Unitree's IPO: A Quant's View on the Pricing Game of a 10% Float

Honestly, seeing Unitree's issuance plan, my first reaction was to pull up the float ratio of robot sector IPOs in A-shares over the past three years. 40.446434 million shares accounting for 10% of total share capital is on the lower end in my backtesting database. The median float ratio for new STAR Market stocks over the past three years is 15%, and Unitree is a full 5 percentage points below that median.