Caocao Inc 02643Expected Lots

Caocao Inc (02643) Expected Lots
Offering Mechanism: Mechanism A (Old) | Min Subscription: HK$4,194  |  Public Offering Lots: Pool A 66,268lots / Pool B 66,268lots  |  Offer Price: HK$41.94  |  Lot Size: 100shares  |  Public Offering Size: HK$555.9M
1x5397.0x
Recent first-day return
+4.6%
→
Participants
23,539
→
Avg lots
76.2
→
Oversubscription
68x
68x = 23,539 × 76.2 ÷ 26,507 margin-weighted 100% → 11.7x
Margin dynamics · 2025-06-20 10:09 Margin multiple11.70899670786335x Margin funds21.7100M
Rank Broker Margin funds
1 富途证券富途 10.0100M
2 辉立证券辉立 4.7100M
3 老虎国际老虎 2.9100M
4 耀才证券耀才 2.3100M
5 华盛证券华盛 720010K
6 长桥证券长桥 501310K
7 华泰国际华泰 333910K
8 盈立证券盈立 253110K
10 卓锐证券 35610K
11 艾德证券艾德 33810K
12 盈宝证券盈宝 25210K
13 信诚证券信诚 20010K
14 FunderstoneFunderstone 7910K
15 TradeGo MarketsTradeGo 1010K
Margin multiple
TimeMultiple
2025-06-17T06:00:00+08:000
2025-06-17T10:05:14+08:000.0004857250796049436
2025-06-17T10:05:37+08:000.0007016028927626963
2025-06-17T10:06:06+08:000.027686329537481784
2025-06-17T11:10:58+08:000.08165578282691996
2025-06-17T11:11:38+08:000.08446219439797074
2025-06-17T11:12:20+08:000.13406012197096442
2025-06-17T11:12:32+08:000.13945706729990826
2025-06-17T12:05:53+08:000.1429111123104323
2025-06-17T12:06:53+08:000.2616439095471963
2025-06-17T12:07:40+08:000.2599168870419343
2025-06-17T12:08:14+08:000.4977602676884883
2025-06-17T13:40:48+08:000.4979761455016461
2025-06-17T13:41:18+08:000.6814722866857359
2025-06-17T13:42:29+08:000.7030600680015111
2025-06-17T13:43:49+08:000.7052188461330887
2025-06-17T14:31:54+08:000.7075395326245345
2025-06-17T14:32:29+08:000.7142317448324248
2025-06-17T14:33:27+08:000.827567596740245
2025-06-17T14:34:05+08:000.8327486642560311
2025-06-17T14:35:57+08:000.8361487398132657
2025-06-17T15:11:27+08:000.8373360677856333
2025-06-17T15:11:58+08:000.8475902639106266
2025-06-17T15:12:34+08:000.8745749905553457
2025-06-17T16:05:34+08:000.8805116304171838
2025-06-17T16:05:52+08:000.8842355226941551
2025-06-17T16:06:12+08:000.8875816287981003
2025-06-17T16:06:47+08:000.9469480274164823
2025-06-17T17:03:39+08:000.9473258135895083
2025-06-17T17:03:56+08:000.9652976415348913
2025-06-17T17:07:45+08:001.0840304387716553
2025-06-17T17:15:41+08:001.4995952291003292
2025-06-17T18:07:05+08:001.5024556101246693
2025-06-17T18:07:41+08:001.5271196502779427
2025-06-17T18:08:05+08:001.6879486210804684
2025-06-17T18:08:34+08:002.1304981380538615
2025-06-17T18:10:12+08:002.1364887473689893
2025-06-17T20:40:03+08:002.163473474013708
2025-06-17T20:41:52+08:002.164660801986076
2025-06-17T20:43:29+08:002.2204112472340656
2025-06-17T20:44:02+08:002.5766096389443573
2025-06-17T20:56:47+08:002.6602622915429865
2025-06-17T22:40:40+08:002.684818392789681
2025-06-17T22:41:12+08:002.954665659236872
2025-06-18T09:13:48+08:002.9674024502131795
2025-06-18T09:14:25+08:003.328997787252415
2025-06-18T09:15:15+08:003.338496411031356
2025-06-18T09:17:12+08:003.3397377084570135
2025-06-18T09:17:36+08:003.3235468724701818
2025-06-18T10:00:55+08:003.3235468724701818
2025-06-18T10:02:31+08:003.3248421393491285
2025-06-18T10:04:18+08:003.871660640077716
2025-06-18T10:04:35+08:003.8729559069566624
2025-06-18T10:06:05+08:004.033353122132873
2025-06-18T10:07:56+08:004.22764315397485
2025-06-18T10:57:53+08:004.281612607264289
2025-06-18T11:06:19+08:004.317502293701764
2025-06-18T11:07:26+08:004.3876625829780345
2025-06-18T12:10:58+08:004.395973878784608
2025-06-18T12:11:32+08:004.406713799989206
2025-06-18T12:11:58+08:004.466080198607588
2025-06-18T12:12:53+08:004.5232338496411035
2025-06-18T13:41:42+08:004.523611635814129
2025-06-18T13:42:33+08:004.529710184035836
2025-06-18T13:43:07+08:004.535107129364779
2025-06-18T14:00:53+08:004.5401802579739865
2025-06-18T14:02:30+08:004.584165362404879
2025-06-18T14:05:27+08:004.6101246694370985
2025-06-18T14:05:53+08:004.632360084192348
2025-06-18T14:06:22+08:004.637757029521291
2025-06-18T15:17:44+08:004.64358573047655
2025-06-18T15:18:17+08:004.655351071293648
2025-06-18T15:18:40+08:004.736305251227805
2025-06-18T15:19:40+08:004.860434993793513
2025-06-18T16:06:25+08:004.87128285390469
2025-06-18T16:07:29+08:005.017000377786173
2025-06-18T16:08:07+08:005.018133736305251
2025-06-18T16:08:36+08:005.091154406605861
