Margin dynamics Margin multiple1071.89x Margin funds1311.9100M TradeGo forecast multiple1382.74x
Rank Broker Margin funds
1 富途证券富途 876.2100M
2 辉立证券辉立 187.0100M
3 老虎国际老虎 120.4100M
4 华泰国际华泰 39.8100M
5 招银国际招银 21.0100M
6 华盛证券华盛 16.5100M
7 盈立证券盈立 13.8100M
8 信诚证券信诚 10.0100M
9 长桥证券长桥 7.0100M
Margin multiple
TimeMultiple
2026-04-09T06:00:00+08:000
2026-04-09T10:12:18+08:000.16341204346760357
2026-04-09T10:12:31+08:000.21635754555110712
2026-04-09T10:12:41+08:000.7610098864286298
2026-04-09T10:13:08+08:002.460495138491707
2026-04-09T11:01:25+08:002.5557643598333195
2026-04-09T11:07:35+08:004.092572922624397
2026-04-09T11:08:27+08:0011.16014380259825
2026-04-09T12:14:06+08:0011.177465479205818
2026-04-09T12:15:04+08:0012.064466051147969
2026-04-09T12:15:22+08:0017.048533376909877
2026-04-09T13:44:43+08:0017.059727101887407
2026-04-09T13:44:57+08:0018.055314976713785
2026-04-09T13:45:57+08:0022.54914617207288
2026-04-09T14:06:33+08:0022.569654383528064
2026-04-09T14:07:08+08:0022.800473894926057
2026-04-09T14:08:15+08:0027.449546531579376
2026-04-09T14:09:31+08:0027.93978266198219
2026-04-09T14:10:46+08:0028.966173707002206
2026-04-09T14:12:02+08:0030.22460985374622
2026-04-09T15:17:08+08:0030.246670479614348
2026-04-09T15:17:28+08:0035.40232045101724
2026-04-09T15:18:02+08:0035.7730206716235
2026-04-09T15:18:43+08:0035.873355666312605
2026-04-09T16:10:39+08:0036.99477081460903
2026-04-09T16:10:51+08:0037.62627665658959
2026-04-09T16:11:13+08:0041.67889533458616
2026-04-09T16:12:25+08:0041.99330010621783
2026-04-09T16:13:29+08:0042.81036032355585
2026-04-09T17:07:28+08:0042.956287278372415
2026-04-09T17:08:25+08:0043.895416292180734
2026-04-09T17:08:56+08:0043.99019527739194
2026-04-09T17:10:08+08:0047.3483127706512
2026-04-09T18:05:03+08:0047.48002287768608
2026-04-09T18:06:06+08:0047.42626031538524
2026-04-09T18:06:19+08:0048.16096086281559
2026-04-09T18:06:42+08:0053.259416619004824
2026-04-09T18:07:05+08:0063.71778740093145
2026-04-09T18:08:49+08:0064.83846719503228
2026-04-09T18:16:58+08:0065.14895007762073
2026-04-09T22:29:51+08:0068.7848680447749
2026-04-09T22:29:55+08:0072.290056377155
2026-04-09T22:29:59+08:0074.47977775962089
2026-04-09T22:30:03+08:0076.35084565732494
2026-04-09T22:33:16+08:0077.36375520875889
2026-04-09T22:33:20+08:0078.0991094043631
2026-04-09T22:33:25+08:0078.60037584769998
2026-04-09T22:33:29+08:0079.6690906119781
2026-04-09T22:35:47+08:0079.89754064874582
2026-04-09T22:35:51+08:0080.13538687801291
2026-04-09T22:35:55+08:0080.19266279924831
2026-04-09T22:35:59+08:0080.31628401013154
2026-04-09T22:41:13+08:0080.40411798349538
2026-04-10T08:40:27+08:0080.79312035297
2026-04-10T08:40:36+08:0080.85489010540077
2026-04-10T08:41:17+08:0080.85489010540077
2026-04-10T08:41:26+08:0082.19830051474794
2026-04-10T08:41:35+08:0082.43541138981944
2026-04-10T08:42:08+08:0095.0998447585587
2026-04-10T09:07:10+08:0095.12174197238336
2026-04-10T09:07:32+08:0095.24299370863632
2026-04-10T09:07:46+08:0095.5682653811586
2026-04-10T09:08:58+08:0097.85603398970504
2026-04-10T09:10:37+08:00100.15581338344636
2026-04-10T10:05:31+08:00100.23670234496282
2026-04-10T10:05:48+08:00100.4377808644497
2026-04-10T10:06:06+08:00105.96110793365472
2026-04-10T10:07:42+08:00106.96012746139391
2026-04-10T10:08:18+08:00108.10401176566712
