943497888452
2026-03-22T22:12:00+08:00152.25819134993446
2026-03-22T22:13:20+08:00153.08766564729868
2026-03-22T22:13:41+08:00153.63331877093344
2026-03-22T22:14:02+08:00155.19397116644822
2026-03-22T22:16:32+08:00155.3277996213776
2026-03-22T22:16:50+08:00155.45449250036407
2026-03-22T22:17:07+08:00155.72287753021698
2026-03-23T08:39:47+08:00156.34454638124362
2026-03-23T08:40:02+08:00160.63113441095092
2026-03-23T08:40:43+08:00160.9343235765254
2026-03-23T08:40:55+08:00161.4405125964759
2026-03-23T08:41:35+08:00182.04630843162954
2026-03-23T08:42:19+08:00182.04630843162954
2026-03-23T09:13:58+08:00182.36114751711082
2026-03-23T09:15:19+08:00184.67001601863987
2026-03-23T09:15:38+08:00195.9995631280035
2026-03-23T09:16:09+08:00196.58205912334353
2026-03-23T09:18:21+08:00196.57754477937965
2026-03-23T09:22:01+08:00201.63069753895442
2026-03-23T10:05:42+08:00211.2379496140964
2026-03-23T10:06:31+08:00217.3165865734673
2026-03-23T10:07:15+08:00217.6834134265327
2026-03-23T10:07:46+08:00238.1727100626183
2026-03-23T10:09:07+08:00240.35707004514344
2026-03-23T10:44:43+08:00244.7257900101937
2026-03-23T11:08:38+08:00245.6161351390709
2026-03-23T11:09:44+08:00249.27231687782145
2026-03-23T11:10:47+08:00249.49381098004952
2026-03-23T11:11:33+08:00267.099752439202
2026-03-23T12:13:25+08:00269.53429445172566
2026-03-23T12:14:10+08:00269.5801660113587
2026-03-23T12:15:23+08:00281.50677151594584
2026-03-23T12:16:15+08:00281.87549148099606
2026-03-23T13:41:08+08:00281.9022862967817
2026-03-23T13:41:51+08:00284.63419251492644
2026-03-23T13:42:55+08:00284.7071501383428
2026-03-23T13:43:29+08:00292.9785932721713
2026-03-23T14:06:20+08:00296.09130624726953
2026-03-23T14:07:06+08:00299.1405271588758
2026-03-23T14:07:52+08:00299.22600844619194
2026-03-23T14:08:20+08:00311.1817387505461
2026-03-23T14:11:45+08:00320.4151740206786
2026-03-23T15:14:09+08:00320.8036988495704
2026-03-23T15:14:55+08:00323.4869666521043
2026-03-23T15:15:28+08:00323.8839376729285
2026-03-23T15:16:40+08:00332.30100480559196
2026-03-23T15:42:02+08:00339.2909567496723
2026-03-23T16:14:21+08:00339.4841997961264
2026-03-23T16:16:35+08:00342.7349643221203
2026-03-23T16:17:16+08:00357.9235474006116
2026-03-23T16:19:36+08:00357.9836901121305
2026-03-23T17:04:07+08:00359.37046745303627
2026-03-23T17:05:53+08:00366.8551041211592
2026-03-23T17:06:29+08:00367.3020241735838
2026-03-23T17:08:06+08:00393.70365516237075
2026-03-23T17:46:53+08:00401.7129750982962
2026-03-23T17:48:01+08:00482.0974224552206
2026-03-23T18:16:51+08:00482.3128003494976
2026-03-23T18:19:02+08:00483.26969564584243
2026-03-23T18:21:05+08:00488.16644823066844
2026-03-23T18:22:08+08:00503.25309450997526
2026-03-23T18:26:51+08:00512.5867190913062
2026-03-23T20:18:19+08:00514.6481724188146
2026-03-23T20:20:15+08:00516.2763943497888
2026-03-23T20:22:09+08:00524.9635940002912
2026-03-23T20:23:15+08:00539.64249308286
2026-03-23T20:23:51+08:00551.9622833843017
2026-03-23T22:10:40+08:00553.8986456968108
2026-03-23T22:11:37+08:00560.6829765545361
2026-03-23T22:12:40+08:00577.4879860200961
2026-03-23T22:13:02+08:00594.1764962865881
2026-03-24T08:36:08+08:00598.6440949468472
2026-03-24T08:36:11+08:00617.20125236639
2026-03-24T08:39:18+08:00618.9222367846221
2026-03-24T08:39:35+08:00623.113877967089
2026-03-24T08:40:40+08:00742.132372214941
2026-03-24T08:44:00+08:00742.132372214941
2026-03-24T09:19:23+08:00742.8026794815786
2026-03-24T09:20:02+08:00749.0116499199067
2026-03-24T09:20:51+08:00750.6896752584826
2026-03-24T09:21:41+08:00783.3531381971749
2026-03-24T09:24:22+08:00794.2749381098005
2026-03-24T09:31:23+08:00810.7873889617009
2026-03-24T10:18:47+08:00821.458133100335
2026-03-24T10:19:23+08:00821.6538517547692
