HEMAY PHARMA-B 00054Hong Kong Stock ExchangeIPOExpected Lots

15.500 - 18.900
Price range · Lists Nov 9
Expected Allotment via Similar IPO Matching
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Margin dynamics Margin multiple0.95x Margin funds993410K TradeGo forecast multiple2.1x
Rank Broker Margin funds
1 辉立证券辉立 800010K
2 华泰国际华泰 51510K
3 盈立证券盈立 46910K
4 华盛证券华盛 31010K
5 富途证券富途 26410K
6 长桥证券长桥 16410K
7 熊猫证券熊猫 10310K
8 老虎国际老虎 4510K
9 致富证券致富 3410K
10 信诚证券信诚 3010K
Margin multiple
TimeMultiple
2026-10-30T06:00:00+08:000
2026-10-30T10:10:53+08:000.0011499760421657883
2026-10-30T10:11:00+08:000.0
2026-10-30T11:08:37+08:000.021657882127455678
2026-10-30T11:09:04+08:000.02434115955917585
2026-10-30T11:09:11+08:000.024628653569717298
2026-10-30T11:09:45+08:000.03881169142309535
2026-10-30T11:09:52+08:000.05
2026-10-30T12:08:01+08:000.058361284139913754
2026-10-30T12:08:44+08:000.07
2026-10-30T13:09:02+08:000.07752755150934355
2026-10-30T13:09:48+08:000.07
2026-10-30T14:04:44+08:000.15946334451365596
2026-10-30T14:05:21+08:000.1595591758505031
2026-10-30T14:06:38+08:000.1628174413033062
2026-10-30T14:07:03+08:000.17
2026-10-30T15:03:45+08:000.17287973167225681
2026-10-30T15:04:33+08:000.17441303306181122
2026-10-30T15:04:59+08:000.17450886439865837
2026-10-30T15:06:04+08:000.17096310493531386
2026-10-30T15:06:21+08:000.17
2026-10-30T16:15:20+08:000.17172975563009105
2026-10-30T16:16:25+08:000.17
2026-10-30T17:07:22+08:000.17335888835649257
2026-10-30T17:08:06+08:000.17355055103018688
2026-10-30T17:08:36+08:000.12180162913272641
2026-10-30T17:12:37+08:000.12
2026-10-30T17:49:21+08:000.89
2026-10-30T18:07:43+08:000.8914230953521801
2026-10-30T18:08:15+08:000.8916147580258744
2026-10-30T18:12:39+08:000.94
2026-10-30T19:48:00+08:000.94
2026-10-30T20:10:02+08:000.9417345471969334
2026-10-30T20:10:22+08:000.94
2026-10-30T22:18:06+08:000.942117872544322
2026-10-30T22:18:16+08:000.95
TradeGo forecast multiple
TimeMultiple
2026-10-30T06:00:00+08:000
2026-10-30T10:11:00+08:000.0
2026-10-30T11:09:52+08:000.12
2026-10-30T12:08:44+08:000.17
2026-10-30T13:09:48+08:000.17
2026-10-30T14:07:03+08:000.38
2026-10-30T15:06:21+08:000.37
2026-10-30T16:16:25+08:000.38
2026-10-30T17:12:37+08:000.27
2026-10-30T17:49:21+08:001.96
2026-10-30T18:12:39+08:002.07
2026-10-30T19:48:00+08:002.08
2026-10-30T20:10:22+08:002.08
2026-10-30T22:18:16+08:002.1
Broker margin funds trend
TimeBrokerMargin funds
2026-10-30T06:00:00+08:00辉立证券0
2026-10-30T17:49:21+08:00辉立证券80000000.0
2026-10-30T18:12:39+08:00辉立证券80000000.0
2026-10-30T19:48:00+08:00辉立证券80000000.0
2026-10-30T20:10:22+08:00辉立证券80000000.0
2026-10-30T22:18:16+08:00辉立证券80000000.0
2026-10-30T06:00:00+08:00华泰国际0
2026-10-30T18:12:39+08:00华泰国际5150000.0
2026-10-30T19:48:00+08:00华泰国际5150000.0
2026-10-30T20:10:22+08:00华泰国际5150000.0
2026-10-30T22:18:16+08:00华泰国际5150000.0
2026-10-30T06:00:00+08:00盈立证券0
2026-10-30T10:10:53+08:00盈立证券120000.0
2026-10-30T10:11:00+08:00盈立证券120000.0
2026-10-30T11:08:37+08:00盈立证券2160000.0
2026-10-30T11:09:52+08:00盈立证券2160000.0
2026-10-30T12:08:44+08:00盈立证券4130000.0
2026-10-30T13:09:48+08:00盈立证券4180000.0
2026-10-30T14:06:38+08:00盈立证券4520000.0
2026-10-30T14:07:03+08:00盈立证券4520000.0
2026-10-30T15:03:45+08:00盈立证券4570000.0
2026-10-30T15:06:21+08:00盈立证券4570000.0
2026-10-30T16:15:20+08:00盈立证券4640000.0
2026-10-30T16:16:25+08:00盈立证券4640000.0
2026-10-30T17:12:37+08:00盈立证券4640000.0
2026-10-30T17:49:21+08:00盈立证券4640000.0
2026-10-30T18:07:43+08:00盈立证券4650000.0
2026-10-30T18:12:39+08:00盈立证券4650000.0
2026-10-30T19:48:00+08:00盈立证券4690000.0
2026-10-30T20:10:22+08:00盈立证券4690000.0
2026-10-30T22:18:16+08:00盈立证券4690000.0
2026-10-30T06:00:00+08:00华盛证券0
2026-10-30T14:04:44+08:00华盛证券8500000.0
2026-10-30T14:07:03+08:00华盛证券8500000.0
2026-10-30T15:06:21+08:00华盛证券8500000.0
2026-10-30T16:16:25+08:00华盛证券8500000.0
2026-10-30T17:08:36+08:00华盛证券3100000.0
2026-10-30T17:12:37+08:00华盛证券3100000.0
2026-10-30T17:49:21+08:00华盛证券3100000.0
2026-10-30T18:12:39+08:00华盛证券3100000.0
2026-10-30T19:48:00+08:00华盛证券3100000.0
2026-10-30T20:10:22+08:00华盛证券3100000.0
