CF Pharmtech 02652Expected Lots

CF Pharmtech (02652) Expected Lots
Offering Mechanism: Mechanism B | Min Subscription: HK$7,375  |  Public Offering Lots: Pool A 4,120lots / Pool B 4,120lots  |  Offer Price: HK$14.75  |  Lot Size: 500shares  |  Public Offering Size: HK$60.8M
1x16455.0x
Recent first-day return
+4.6%
→
Participants
18,459
→
Avg lots
60.0
→
Oversubscription
134x
134x = 18,459 × 60.0 ÷ 8,240 margin-weighted 100% → 5547.9x
Margin dynamics · 2025-10-02 11:25 Margin multiple5547.913115023861x Margin funds3371.5100M
Rank Broker Margin funds
1 富途证券富途 2182.4100M
2 辉立证券辉立 568.0100M
3 老虎国际老虎 342.8100M
4 华泰国际华泰 122.8100M
5 华盛证券华盛 55.4100M
6 耀才证券耀才 35.0100M
7 信诚证券信诚 30.0100M
9 长桥证券长桥 19.6100M
10 盈立证券盈立 15.5100M
11 卓锐证券 13.9100M
12 TradeGo MarketsTradeGo 6.2100M
13 艾德证券艾德 1.9100M
14 盈宝证券盈宝 1.6100M
15 FunderstoneFunderstone 1.0100M
Margin multiple
TimeMultiple
2025-09-26T06:00:00+08:000
2025-09-26T10:12:25+08:000.19927595853217048
2025-09-26T10:12:28+08:000.2994898798749383
2025-09-26T10:12:33+08:000.3159453677801547
2025-09-26T11:01:04+08:000.33832483133124897
2025-09-26T11:03:41+08:000.6022708573309199
2025-09-26T11:03:45+08:001.8219516208655586
2025-09-26T11:05:40+08:003.697877242060227
2025-09-26T11:49:32+08:003.862432121112391
2025-09-26T12:05:43+08:003.9233174263616917
2025-09-26T12:05:49+08:004.595524107289781
2025-09-26T12:05:52+08:005.738028632548955
2025-09-26T12:05:55+08:007.597498765838407
2025-09-26T13:45:01+08:007.636662827052822
2025-09-26T13:45:15+08:008.096593714003621
2025-09-26T13:45:23+08:008.709231528714826
2025-09-26T13:45:27+08:009.894026657890407
2025-09-26T14:01:55+08:009.976304097416488
2025-09-26T14:01:59+08:0010.026493335527398
2025-09-26T14:02:34+08:0010.233338818495968
2025-09-26T14:03:47+08:0010.308211288464703
2025-09-26T14:03:49+08:0010.963962481487576
2025-09-26T14:06:15+08:0011.704459437222313
2025-09-26T15:01:01+08:0011.749547474082606
2025-09-26T15:13:43+08:0011.986012835280565
2025-09-26T15:13:47+08:0012.50271515550436
2025-09-26T15:13:50+08:0012.947013328945204
2025-09-26T16:01:25+08:0012.953266414349185
2025-09-26T16:04:42+08:0013.913115023860458
2025-09-26T16:04:45+08:0014.026164225769294
2025-09-26T16:05:12+08:0014.569195326641434
2025-09-26T17:06:48+08:0014.58104327793319
2025-09-26T17:06:54+08:0015.818825078163568
2025-09-26T17:06:57+08:0016.259503044265262
2025-09-26T17:07:00+08:0017.197465854862596
2025-09-26T17:54:17+08:0020.982228073062366
2025-09-26T17:57:43+08:0022.46322198453184
2025-09-26T18:11:27+08:0022.468981405298667
2025-09-26T18:11:33+08:0039.270528221161754
2025-09-26T18:11:38+08:0039.389665953595525
2025-09-26T18:11:44+08:0073.97910153036038
2025-09-26T18:12:19+08:0075.62465032088201
2025-09-26T18:12:53+08:0077.27019911140366
2025-09-26T18:14:00+08:0077.50929735066644
2025-09-26T20:24:41+08:0077.51604410070759
2025-09-26T20:24:46+08:0086.57298008885964
2025-09-26T20:24:51+08:0088.51489221655422
2025-09-26T20:24:56+08:00125.12835280566068
2025-09-26T20:25:08+08:00130.0697712687181
2025-09-26T20:25:13+08:00130.06993582359718
2025-09-26T20:25:19+08:00158.14299818989633
2025-09-26T22:20:18+08:00162.54780319236465
2025-09-26T22:20:24+08:00179.94125390817837
2025-09-26T22:20:42+08:00184.01744281717953
2025-09-26T22:20:48+08:00200.57166364982723
2025-09-27T10:04:03+08:00200.57166364982723
2025-09-27T10:04:25+08:00200.85338160276453
2025-09-27T10:04:33+08:00200.87428007240413
