Sicc 02631Expected Lots

Sicc (02631) Expected Lots
Offering Mechanism: Mechanism B | Min Subscription: HK$4,280  |  Public Offering Lots: Pool A 23,872lots / Pool B 23,873lots  |  Offer Price: HK$42.80  |  Lot Size: 100shares  |  Public Offering Size: HK$204.4M
1x4893.0x
Recent first-day return
-0.2%
→
Participants
13,669
→
Avg lots
52.7
→
Oversubscription
15x
15x = 13,669 × 52.7 ÷ 47,746 A+H secondary · participants ×0.45 H-share discount 40.6% margin-weighted 100% → 2927.3x
Margin dynamics · 2025-08-15 17:04 Margin multiple2439.43x Margin funds2492.5100M TradeGo forecast multiple2927.32x
Rank Broker Margin funds
1 富途证券富途 1464.4100M
2 辉立证券辉立 500.0100M
3 老虎国际老虎 218.3100M
4 华泰国际华泰 110.7100M
5 信诚证券信诚 60.0100M
6 华盛证券华盛 58.8100M
7 招银国际招银 35.0100M
8 耀才证券耀才 28.0100M
10 TradeGo MarketsTradeGo 6.9100M
11 长桥证券长桥 5.4100M
12 盈立证券盈立 2.8100M
13 卓锐证券 1.5100M
14 艾德证券艾德 525010K
15 盈宝证券盈宝 106210K
Margin multiple
TimeMultiple
2025-08-11T06:00:00+08:000
2025-08-11T10:04:34+08:000.3615188882364455
2025-08-11T10:15:57+08:000.8410647876296731
2025-08-11T11:03:02+08:000.8877471129379526
2025-08-11T11:03:26+08:000.9856136230182032
2025-08-11T11:14:35+08:002.894010569583089
2025-08-11T11:54:36+08:003.3751223331376004
2025-08-11T12:11:44+08:003.6522802896848696
2025-08-11T12:11:54+08:005.580250538265806
2025-08-11T13:39:18+08:006.034742611078489
2025-08-11T13:39:22+08:006.943726756703856
2025-08-11T13:40:09+08:007.62879232726561
2025-08-11T13:40:21+08:007.726658837345861
2025-08-11T14:01:12+08:008.215893521237033
2025-08-11T14:04:03+08:008.471129379526326
2025-08-11T14:22:13+08:009.13662164807203
2025-08-11T15:05:39+08:009.13671951458211
2025-08-11T15:05:42+08:009.145527500489333
2025-08-11T15:06:26+08:0010.47651203758074
2025-08-11T16:25:26+08:0011.096887844979449
2025-08-11T16:25:58+08:0011.615580348404777
2025-08-11T17:02:53+08:0011.616265413975338
2025-08-11T17:06:39+08:0011.909864944216089
2025-08-11T17:47:24+08:0016.411724407907613
2025-08-11T17:57:37+08:0016.705323938148364
2025-08-11T18:01:37+08:0017.6020747700137
2025-08-11T18:02:14+08:0017.654629085926796
2025-08-11T18:10:09+08:0018.406635349383443
2025-08-11T18:10:28+08:0018.905754550792718
2025-08-11T20:32:05+08:0019.806126443531024
2025-08-11T20:32:21+08:0020.324818946956352
2025-08-11T22:06:03+08:0020.628205128205128
2025-08-12T08:34:18+08:0020.62830299471521
2025-08-12T08:34:21+08:0020.628596594245447
2025-08-12T08:34:24+08:0020.62889019377569
2025-08-12T08:35:25+08:0020.72675670385594
2025-08-12T08:35:28+08:0023.104912898806027
2025-08-12T08:36:36+08:0023.104912898806027
2025-08-12T09:01:45+08:0023.744959874730867
2025-08-12T09:02:47+08:0023.748776668623996
2025-08-12T09:05:48+08:0024.032589547856723
2025-08-12T09:09:13+08:0025.01125464865923
2025-08-12T09:32:11+08:0025.510373850068508
2025-08-12T09:33:20+08:0025.96486592288119
2025-08-12T09:48:36+08:0025.971325112546488
2025-08-12T10:13:43+08:0028.040516735173224
2025-08-12T10:13:49+08:0029.63574084948131
2025-08-12T11:12:30+08:0030.643765903307887
2025-08-12T11:52:53+08:0031.10589156390683
2025-08-12T12:07:27+08:0031.250733998825602
2025-08-12T12:07:38+08:0032.10217263652378
2025-08-12T13:45:50+08:0032.60129183793306
2025-08-12T14:24:45+08:0033.05069485222157
2025-08-12T14:24:51+08:0033.98042669798395
2025-08-12T14:37:55+08:0035.21657858680759
2025-08-12T14:38:28+08:0041.088569191622625
2025-08-12T15:06:27+08:0042.74251321197886
2025-08-12T15:35:01+08:0042.77294969661382
2025-08-12T16:20:46+08:0043.441280093951846
2025-08-12T16:20:52+08:0044.899491094147585
2025-08-12T16:21:00+08:0044.88432178508514
2025-08-12T17:08:33+08:0044.89577216676453
2025-08-12T17:08:37+08:0045.338030925817186
2025-08-12T17:08:50+08:0045.866510080250535