2025-06-18T17:05:14+08:005.093960818176912
2025-06-18T17:05:56+08:005.100275244211776
2025-06-18T17:06:18+08:005.213611096119596
2025-06-18T17:16:57+08:005.267580549409034
2025-06-18T17:32:07+08:005.321550002698473
2025-06-18T18:05:15+08:005.32279130012413
2025-06-18T18:06:47+08:005.362512817745157
2025-06-18T18:06:52+08:005.361703275945815
2025-06-18T18:07:17+08:005.356306330616871
2025-06-18T18:11:00+08:005.364239840250418
2025-06-18T20:14:07+08:005.365103351503049
2025-06-18T20:14:53+08:005.366560526741864
2025-06-18T20:15:22+08:005.452911652004965
2025-06-18T20:16:19+08:005.454800582870096
2025-06-18T20:23:25+08:006.018781369744724
2025-06-18T21:12:10+08:006.018187705758541
2025-06-18T21:12:36+08:006.028981596416428
2025-06-18T22:08:58+08:006.0286038102434025
2025-06-18T22:09:18+08:006.055588536888122
2025-06-19T07:23:43+08:006.073398456473636
2025-06-19T07:23:47+08:006.075179448432188
2025-06-19T07:23:51+08:006.077554104376922
2025-06-19T07:25:51+08:006.066760213719035
2025-06-19T07:25:56+08:006.109935776350586
2025-06-19T07:27:22+08:006.109935776350586
2025-06-19T09:25:04+08:006.110583409790059
2025-06-19T09:29:55+08:006.213125371039991
2025-06-19T09:30:20+08:006.230071779372875
2025-06-19T09:31:12+08:006.229747962653138
2025-06-19T09:31:35+08:006.2135571266663066
2025-06-19T10:06:25+08:006.2157698742511736
2025-06-19T10:07:24+08:006.20751254789789
2025-06-19T10:07:27+08:006.289438177991257
2025-06-19T10:07:44+08:006.230071779372875
2025-06-19T11:05:34+08:006.231421015705111
2025-06-19T11:06:26+08:006.355550758270819
2025-06-19T11:07:05+08:006.355658697177398
2025-06-19T11:08:54+08:006.3723892276971235
2025-06-19T12:12:43+08:006.373738464029359
2025-06-19T12:13:32+08:006.387284796805008
2025-06-19T12:13:50+08:006.457445086081278
2025-06-19T12:14:35+08:006.457984780614172
2025-06-19T13:43:19+08:006.470991418856927
2025-06-19T13:44:16+08:006.471099357763506
2025-06-19T13:44:41+08:006.460305467105618
2025-06-19T14:04:00+08:006.400021587781316
2025-06-19T14:05:59+08:006.395326245345134
2025-06-19T14:06:35+08:006.399589832155001
2025-06-19T15:10:43+08:006.334826488207675
2025-06-19T15:11:30+08:006.329753359598468
2025-06-19T16:06:16+08:006.316854660262291
2025-06-19T16:06:35+08:006.354633277564898
2025-06-19T17:07:57+08:006.59749581736737
2025-06-19T17:20:00+08:008.540396135787145
2025-06-19T18:04:39+08:008.37956716498462
2025-06-19T18:08:04+08:008.843704463273786
2025-06-19T18:08:28+08:008.962437260510551
2025-06-19T18:10:09+08:008.964488099735549
2025-06-19T20:08:03+08:009.142587295590696
2025-06-19T20:09:09+08:009.299098710130066
2025-06-19T20:10:11+08:009.871174914998111
2025-06-19T21:18:33+08:009.935938258945438
2025-06-19T22:26:28+08:0010.022289384208538
2025-06-20T08:43:26+08:0010.324518322629391
2025-06-20T08:43:29+08:0010.51880835447137
2025-06-20T08:43:32+08:0010.513411409142426
2025-06-20T08:43:35+08:0010.534999190458201
2025-06-20T08:43:38+08:0010.761670894273841
2025-06-20T08:48:37+08:0010.761670894273841
2025-06-20T09:55:50+08:0011.107075395326245
2025-06-20T10:07:59+08:0011.581844675913432
2025-06-20T10:08:56+08:0011.689783582492309
2025-06-20T10:09:28+08:0011.70899670786335
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
0.61
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
0.71
This model does not support allocation strategy adjustment

Actual vs Predicted Comparison

Using the actual oversubscription ratio 21.14x and current allocation strategy (Pool A α=0.612, Pool B α=0.712) as the baseline, comparing actual vs predicted expected allotment lots per tier

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

LogoCaocao Inc 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
11.7x
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
0.61

Pool B

Oversubscription
11.7x
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
0.71
Offering Mechanism

Mechanism A (Old)

Mechanism A applicable before 4 August 2025. Initial public offer allocation was 10% of offering shares, with clawback thresholds at 15x/50x/100x, raising to 30%/40%/50% respectively.

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 Caocao Inc (02643): 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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