2026-10-30T22:18:16+08:00华盛证券3100000.0
2026-10-30T06:00:00+08:00富途证券0
2026-10-30T11:09:52+08:00富途证券2000000.0
2026-10-30T12:08:44+08:00富途证券2000000.0
2026-10-30T13:09:48+08:00富途证券2000000.0
2026-10-30T14:07:03+08:00富途证券3000000.0
2026-10-30T15:06:04+08:00富途证券2630000.0
2026-10-30T15:06:21+08:00富途证券2640000.0
2026-10-30T16:16:25+08:00富途证券2640000.0
2026-10-30T17:12:37+08:00富途证券2640000.0
2026-10-30T17:49:21+08:00富途证券2640000.0
2026-10-30T18:12:39+08:00富途证券2640000.0
2026-10-30T19:48:00+08:00富途证券2640000.0
2026-10-30T20:10:22+08:00富途证券2640000.0
2026-10-30T22:18:16+08:00富途证券2640000.0
2026-10-30T06:00:00+08:00长桥证券0
2026-10-30T11:09:45+08:00长桥证券1480000.0
2026-10-30T11:09:52+08:00长桥证券1480000.0
2026-10-30T12:08:44+08:00长桥证券1480000.0
2026-10-30T13:09:48+08:00长桥证券1480000.0
2026-10-30T14:07:03+08:00长桥证券1480000.0
2026-10-30T15:04:33+08:00长桥证券1640000.0
2026-10-30T15:06:21+08:00长桥证券1640000.0
2026-10-30T16:16:25+08:00长桥证券1640000.0
2026-10-30T17:12:37+08:00长桥证券1640000.0
2026-10-30T17:49:21+08:00长桥证券1640000.0
2026-10-30T18:12:39+08:00长桥证券1640000.0
2026-10-30T19:48:00+08:00长桥证券1640000.0
2026-10-30T20:10:22+08:00长桥证券1640000.0
2026-10-30T22:18:16+08:00长桥证券1640000.0
2026-10-30T06:00:00+08:00熊猫证券0
2026-10-30T22:18:16+08:00熊猫证券1030000.0
2026-10-30T06:00:00+08:00老虎国际0
2026-10-30T10:11:00+08:00老虎国际100000.0
2026-10-30T11:09:11+08:00老虎国际130000.0
2026-10-30T11:09:52+08:00老虎国际130000.0
2026-10-30T12:08:01+08:00老虎国际170000.0
2026-10-30T12:08:44+08:00老虎国际170000.0
2026-10-30T13:09:02+08:00老虎国际200000.0
2026-10-30T13:09:48+08:00老虎国际200000.0
2026-10-30T14:05:21+08:00老虎国际210000.0
2026-10-30T14:07:03+08:00老虎国际210000.0
2026-10-30T15:04:59+08:00老虎国际220000.0
2026-10-30T15:06:21+08:00老虎国际220000.0
2026-10-30T16:16:25+08:00老虎国际300000.0
2026-10-30T17:07:22+08:00老虎国际390000.0
2026-10-30T17:12:37+08:00老虎国际390000.0
2026-10-30T17:49:21+08:00老虎国际390000.0
2026-10-30T18:08:15+08:00老虎国际410000.0
2026-10-30T18:12:39+08:00老虎国际410000.0
2026-10-30T19:48:00+08:00老虎国际410000.0
2026-10-30T20:10:22+08:00老虎国际430000.0
2026-10-30T22:18:06+08:00老虎国际450000.0
2026-10-30T22:18:16+08:00老虎国际450000.0
2026-10-30T06:00:00+08:00致富证券0
2026-10-30T11:09:04+08:00致富证券280000.0
2026-10-30T11:09:52+08:00致富证券280000.0
2026-10-30T12:08:44+08:00致富证券280000.0
2026-10-30T13:09:48+08:00致富证券280000.0
2026-10-30T14:07:03+08:00致富证券280000.0
2026-10-30T15:06:21+08:00致富证券280000.0
2026-10-30T16:16:25+08:00致富证券280000.0
2026-10-30T17:08:06+08:00致富证券300000.0
2026-10-30T17:12:37+08:00致富证券300000.0
2026-10-30T17:49:21+08:00致富证券300000.0
2026-10-30T18:12:39+08:00致富证券300000.0
2026-10-30T19:48:00+08:00致富证券300000.0
2026-10-30T20:10:02+08:00致富证券340000.0
2026-10-30T20:10:22+08:00致富证券340000.0
2026-10-30T22:18:16+08:00致富证券340000.0
2026-10-30T06:00:00+08:00信诚证券0
2026-10-30T17:12:37+08:00信诚证券300000.0
2026-10-30T17:49:21+08:00信诚证券300000.0
2026-10-30T18:12:39+08:00信诚证券300000.0
2026-10-30T19:48:00+08:00信诚证券300000.0
2026-10-30T20:10:22+08:00信诚证券300000.0
2026-10-30T22:18:16+08:00信诚证券300000.0
Prediction Model 1-Lot Expected Lots— Lots for expected 1-lot allotment—
Multiple derivation
Recent first-day return
0.0%
→
Participants
3,259
→
Avg lots
58.7
→
Oversubscription
3x
3x = 3,259 × 58.7 ÷ 55,210
1x9583.0x
Allocation Strategy Coefficient α
Allocation Strategy Coefficient
Reflects the issuer's allocation preference across different subscription sizes.
α → 0  Per-capita allocation — every allottee receives the same number of shares, regardless of lots subscribed.
α → 1  Proportional allocation — the more lots subscribed, the more shares allotted.
Historical α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0
0.77
Allocation Strategy Coefficient α
Allocation Strategy Coefficient
Reflects the issuer's allocation preference across different subscription sizes.
α → 0  Per-capita allocation — every allottee receives the same number of shares, regardless of lots subscribed.
α → 1  Proportional allocation — the more lots subscribed, the more shares allotted.
Historical α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0
0.87
This model does not support allocation strategy adjustment