2025-08-12T17:09:17+08:0048.34253278528087
2025-08-12T17:09:27+08:0052.257193188490895
2025-08-12T17:49:38+08:0052.489528283421414
2025-08-12T18:03:14+08:0052.591113720884714
2025-08-12T18:03:20+08:0052.62076727343903
2025-08-12T18:07:25+08:0054.79340379722059
2025-08-12T18:08:32+08:0059.197396750831864
2025-08-12T18:09:03+08:0060.17606185163437
2025-08-12T18:09:57+08:0060.64484243491877
2025-08-12T19:16:43+08:0060.93178704247406
2025-08-12T19:16:49+08:0061.91045214327657
2025-08-12T19:16:54+08:0062.29506752789195
2025-08-12T19:17:00+08:0062.306420043061266
2025-08-12T19:17:11+08:0062.314053630847525
2025-08-12T19:17:23+08:0062.72509297318457
2025-08-12T20:34:51+08:0063.048052456449405
2025-08-12T20:34:57+08:0063.05490311215502
2025-08-12T22:05:29+08:0063.08915639068311
2025-08-12T22:05:44+08:0063.646995498140534
2025-08-12T22:05:50+08:0063.62419260129184
2025-08-12T22:05:56+08:0064.92581718535916
2025-08-13T08:37:59+08:0066.53082795067527
2025-08-13T08:38:02+08:0067.08866705813271
2025-08-13T08:38:07+08:0069.3885300450186
2025-08-13T08:38:10+08:0070.84674104521433
2025-08-13T08:38:17+08:0070.84674104521433
2025-08-13T08:38:52+08:0070.83529066353493
2025-08-13T08:38:56+08:0070.88177725582305
2025-08-13T09:01:24+08:0070.95566647093365
2025-08-13T09:18:02+08:0070.97944803288314
2025-08-13T09:18:08+08:0073.00528479154433
2025-08-13T09:18:11+08:0073.10657662947739
2025-08-13T09:20:16+08:0074.36533568212957
2025-08-13T09:54:51+08:0074.38813857897827
2025-08-13T09:54:54+08:0074.51379917792131
2025-08-13T10:19:24+08:0074.52143276570757
2025-08-13T10:19:34+08:0076.1159718144451
2025-08-13T10:19:38+08:0081.58670972793111
2025-08-13T10:47:56+08:0081.61264435310237
2025-08-13T11:08:12+08:0084.53885300450186
2025-08-13T11:36:15+08:0084.6530632217655
2025-08-13T11:55:17+08:0084.65688001565864
2025-08-13T12:08:03+08:0086.24613427285183
2025-08-13T12:08:17+08:0091.0415932667841
2025-08-13T13:43:45+08:0091.06136230182031
2025-08-13T13:43:51+08:0091.32472108044627
2025-08-13T13:43:55+08:0091.32432961440595
2025-08-13T13:43:59+08:0091.33206106870229
2025-08-13T13:44:03+08:0091.34409864944216
2025-08-13T13:44:06+08:0091.39851242904678
2025-08-13T13:44:26+08:0095.06850655705618
2025-08-13T13:55:11+08:0094.95419847328245
2025-08-13T14:00:59+08:0097.52368369543942
2025-08-13T14:02:21+08:0098.31483656292816
2025-08-13T14:05:05+08:0098.65404188686631
2025-08-13T14:05:13+08:00102.09894304169113
2025-08-13T15:20:12+08:00102.70356234096693
2025-08-13T15:20:15+08:00102.93628890193776
2025-08-13T15:20:20+08:00102.9836562928166
2025-08-13T15:20:23+08:00103.02935995302407
2025-08-13T15:20:27+08:00103.08915639068312
2025-08-13T15:20:44+08:00108.38373458602466
2025-08-13T15:59:53+08:00108.38334311998435
2025-08-13T15:59:57+08:00108.38559404971619
2025-08-13T16:02:18+08:00108.40849481307497
2025-08-13T16:03:32+08:00121.74270894499902
2025-08-13T16:08:09+08:00159.71491485613623
2025-08-13T16:29:19+08:00159.7155999217068
2025-08-13T16:59:44+08:00159.7314542963398
2025-08-13T16:59:47+08:00159.769524368761
2025-08-13T16:59:50+08:00173.7155020551967
2025-08-13T17:03:38+08:00173.75357212761793
2025-08-13T17:05:08+08:00344.2859659424545
2025-08-13T17:39:51+08:00442.543942063026
2025-08-13T17:39:59+08:00442.58436093168916
2025-08-13T17:40:01+08:00442.58807985907225
2025-08-13T17:56:04+08:00442.5959091798786
2025-08-13T18:00:15+08:00452.3825601879037
2025-08-13T18:12:50+08:00452.4213153258955
2025-08-13T18:12:56+08:00482.7066940692895
2025-08-13T18:13:01+08:00566.480426697984
2025-08-13T18:14:05+08:00600.5820121354473
2025-08-13T18:14:42+08:00623.5806420043061
2025-08-13T18:15:07+08:00629.4526326091211
2025-08-13T20:14:03+08:00629.5306322176551
