IPO Timeline Raw facts
Company Overview
| Stock Name | Robotphoenix |
|---|---|
| Stock Code | 06871 |
| Company Full Name | Robotphoenix Intelligent Technology Co., Ltd. |
| Industry | Robotics |
| Principal Activities | extension of our existing operations, either in the form of supporting our existing domestic customers in their overseas expansion or as further development of our current overseas operations |
| Listing Date | 2026-05-18 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | Chapter 18C |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | Building E, Digital Economy Industrial Park (Nanwan Zhigu) No. 1261, Jinhai Avenue Yuhuan Economic Development Zone Yuhuan, Taizhou Zhejiang Province PRC Headquarters and Principal Place of Building E |
| Business Address (Hong Kong) | 香港 銅鑼灣 希慎道33號 利園一期 19樓1912室 |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | robotphoenix.com |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | (852)2980 1333 |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | 18C |
|---|---|
| Offer Price | HK$ 30.50 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 3,050 |
| Par Value | RMB 0.25 / shares |
| Offer Period | 2026-05-08 to 2026-05-13 |
| Global Offering Shares | 24,600,000 shares |
| HK Public Offer Shares (Initial) | 1,230,000 shares (5.0%) |
| Public Offer Lots (Initial) | 12,300lots (Pool A6,150lots，Pool B6,150lots) |
| International Placing Shares (Initial) | 23,370,000 shares (95.0%) |
| Offer Ratio | ~10.04% |
| Total Shares Post-IPO | 244,953,968 shares |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | No cornerstone investors |
| Clawback Tiers | Clawback tier B |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 750,300,000 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 3,050 |
| 2 lots | 200 | HK$ 6,100 |
| 3 lots | 300 | HK$ 9,150 |
| 4 lots | 400 | HK$ 12,200 |
| 5 lots | 500 | HK$ 15,250 |
| 6 lots | 600 | HK$ 18,300 |
| 7 lots | 700 | HK$ 21,350 |
| 8 lots | 800 | HK$ 24,400 |
| 9 lots | 900 | HK$ 27,450 |
| 10 lots | 1,000 | HK$ 30,500 |
| 15 lots | 1,500 | HK$ 45,750 |
| 20 lots | 2,000 | HK$ 61,000 |
| 25 lots | 2,500 | HK$ 76,250 |
| 30 lots | 3,000 | HK$ 91,500 |
| 35 lots | 3,500 | HK$ 106,750 |
| 40 lots | 4,000 | HK$ 122,000 |
| 45 lots | 4,500 | HK$ 137,250 |
| 50 lots | 5,000 | HK$ 152,500 |
| 60 lots | 6,000 | HK$ 183,000 |
| 70 lots | 7,000 | HK$ 213,500 |
| 80 lots | 8,000 | HK$ 244,000 |
| 90 lots | 9,000 | HK$ 274,500 |
| 100 lots | 10,000 | HK$ 305,000 |
| 200 lots | 20,000 | HK$ 610,000 |
| 300 lots | 30,000 | HK$ 915,000 |
| 400 lots | 40,000 | HK$ 1,220,000 |
| 500 lots | 50,000 | HK$ 1,525,000 |
| 600 lots | 60,000 | HK$ 1,830,000 |
| 700 lots | 70,000 | HK$ 2,135,000 |
| 800 lots | 80,000 | HK$ 2,440,000 |
| 900 lots | 90,000 | HK$ 2,745,000 |
| 1,000 lots | 100,000 | HK$ 3,050,000 |
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 2,000 lots | 200,000 | HK$ 6,100,000 |
| 3,000 lots | 300,000 | HK$ 9,150,000 |
| 4,000 lots | 400,000 | HK$ 12,200,000 |
| 5,000 lots | 500,000 | HK$ 15,250,000 |
| 6,150 lots | 615,000 | HK$ 18,757,500 |
Stock Connect Inclusion Analysis
| 26Q4 Regular Review | |
| Inclusion Pathway | Regular Path |
|---|---|
| HK Market Cap | HK$ 5.66B |
| Est. Threshold | HK$ 9.44B |
| Analysis Result | HK market cap below threshold, need +67% |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 7,471,096,024 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not applicable (loss-making) |