LogoHEMAY PHARMA-B Allotment Prediction Matrix

Rows are subscription tiers, columns are different oversubscription ratios, values are expected allotment lots; green indicates expected ≥1 lot. Non-preset multiples are interpolated from the nearest grid points.

Offering Mechanism

Mechanism B

Flexible offering mechanism under HKEX Practice Note 18. Minimum initial allocation to the public offer tranche is 10% of offering shares, with no clawback mechanism. Maximum initial allocation is 60% (as at least 40% of total offering shares must be allocated to the placing tranche, excluding cornerstones).

Allocation Strategy Coefficient α

α is the issuer's allocation preference coefficient, describing the issuer's allocation tendency across subscription sizes. α ranges [0, 1].

  • α → 0: Per-capita allocation — regardless of lots subscribed, every allottee receives the same number of shares. More favorable to retail (small) applications.
  • α → 1: Proportional allocation — allotted shares are proportional to lots subscribed. More favorable to large applications.
  • Historical actual α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0. α varies widely across IPOs, reflecting each issuer's allocation strategy.
Allotment Rate Definition

The "allotment rate" on this page follows the exact HKEX allotment results announcement definition: Allotment rate = total shares allotted to the tier ÷ total valid shares applied in the tier × 100%. This is the official HKEX standard and is fundamentally different from other definitions used elsewhere (e.g. "ratio of applicants who got allotted").

Expected Allotment Lots

Expected allotment lots = total shares allotted to the tier ÷ lot size ÷ number of applicants in the tier

Example: a tier with 50,000 total allotted shares, 100 shares per lot, and 500 applicants → expected allotment lots = 50,000 ÷ 100 ÷ 500 = 1.0 lots.

About this page

This page shows expected-lot forecasts for HEMAY PHARMA-B (00054): expected hit rate based on similar-IPO matching and Pool A/B capital-efficiency comparison.
The default oversubscription multiple follows the chain recent first-day return → participant count → average lots per participant → multiple, i.e. multiple = participants × average lots ÷ public-offer lots; participant count and average lots are anchored on the recent IPO median and adjusted by offering size, A+H status, H-share premium/discount, industry, concurrent IPOs, sponsor track record and recent HSI moves.
Early in the subscription window the default multiple relies on the model; as subscription progresses it blends in the margin multiple; near the deadline (roughly 90% through) it follows the margin multiple.
Hit-rate forecasts fit 11369 allotment-tier records across 288 historical IPOs via regression and KNN similar-IPO matching, estimating expected lots per application tier and applying the allocation-strategy coefficient α (equal-per-person to proportional allocation). How allotment rates and clawback work is explained in How Hong Kong IPO Allotment Rates Work.
Data sources: HKEXnews public-offer allotment result announcements, prospectuses and FINI announcements; margin data (margin multiple, TradeGo forecast multiple and broker breakdown) comes from 捷利交易宝 (TradeGo), where the margin multiple covers only reporting brokers and the TradeGo forecast multiple is a full-market extrapolation.
The margin multiple updates intraday in real time; the hit-rate model is refreshed as new IPO allotment data is ingested.

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