2026-04-10T11:11:30+08:00108.11937249775309
2026-04-10T11:12:12+08:00108.22689762235477
2026-04-10T11:12:23+08:00109.141188005556
2026-04-10T11:12:51+08:00116.24144129422338
2026-04-10T11:36:45+08:00117.30361957676281
2026-04-10T12:09:50+08:00119.0017158264564
2026-04-10T12:10:16+08:00119.14421112836015
2026-04-10T12:10:27+08:00120.30402810687147
2026-04-10T12:11:02+08:00125.45967807827437
2026-04-10T13:40:39+08:00125.61369392924259
2026-04-10T13:41:02+08:00125.78405098455757
2026-04-10T13:41:14+08:00126.16643516627175
2026-04-10T13:41:37+08:00129.63077048778496
2026-04-10T14:13:24+08:00129.6987498978675
2026-04-10T14:14:02+08:00129.72914453795244
2026-04-10T14:14:17+08:00130.0981289321023
2026-04-10T14:15:35+08:00134.3795244709535
2026-04-10T14:18:32+08:00136.43598333197156
2026-04-10T15:15:55+08:00136.53288667374787
2026-04-10T15:16:32+08:00142.34218481902116
2026-04-10T15:16:42+08:00143.69589018710678
2026-04-10T15:17:52+08:00143.7115777432797
2026-04-10T16:25:31+08:00144.6920500040853
2026-04-10T16:25:53+08:00144.69213171010705
2026-04-10T16:26:15+08:00145.76779148623254
2026-04-10T16:26:35+08:00149.84492197074925
2026-04-10T16:27:34+08:00149.85922052455265
2026-04-10T16:59:27+08:00157.21276248059482
2026-04-10T17:19:06+08:00157.18016177792305
2026-04-10T17:19:24+08:00162.90775390146254
2026-04-10T17:20:30+08:00162.98978674728326
2026-04-10T17:20:42+08:00164.41171664351663
2026-04-10T17:46:31+08:00185.0016341204347
2026-04-10T18:02:16+08:00185.06021733801782
2026-04-10T18:03:46+08:00186.992319633957
2026-04-10T18:06:43+08:00187.26472751041752
2026-04-10T18:07:12+08:00187.70357055314977
2026-04-10T18:07:31+08:00190.75120516382057
2026-04-10T22:39:38+08:00191.61753411226408
2026-04-10T22:39:42+08:00191.85080480431407
2026-04-10T22:39:47+08:00192.47217909959963
2026-04-10T22:39:51+08:00193.05016749734455
2026-04-10T22:45:37+08:00195.20720647111693
2026-04-10T22:45:41+08:00197.99338181223956
2026-04-10T22:45:45+08:00201.53125255331318
2026-04-10T22:45:49+08:00204.83217583135877
2026-04-10T22:46:09+08:00204.93610589100416
2026-04-10T22:46:13+08:00204.93651442111283
2026-04-10T22:46:17+08:00204.92809870087424
2026-04-10T22:46:21+08:00204.92156221913555
2026-04-10T22:48:02+08:00204.9412533703734
2026-04-11T10:22:20+08:00219.21529536726857
2026-04-11T10:22:24+08:00222.9574311626767
2026-04-11T10:22:28+08:00225.9642127624806
2026-04-11T10:24:20+08:00226.5314976713784
2026-04-11T10:26:55+08:00227.6067489173952
2026-04-11T10:26:59+08:00229.5301086690089
2026-04-11T10:27:02+08:00229.59906855135225
2026-04-11T10:27:06+08:00229.85873028842227
2026-04-11T10:27:23+08:00229.93177547185226
2026-04-11T10:27:26+08:00229.94076313424299
2026-04-11T10:29:33+08:00229.94076313424299
2026-04-11T11:27:37+08:00234.883977449138
2026-04-11T11:28:33+08:00234.95898357708964
2026-04-11T11:28:56+08:00235.4793692295122
2026-04-11T11:29:16+08:00235.4877849497508
2026-04-11T12:34:11+08:00235.49791649644578
2026-04-11T12:35:04+08:00237.33630198545632
2026-04-11T12:35:47+08:00237.4295285562546
2026-04-11T12:36:02+08:00237.7899338181224
2026-04-11T13:05:52+08:00239.71819593104013
2026-04-11T13:06:09+08:00239.78331563036195
2026-04-11T13:06:26+08:00240.29920745158918
2026-04-11T13:07:13+08:00240.30206716234986
2026-04-11T15:08:32+08:00242.10777024266687
2026-04-11T15:08:57+08:00245.09821063812402