2026-03-24T10:19:56+08:00894.0144167758847
2026-03-24T10:22:23+08:00894.322120285423
2026-03-24T11:00:45+08:00902.1215960390273
2026-03-24T11:03:36+08:00911.7601572739187
2026-03-24T11:04:28+08:00912.6456968108345
2026-03-24T11:06:57+08:00969.045871559633
2026-03-24T12:07:57+08:00976.8361730013106
2026-03-24T12:08:43+08:00977.1671763506625
2026-03-24T12:09:37+08:001030.334498325324
2026-03-24T12:11:23+08:001030.5248288918015
2026-03-24T12:13:53+08:001036.3497888452016
2026-03-24T13:43:54+08:001040.5977865152176
2026-03-24T13:44:46+08:001040.8603465851172
2026-03-24T13:45:22+08:001073.6403087228775
2026-03-24T13:49:11+08:001073.7533129459734
2026-03-24T14:08:28+08:001076.2019804863842
2026-03-24T14:09:08+08:001082.6123489151012
2026-03-24T14:09:48+08:001082.8114169215087
2026-03-24T14:10:21+08:001134.580748507354
2026-03-24T14:14:07+08:001157.157128294743
2026-03-24T15:12:54+08:001157.3473132372214
2026-03-24T15:14:05+08:001158.9564584243483
2026-03-24T15:14:50+08:001212.7208387942333
2026-03-24T15:15:45+08:001227.3551769331586
2026-03-24T16:12:31+08:001238.5248288918015
2026-03-24T16:13:21+08:001238.8143294014853
2026-03-24T16:14:13+08:001300.0346585117227
2026-03-24T16:17:47+08:001336.4406582204747
2026-03-24T17:07:47+08:001347.7852046017183
2026-03-24T17:08:35+08:001348.2517838939857
2026-03-24T17:09:08+08:001427.6314256589485
2026-03-24T17:10:02+08:001442.1938255424493
2026-03-24T17:32:54+08:001653.348623853211
2026-03-24T18:06:36+08:001668.942624144459
2026-03-24T18:07:22+08:001669.4453181884376
2026-03-24T18:08:34+08:001732.0636376874909
2026-03-24T18:12:33+08:001759.7725353138196
2026-03-24T20:23:49+08:001760.901995048784
2026-03-24T20:24:58+08:001784.0581039755352
2026-03-24T20:25:55+08:001851.7732634338138
2026-03-24T20:26:26+08:001911.9305373525558
2026-03-24T22:00:45+08:001990.7131207222951
2026-03-24T22:14:22+08:001991.693607106451
2026-03-24T22:15:16+08:002028.8625309450997
2026-03-24T22:16:14+08:002132.3720693170235
2026-03-25T08:37:42+08:002159.0535896315714
2026-03-25T08:37:45+08:002242.479831076161
2026-03-25T08:39:30+08:002243.150866462793
2026-03-25T08:39:33+08:002246.33129459735
2026-03-25T08:40:52+08:002825.7400611620797
2026-03-25T08:41:44+08:002825.7400611620797
2026-03-25T09:15:22+08:002846.102956167176
2026-03-25T09:16:12+08:002846.102228047182
2026-03-25T09:17:47+08:003033.8989369448086
2026-03-25T09:18:25+08:003057.1987767584096
2026-03-25T09:23:03+08:003125.7056938983546
2026-03-25T09:37:29+08:003130.030726663754
2026-03-25T10:04:19+08:003145.7394786660843
2026-03-25T10:05:39+08:003496.474879860201
2026-03-25T11:11:07+08:004010.5275957477793
2026-03-25T17:26:08+08:004097.15
TradeGo forecast multiple
TimeMultiple
Broker margin funds trend
TimeBrokerMargin funds
Pool A α=
Allocation Strategy Coefficient α
Allocation Strategy Coefficient
Reflects the issuer's allocation preference across different subscription sizes.
α → 0  Per-capita allocation — every allottee receives the same number of shares, regardless of lots subscribed.
α → 1  Proportional allocation — the more lots subscribed, the more shares allotted.
Historical α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0
0.49
Pool B α=
Allocation Strategy Coefficient α
Allocation Strategy Coefficient
Reflects the issuer's allocation preference across different subscription sizes.
α → 0  Per-capita allocation — every allottee receives the same number of shares, regardless of lots subscribed.
α → 1  Proportional allocation — the more lots subscribed, the more shares allotted.
Historical α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0
0.59
This model does not support allocation strategy adjustment

