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IPO Pricing | Benmo Technology listed today, with subscription oversubscribed by 208.56 times. The offer price was set at HK$21.6 per share, and the allotment rate for one lot was 60%.

Futu News, September 29, $DIRECT DRIVE (06731.HK)$ announced the allotment results. The offer price was set at HK$21.6 per share, with a total issuance of 50 million shares. Each lot consists of 100 shares, and the stock officially listed today.
On the previous trading day, Benmo Technology's grey market closing price rose by 4.26% to HK$22.52. With 100 shares per lot and excluding fees, the profit per lot was HK$92.
During the public offering phase, Benmo Technology was oversubscribed by 208.56 times. The final number of shares offered in the public tranche was 10 million, accounting for approximately 20.00% of the total offering. A total of approximately 43,933 valid applications were received, with about 36,052 applications accepted. The approximate percentage of allotted shares for one-lot applications relative to the total applied shares was 60.00%.
Additionally, during the international placement phase, Benmo Technology was oversubscribed by 2.72 times. The final number of shares in the international tranche was 40 million, equivalent to 80.00% of the total offering. Futu has compiled the relevant data in the table below:
Futu News, September 29, $DIRECT DRIVE (06731.HK)$ announced the allotment results. The offer price was set at HK$21.6 per share, with a total issuance of 50 million shares. Each lot consists of 100 shares, and the stock officially listed today. On the previous trading day, Benmo Technology's grey market closing price rose by 4.26% to HK$22.52. With 100 shares per lot and excluding fees, the profit per lot was HK$92. During the public offering phase, Benmo Technology was oversubscribed by 208.56 times. The final number of shares offered in the public tranche was 10 million, accounting for approximately 20.00% of the total offering. A total of approximately 43,933 valid applications were received, with about 36,052 applications accepted. The approximate percentage of allotted shares for one-lot applications relative to the total applied shares was 60.00%. Additionally, during the international placement phase, Benmo Technology was oversubscribed by 2.72 times. The final number of shares in the international tranche was 40 million, equivalent to 80.00% of the total offering. Futu has compiled the relevant data in the table below: Company Overview Benmo Technology is a robotics technology company with direct drive technology as its core competency. The company primarily engages in the sale of robotic power modules in China, followed by the sale of robots. The company operates in the following industries: (i) the consumer robotic power module industry in China, which is a segment accounting for 26.3% of China's robotic power module industry; and (ii) the wheeled-legged and bipedal robot industries in China...
Futu News, September 29, $DIRECT DRIVE (06731.HK)$ announced the allotment results. The offer price was set at HK$21.6 per share, with a total issuance of 50 million shares. Each lot consists of 100 shares, and the stock officially listed today. On the previous trading day, Benmo Technology's grey market closing price rose by 4.26% to HK$22.52. With 100 shares per lot and excluding fees, the profit per lot was HK$92. During the public offering phase, Benmo Technology was oversubscribed by 208.56 times. The final number of shares offered in the public tranche was 10 million, accounting for approximately 20.00% of the total offering. A total of approximately 43,933 valid applications were received, with about 36,052 applications accepted. The approximate percentage of allotted shares for one-lot applications relative to the total applied shares was 60.00%. Additionally, during the international placement phase, Benmo Technology was oversubscribed by 2.72 times. The final number of shares in the international tranche was 40 million, equivalent to 80.00% of the total offering. Futu has compiled the relevant data in the table below: Company Overview Benmo Technology is a robotics technology company with direct drive technology as its core competency. The company primarily engages in the sale of robotic power modules in China, followed by the sale of robots. The company operates in the following industries: (i) the consumer robotic power module industry in China, which is a segment accounting for 26.3% of China's robotic power module industry; and (ii) the wheeled-legged and bipedal robot industries in China...
Company Overview
Benmo Technology is a robotics technology company with direct-drive technology as its core competency. The company primarily engages in the sale of robotic power modules in China, followed by the sale of robots. It operates in the following sectors: (i) the consumer robotic power module market in China, which accounts for 26.3% of China's robotic power module industry; and (ii) the wheeled-legged and two-wheeled-legged robot market in China, which accounts for less than 1.0% of China's robotics industry.
The company's revenue is derived from the sale of robotic power modules and robots. Its business model centers on the development and commercialization of advanced robotic power modules and robots, covering consumer, industrial/commercial, and embodied intelligence application scenarios. From its inception to June 30, 2026, the company's robotics technology has empowered over 7.5 million robots, spanning consumer and industrial/commercial applications, as well as embodied intelligent robots.
Financial Overview
Benmo Technology's revenue increased significantly from RMB 17.5 million in 2023 to RMB 79.8 million in 2024, and further rose to RMB 281.7 million in 2025; for the six months ended June 30, 2025 and 2026, the company's revenue was RMB 143.3 million and RMB 200.3 million, respectively.
For the years 2023, 2024, and 2025, as well as for the six months ended June 30, 2025 and 2026, the Company's gross profits were RMB 2.4 million, RMB 15.4 million, RMB 60.6 million, RMB 26.5 million, and RMB 41.4 million, respectively, with corresponding gross profit margins of 13.5%, 19.3%, 21.5%, 18.5%, and 20.7%.
For the years 2023, 2024, and 2025, as well as for the six months ended June 30, 2025 and 2026, the Company's net losses were RMB 75.6 million, RMB 93.7 million, RMB 881.0 million, RMB 32.6 million, and RMB 390.7 million, respectively.
Source: Prospectus
Source: Prospectus
Use of Proceeds
Regarding the use of proceeds, the net proceeds from Benmo Technology's global offering amounted to approximately HK$983 million (based on an offer price of HK$21.60). According to the prospectus, Benmo Technology intends to use the funds raised from the global offering for the following purposes:
Approximately 50.0% will be used to enhance the Company's R&D capabilities in key robotics technologies; approximately 20.0% will be used to deepen cooperation with industry partners and expand the sales network; approximately 20.0% will be used to improve the Company's production capacity and efficiency; and approximately 10.0% will be used for working capital and general corporate purposes.
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Futu News, September 29, $DIRECT DRIVE (06731.HK)$ announced the allotment results. The offer price was set at HK$21.6 per share, with a total issuance of 50 million shares. Each lot consists of 100 shares, and the stock officially listed today. On the previous trading day, Benmo Technology's grey market closing price rose by 4.26% to HK$22.52. With 100 shares per lot and excluding fees, the profit per lot was HK$92. During the public offering phase, Benmo Technology was oversubscribed by 208.56 times. The final number of shares offered in the public tranche was 10 million, accounting for approximately 20.00% of the total offering. A total of approximately 43,933 valid applications were received, with about 36,052 applications accepted. The approximate percentage of allotted shares for one-lot applications relative to the total applied shares was 60.00%. Additionally, during the international placement phase, Benmo Technology was oversubscribed by 2.72 times. The final number of shares in the international tranche was 40 million, equivalent to 80.00% of the total offering. Futu has compiled the relevant data in the table below: Company Overview Benmo Technology is a robotics technology company with direct drive technology as its core competency. The company primarily engages in the sale of robotic power modules in China, followed by the sale of robots. The company operates in the following industries: (i) the consumer robotic power module industry in China, which is a segment accounting for 26.3% of China's robotic power module industry; and (ii) the wheeled-legged and bipedal robot industries in China...
Edited by/Joe
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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