2026-04-11T15:09:34+08:00245.11152871966664
2026-04-11T15:09:45+08:00245.1143884304273
2026-04-11T15:10:17+08:00245.51188822616226
2026-04-11T15:10:32+08:00245.7167252226489
2026-04-11T15:12:55+08:00245.7285725958003
2026-04-11T15:13:04+08:00245.73102377645233
2026-04-11T18:06:29+08:00247.52855625459597
2026-04-11T18:06:41+08:00249.26072391535257
2026-04-11T18:06:54+08:00250.7722853174279
2026-04-11T18:07:22+08:00250.84590244301006
2026-04-11T18:07:30+08:00250.85946564261786
2026-04-11T18:07:39+08:00250.8665740665087
2026-04-11T18:11:22+08:00250.87057766157366
2026-04-11T18:11:31+08:00250.8762153770733
2026-04-11T18:11:38+08:00250.87433613857343
2026-04-11T18:12:59+08:00251.37797205654056
2026-04-11T18:13:11+08:00251.78347904240542
2026-04-11T18:13:22+08:00252.00065364817388
2026-04-11T22:52:02+08:00254.2884222567203
2026-04-11T22:52:06+08:00255.35060053925974
2026-04-11T22:52:11+08:00256.33924340223876
2026-04-11T22:52:16+08:00257.376909878258
2026-04-11T22:59:37+08:00257.62210964948116
2026-04-11T22:59:41+08:00257.9859465642618
2026-04-11T22:59:46+08:00258.61042568837325
2026-04-11T22:59:50+08:00258.76828172236293
2026-04-11T23:02:54+08:00258.7812729798186
2026-04-12T10:19:55+08:00260.99722199526104
2026-04-12T10:21:11+08:00261.0137266116513
2026-04-12T10:22:13+08:00261.1264809216439
2026-04-12T10:22:48+08:00272.9738540730452
2026-04-12T10:23:03+08:00276.5444072228123
2026-04-12T13:12:11+08:00278.05694909714845
2026-04-12T13:13:56+08:00278.07819266279927
2026-04-12T13:14:32+08:00283.43810768853666
2026-04-12T13:14:47+08:00287.0495138491707
2026-04-12T16:23:41+08:00287.06593675953917
2026-04-12T16:24:11+08:00287.8347087180325
2026-04-12T16:25:11+08:00293.18645314159653
2026-04-12T16:25:30+08:00295.95628727837243
2026-04-12T18:18:28+08:00295.9644578805458
2026-04-12T18:19:51+08:00298.17681183103196
2026-04-12T18:20:45+08:00301.77187678731923
2026-04-12T18:20:58+08:00306.1349783479042
2026-04-12T20:07:57+08:00306.13881853092573
2026-04-12T20:08:52+08:00308.16627175422826
2026-04-12T20:09:25+08:00311.9084075496364
2026-04-12T20:09:39+08:00315.80578478633873
2026-04-12T22:11:05+08:00317.75038810360326
2026-04-12T22:12:14+08:00322.85701446196583
2026-04-12T22:12:31+08:00329.05033090938804
2026-04-13T08:43:49+08:00331.00424871313015
2026-04-13T08:43:57+08:00335.42225672032026
2026-04-13T08:44:52+08:00335.42225672032026
2026-04-13T08:45:19+08:00369.64073862243646
2026-04-13T09:15:24+08:00371.6516872293488
2026-04-13T09:15:57+08:00387.4127788217992
2026-04-13T09:16:45+08:00387.33523980717376
2026-04-13T09:17:38+08:00390.19495056785684
2026-04-13T09:19:08+08:00396.9130647928752
2026-04-13T10:02:46+08:00397.0848925565814
2026-04-13T10:04:01+08:00398.6604297736743
2026-04-13T10:05:28+08:00427.1022959392107
2026-04-13T11:09:07+08:00427.43614674401505
2026-04-13T11:09:48+08:00431.78045591960125
2026-04-13T11:10:22+08:00450.6382057357627
2026-04-13T11:13:36+08:00455.31636571615326
2026-04-13T11:45:25+08:00456.5419560421603
2026-04-13T12:02:42+08:00456.64098374050167
2026-04-13T12:09:00+08:00457.12051638205736
2026-04-13T12:09:32+08:00458.85431816324865
2026-04-13T12:10:30+08:00471.33899828417356
2026-04-13T13:46:40+08:00471.3426750551516
2026-04-13T13:47:07+08:00473.14780619331646
2026-04-13T13:47:45+08:00489.13767464662146