| Profit/Loss Status | Net loss RMB 152.9 million |
| Period-End Cash Balance | RMB 51.1 million |
| Listing Expenses | ~HK$ 77,400,000 |
| Listing Expenses / Funds Raised | ~10.3% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | Loading... |
|---|---|
| First Day Open | HK$ -- |
| First Day Change | 75.57% |
| Use of Proceeds | 1、約40.0%（或269.2百萬港元）將于2026年至2030年用于機器人技術的開發；
2、約28.0%（或188.4百萬港元）將用于2026年至2030年的生產基地及生產線建設或優化；
3、約12.0%（或80.7百萬港元）將用于2026年至2030年發展海外業務網絡；
4、約10.0%（或67.3百萬港元）將用于2026年至2030年供應鏈上下游的投資；
5、約10.0%（或67.3百萬港元）將用于2026年至2030年補充營運資金。 |
Underwriting Syndicate
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
贝克‧麦坚时律师事务所 北京国枫律师事务所 金杜律师事务所 |
| Legal Advisor to Sponsors/Underwriters |
竞天公诚律师事务所有限法律责任合伙 竞天公诚律师事务所 |
| Auditor and Reporting Accountant | 安永会计师事务所 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| Receiving Banks |
招商永隆银行有限公司 中国农业银行股份有限公司香港分行 |
Cornerstone Investors
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | Dr. Zhang Sai | Dr. Zhang Sai |
| Company Secretary | Ms. Yang Xu | Ms. Yang Xu |
| Executive Director | 张赛 | Zhang Sai |
| Non-Executive Director | 李笙凯 | Lee Shen Kai |
| Independent Non-Executive Director | 熊明华 | Xiong Minghua |
| Executive Director | 张子超 | Zhang Zichao |
| Non-Executive Director | 王麦克 | Wang Maike |
| Independent Non-Executive Director | 周爽 | Zhou Shuang |
| Executive Director | 孙同亮 | Sun Tongliang |
| Non-Executive Director | 宋鹏飞 | Song Pengfei |
| Independent Non-Executive Director | 赵凤梅 | Zhao Fengmei |
| Executive Director | 窦志远 | Dou Zhiyuan |
| Independent Non-Executive Director | 吴庆耀 | Wu Qingyao |
Major Shareholders
| Major Shareholders & Holdings | Dr. Zhang directly holds 10.05% of the shares and holds 12.50% of the shares through a controlled corporation, for a total of 22.55%; 紹興梓遒 holds 7.88%; 玉環國投 and 玉環投資 hold 14.43% in total; 寬帶誠柏 holds 7.81%; and 上海峰瑞 holds 5.79%. |
|---|
Market Sentiment
The IPO recorded an extraordinary oversubscription ratio of 14,855.4x, indicating a frenzied market appetite unseen in typical offerings. The overall hit rate of just 14.72% meant fierce competition for allocations, with most applicants receiving no shares. Such extreme demand suggests strong bullish conviction around 翼菲科技, though the absence of price range data limits further pricing dynamics analysis. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
At the top of the public allocation tiers, A-tail applicants (100,000 lots) received an expected 0.21 lots versus 0.40 lots for B-head (200,000 lots)—a marginal increase that does not scale with the doubled capital commitment. This narrow gap makes A-tail more capital-efficient on paper, especially after accounting for broker margin costs. The lottery-like fractions underscore the extreme over-subscription, with even the largest retail orders securing negligible allocations. (This is AI-generated commentary based on historical data. Data may contain errors from source documents. Broker fee structures vary; actual costs may differ. Not financial advice.)
Demographics
Mainland Chinese investors dominated with a 62.2% participation rate, highlighting strong cross-border interest in this 18C tech specialist. The male-skewed gender split (60.9% male) and average age of 42.3 point to an experienced, likely professional investor base. Regional concentration was not provided, but such high mainland involvement often correlates with outsized demand from Guangdong and nearby provinces. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