Actual vs Predicted Comparison

Using the actual oversubscription ratio 5059.38x and current allocation strategy (Pool A α=0.493, Pool B α=0.593) as the baseline, comparing actual vs predicted expected allotment lots per tier

Lots Subscription Amount (HKD) Actual Expected Lots Predicted Expected Lots Error

LogoHuayan Robotics Allotment Prediction Matrix

Rows are subscription tiers, columns are different oversubscription ratios, values are expected allotment lots; green indicates guaranteed allotment (≥1 lot)

Pool A

Oversubscription
5244.4x
Allocation Strategy
α=
Allocation Strategy Coefficient α
Allocation Strategy Coefficient
Reflects the issuer's allocation preference across different subscription sizes.
α → 0  Per-capita allocation — every allottee receives the same number of shares, regardless of lots subscribed.
α → 1  Proportional allocation — the more lots subscribed, the more shares allotted.
Historical α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0
0.49

Pool B

Oversubscription
5244.4x
Allocation Strategy
α=
Allocation Strategy Coefficient α
Allocation Strategy Coefficient
Reflects the issuer's allocation preference across different subscription sizes.
α → 0  Per-capita allocation — every allottee receives the same number of shares, regardless of lots subscribed.
α → 1  Proportional allocation — the more lots subscribed, the more shares allotted.
Historical α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0
0.59
Offering Mechanism

18C

HKEX Listing Rule Chapter 18C for specialist technology companies. Mechanisms A and B do not apply. Initial allocation 5%, with clawback: 10x to below 50x → 10%, 50x or above → 20%. At least 50% of total offering shares must be taken up by independent pricing investors in the placing tranche.

Allocation Strategy Coefficient α

α is the issuer's allocation preference coefficient, describing the issuer's allocation tendency across subscription sizes. α ranges [0, 1].

  • α → 0: Per-capita allocation — regardless of lots subscribed, every allottee receives the same number of shares. More favorable to retail (small) applications.
  • α → 1: Proportional allocation — allotted shares are proportional to lots subscribed. More favorable to large applications.
  • Historical actual α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0. α varies widely across IPOs, reflecting each issuer's allocation strategy.
Allotment Rate Definition

The "allotment rate" on this page follows the exact HKEX allotment results announcement definition: Allotment rate = total shares allotted to the tier ÷ total valid shares applied in the tier × 100%. This is the official HKEX standard and is fundamentally different from other definitions used elsewhere (e.g. "ratio of applicants who got allotted").

Expected Allotment Lots

Expected allotment lots = total shares allotted to the tier ÷ lot size ÷ number of applicants in the tier

Example: a tier with 50,000 total allotted shares, 100 shares per lot, and 500 applicants → expected allotment lots = 50,000 ÷ 100 ÷ 500 = 1.0 lots.

// About this page //

This page shows expected-lot forecasts for Huayan Robotics (01021): expected hit rate based on similar-IPO matching and Pool A/B capital-efficiency comparison.
The default oversubscription multiple follows the chain recent first-day return → participant count → average lots per participant → multiple, i.e. multiple = participants × average lots ÷ public-offer lots; participant count and average lots are anchored on the recent IPO median and adjusted by offering size, A+H status, H-share premium/discount, industry, concurrent IPOs, sponsor track record and recent HSI moves.
Early in the subscription window the default multiple relies on the model; as subscription progresses it blends in the margin multiple; near the deadline (roughly 90% through) it follows the margin multiple.
Hit-rate forecasts fit 10,897 allotment-tier records across 356 historical IPOs via regression and KNN similar-IPO matching, estimating expected lots per application tier and applying the allocation-strategy coefficient α (equal-per-person to proportional allocation).
Data sources: HKEXnews public-offer allotment result announcements, prospectuses and FINI announcements; margin data (margin multiple, TradeGo forecast multiple and broker breakdown) comes from 捷利交易宝 (TradeGo), where the margin multiple covers only reporting brokers and the TradeGo forecast multiple is a full-market extrapolation.
The margin multiple updates intraday in real time; the hit-rate model is refreshed as new IPO allotment data is ingested.

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Cibo — HK IPO Allotment Forecasts, Allottee Profiling & Stock Connect