2026-04-13T13:48:05+08:00490.7717950812975
2026-04-13T13:48:26+08:00491.04354930958414
2026-04-13T14:08:14+08:00491.3389165781518
2026-04-13T14:08:55+08:00492.2541874336139
2026-04-13T14:09:14+08:00503.52144783070514
2026-04-13T14:09:58+08:00503.51948688618353
2026-04-13T14:10:56+08:00508.0322738785849
2026-04-13T15:11:18+08:00508.42568837323313
2026-04-13T15:11:40+08:00522.756924585342
2026-04-13T15:12:23+08:00524.69368412452
2026-04-13T16:05:19+08:00538.08530108669
2026-04-13T16:05:41+08:00539.2586812648092
2026-04-13T16:06:36+08:00539.5017566794672
2026-04-13T17:11:32+08:00552.7626440068633
2026-04-13T17:11:57+08:00552.9331644742217
2026-04-13T17:12:18+08:00555.2235476754637
2026-04-13T17:28:58+08:00556.8086444970994
2026-04-13T17:30:46+08:00622.1734618841408
2026-04-13T17:32:16+08:00632.795244709535
2026-04-13T18:12:47+08:00632.8310319470545
2026-04-13T18:13:40+08:00634.5529046490726
2026-04-13T18:14:22+08:00644.4311626766893
2026-04-13T18:15:51+08:00647.1326905792957
2026-04-13T20:32:35+08:00647.1951139799003
2026-04-13T20:37:15+08:00650.760928180407
2026-04-13T20:37:35+08:00659.3155486559359
2026-04-13T20:37:49+08:00668.0989459923196
2026-04-13T22:09:26+08:00671.0933899828417
2026-04-13T22:10:05+08:00685.0079254841082
2026-04-13T22:10:21+08:00699.0858730288422
2026-04-14T08:35:16+08:00701.215131955225
2026-04-14T08:35:24+08:00713.176811831032
2026-04-14T08:36:22+08:00713.176811831032
2026-04-14T08:37:44+08:00837.0513113816488
2026-04-14T09:02:00+08:00838.2670969850478
2026-04-14T09:03:41+08:00842.3796061769752
2026-04-14T09:05:03+08:00852.2786175341123
2026-04-14T09:07:05+08:00896.3916986681918
2026-04-14T09:26:10+08:00898.4343492115369
2026-04-14T10:07:51+08:00986.1294223384264
2026-04-14T10:08:33+08:00991.5987417272653
2026-04-14T11:06:46+08:00992.5276574883569
2026-04-14T13:45:45+08:001048.9048124846802
2026-04-14T13:48:33+08:001055.4412942233844
2026-04-14T16:28:18+08:001071.89
TradeGo forecast multiple
TimeMultiple
Broker margin funds trend
TimeBrokerMargin funds
Prediction Model 1-Lot Expected Lots— Lots for expected 1-lot allotment—
Multiple derivation
Recent first-day return
+4.6%
→
Participants
17,325
→
Avg lots
79.4
→
Oversubscription
43x
43x = 17,325 × 79.4 ÷ 32,124 margin-weighted 100% → 1382.7x
1x8170.0x
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
0.54
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
0.64
This model does not support allocation strategy adjustment

Actual vs Predicted Comparison

Using the actual oversubscription ratio 1590.56x and current allocation strategy (Pool A α=0.544, Pool B α=0.644) as the baseline, comparing actual vs predicted expected allotment lots per tier

Lots Subscription Amount (HKD) Actual Expected Lots Predicted Expected Lots Error

LogoManycore Tech 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 Manycore Tech (00068): 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 22087 allotment-tier records across 592 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). You can override the oversubscription multiple and the allocation-method α right on the page, replacing cibo's defaults to see expected lots under your own scenario. 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.

Cibo — HK IPO Allotment Forecasts, Allottee Profiling & Stock Connect