Yushu Technology's New Stock Experiences "Grey Market" Trading, with a Highest Bid of ¥520 per Share, Approximately 3.45 Times the Issue Price

BlockBeats News, August 17th. Yushu Technology (688836.SH), which has not yet officially listed, has already seen early trading activity surrounding this hot new stock. Recently, multiple posts have appeared on second-hand trading platforms such as Xianyu regarding the acquisition and sale of Yushu Technology's IPO shares. Some intermediaries even refer to such transactions as "grey market" deals.

A post with an asking price of 500,000 RMB shows that an investor is selling Yushu Technology's IPO shares and describes it as the "first stock of humanoid robot industry leader on the Science and Technology Innovation Board." The seller's displayed securities account screenshot shows that after applying for 6,000 shares, they were allotted 500 shares. Based on Yushu Technology's IPO price of 150.80 RMB per share, the allotted shares would require a subscription payment of 75,400 RMB.

Currently, several intermediaries have already acquired Yushu Technology's IPO shares through different channels. Market prices vary significantly, with some intermediaries quoting 520 RMB per share, approximately 3.45 times the IPO price, while others quote 410 RMB per share, around 2.72 times the IPO price.

In this online initial public offering, Yushu Technology only issued 6.471 million shares. Calculated based on 500 shares per allotment, there are only about 12,900 successful allotment numbers in the entire market. Due to the limited issuance size, high market attention, and investors' high expectations for its performance after listing, some intermediaries and investors have begun to attempt trading IPO shares before the official listing.

However, several market participants, including securities firms and mutual funds, have stated that they have not heard of any "grey market" trading in the past regarding IPO subscriptions on the Science and Technology Innovation Board. The private acquisition of newly issued shares currently seen in the A-share market essentially involves informal verbal agreements that are not legally protected. As a result, such transactions carry significant compliance and performance risks.