94 A-share IPOs in 2026 average 279.22% debut gain, zero breakages; Chaochun Yingcai up over 700%
In 2026, 94 A-share IPOs debuted with first-day closing gains from 21.53% to 1510.52%, averaging 279.22%—up from 259.33% in 2025 and 252.76% in 2024, and far above 2023's 66.45%. The debut performance continued the zero-break trend since 2025, with no IPO closing below issue price. ChiNext firm Chaochun Yingcai surged over 700% on its first day. Monthly averages: Q1 exceeded 100%, April 226.83%, May 499.99%, June 461.59%, July 285.57%, August 264.18%. Historical break rates: 21.41% in 2023, 2% in 2024, zero in 2025.
During the year, a total of 94 new stocks were listed on the A-share market. First-day closing gains ranged from 21.53% to 1510.52%, with an average gain of 279.22%, up from 259.33% in 2025 and 252.76% in 2024, and significantly higher than the 66.45% in 2023.
On a monthly basis, the average first-day gain for new stocks in the first quarter of 2026 exceeded 100%. In April, the average gain was 226.83%, while May and June reached 499.99% and 461.59%, respectively. The gains moderated in the second half, with July and August averaging 285.57% and 264.18%.
New stocks continued their strong first-day performance. No stock listed since the start of 2026 closed below its issue price on debut, extending the 'zero break' record that has been in effect since 2025. Earlier, 21.41% of new stocks listed in 2023 broke their issue price on the first day; the rate fell to 2% in 2024 and reached zero in 2025.
In terms of new stock subscriptions, Yushu Technology's online allotment rate hit a record low for the STAR Market. Although all new stocks this year closed higher on their first day, data show that some stocks broke their issue price after a period of listing.