2025-08-13T20:14:08+08:00629.5997259737718
2025-08-13T20:14:14+08:00629.6001174398122
2025-08-13T20:14:20+08:00710.2714816989626
2025-08-13T20:14:25+08:00710.2775494225876
2025-08-13T20:14:30+08:00771.2973184576238
2025-08-13T22:06:17+08:00771.2984928557447
2025-08-13T22:06:22+08:00832.5531415149736
2025-08-13T22:06:27+08:00832.5504991192014
2025-08-13T22:06:32+08:00901.3506557056176
2025-08-14T08:48:26+08:00985.1439616363281
2025-08-14T08:48:29+08:001148.7669798394988
2025-08-14T08:48:34+08:001232.9028185554903
2025-08-14T08:48:37+08:001296.3203170874926
2025-08-14T08:48:48+08:001296.323155216285
2025-08-14T08:48:52+08:001296.3223722842044
2025-08-14T08:48:56+08:001296.3223722842044
2025-08-14T09:06:52+08:001315.8956743002545
2025-08-14T09:07:11+08:001425.5942454492074
2025-08-14T09:45:01+08:001700.5991387747113
2025-08-14T10:08:05+08:001759.3190448228615
2025-08-14T10:08:17+08:001837.4032100215306
2025-08-14T10:08:20+08:001840.7306713642593
2025-08-14T12:18:47+08:001841.0313172832257
2025-08-14T13:47:01+08:001907.5979643765904
2025-08-14T14:07:55+08:001954.9770013701311
2025-08-14T14:08:01+08:001954.4778821687219
2025-08-14T15:09:52+08:001963.4913877471129
2025-08-14T15:10:13+08:002014.3819729888432
2025-08-14T16:13:03+08:002017.0802505382658
2025-08-14T16:13:05+08:002031.8483069093757
2025-08-14T17:38:35+08:002076.0350362106087
2025-08-14T18:00:37+08:002075.581327069877
2025-08-14T18:00:58+08:002079.1045214327655
2025-08-14T18:01:21+08:002106.5071442552357
2025-08-14T18:02:15+08:002106.6613818751225
2025-08-14T18:12:10+08:002118.4322763750247
2025-08-14T18:12:16+08:002146.2263652378156
2025-08-14T20:26:28+08:002148.1836954394207
2025-08-14T20:26:33+08:002168.334409864944
2025-08-14T20:26:38+08:002179.696711685261
2025-08-14T22:24:55+08:002194.934527304756
2025-08-14T22:25:00+08:002209.0370914073205
2025-08-15T09:09:52+08:002225.6450381679388
2025-08-15T09:09:57+08:002225.6450381679388
2025-08-15T09:10:25+08:002246.069778821687
2025-08-15T09:10:29+08:002246.069778821687
2025-08-15T09:10:32+08:002303.3510471716577
2025-08-15T09:10:47+08:002311.278234488158
2025-08-15T09:10:51+08:002326.2909571344685
2025-08-15T09:12:26+08:002355.81728322568
2025-08-15T09:47:51+08:002375.39058524173
2025-08-15T09:47:55+08:002380.283910745743
2025-08-15T10:09:19+08:002404.0717361518887
2025-08-15T12:14:20+08:002400.8863769817967
2025-08-15T17:04:59+08:002439.43
TradeGo forecast multiple
TimeMultiple
Broker margin funds trend
TimeBrokerMargin funds
Pool A α=
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
0.48
Pool B α=
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
0.58
This model does not support allocation strategy adjustment

Actual vs Predicted Comparison

Using the actual oversubscription ratio 2809.19x and current allocation strategy (Pool A α=0.476, Pool B α=0.576) as the baseline, comparing actual vs predicted expected allotment lots per tier

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

LogoSicc Allotment Prediction Matrix

Rows are subscription tiers, columns are different oversubscription ratios, values are expected allotment lots; green indicates guaranteed allotment (≥1 lot)

Pool A

Oversubscription
2927.3x
Allocation Strategy
α=
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
0.48

Pool B

Oversubscription
2927.3x
Allocation Strategy
α=
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
0.58
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 Sicc (02631): 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 10,897 allotment-tier records across 356 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).
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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