2025-09-27T10:05:05+08:00264.5076518018759
2025-09-27T10:05:38+08:00272.6366628270528
2025-09-27T10:05:43+08:00278.19861773901596
2025-09-27T10:05:59+08:00290.302780977456
2025-09-27T10:07:26+08:00290.3017936481817
2025-09-27T10:07:31+08:00290.30261642257693
2025-09-27T10:07:47+08:00290.302780977456
2025-09-27T11:16:18+08:00290.3044265262465
2025-09-27T11:16:22+08:00291.16455487905216
2025-09-27T11:16:27+08:00297.86193845647523
2025-09-27T15:20:06+08:00297.87641928583184
2025-09-27T15:20:11+08:00298.4744117163074
2025-09-27T15:20:15+08:00303.7072568701662
2025-09-27T15:20:21+08:00303.7135099555702
2025-09-27T15:20:30+08:00304.2163896659536
2025-09-27T15:20:34+08:00311.20997202567054
2025-09-27T15:20:39+08:00311.2147441171631
2025-09-27T15:20:49+08:00311.410235313477
2025-09-27T15:20:54+08:00316.0835938785585
2025-09-27T15:20:59+08:00316.08853052493004
2025-09-27T15:21:04+08:00316.49679117985846
2025-09-27T15:21:09+08:00322.3549448741155
2025-09-27T22:05:03+08:00322.3587296363337
2025-09-27T22:05:08+08:00322.36547638637484
2025-09-27T22:05:12+08:00322.38999506335364
2025-09-27T22:05:17+08:00322.3939443804509
2025-09-27T22:05:34+08:00324.64653611979594
2025-09-27T22:05:39+08:00325.88234326147773
2025-09-27T22:05:44+08:00326.84844495639294
2025-09-27T22:05:48+08:00327.7470791508968
2025-09-27T22:05:52+08:00328.56639789369757
2025-09-27T22:05:57+08:00328.8662168833306
2025-09-27T22:06:02+08:00330.05545499424056
2025-09-27T22:06:59+08:00335.74905380944546
2025-09-27T22:07:04+08:00341.16290933026164
2025-09-27T22:07:08+08:00346.46157643574134
2025-09-27T22:07:13+08:00350.0488727990785
2025-09-27T22:07:18+08:00352.8298502550601
2025-09-27T22:07:22+08:00355.39690636827385
2025-09-27T22:07:27+08:00360.0044429817344
2025-09-28T10:15:16+08:00362.57149909494814
2025-09-28T10:15:34+08:00362.5698535461576
2025-09-28T10:15:40+08:00362.57149909494814
2025-09-28T10:15:54+08:00364.1689978607866
2025-09-28T10:16:00+08:00386.4003620207339
2025-09-28T10:16:10+08:00386.44742471614285
2025-09-28T10:16:21+08:00387.0024683231858
2025-09-28T10:16:27+08:00391.18216225111075
2025-09-28T10:16:33+08:00391.18973177554716
2025-09-28T10:16:44+08:00391.98732927431297
2025-09-28T10:16:49+08:00399.37584334375515
2025-09-28T13:48:30+08:00399.3807799901267
2025-09-28T13:48:41+08:00401.2126049037354
2025-09-28T13:48:48+08:00409.6542701991114
2025-09-28T13:48:53+08:00409.65937140036203
2025-09-28T13:48:58+08:00410.90653282869835
2025-09-28T13:49:03+08:00410.90636827381934
2025-09-28T13:49:08+08:00416.58351160111897
2025-09-28T13:49:19+08:00416.5892710218858
2025-09-28T13:49:24+08:00418.9542537436235
2025-09-28T13:49:29+08:00425.4048050024683
2025-09-28T13:49:34+08:00426.3921342767813
2025-09-28T13:49:39+08:00450.82853381602763
2025-09-28T16:22:29+08:00450.8352805660688
2025-09-28T16:22:34+08:00451.70149744939937
2025-09-28T16:22:40+08:00456.25966759914434
2025-09-28T16:22:45+08:00456.2659206845483
2025-09-28T16:22:50+08:00457.46519664308045
2025-09-28T16:22:56+08:00465.66002961987823
2025-09-28T16:23:01+08:00465.6652953760079
2025-09-28T16:23:11+08:00473.46519664308045
2025-09-28T16:23:16+08:00478.7839394438045
2025-09-28T18:19:28+08:00478.7864077669903
2025-09-28T18:19:34+08:00480.26197136745105
2025-09-28T18:19:39+08:00484.68849761395427
2025-09-28T18:19:44+08:00484.6912950468981
2025-09-28T18:19:58+08:00485.6883330590752
2025-09-28T18:20:03+08:00491.0034556524601
2025-09-28T21:09:50+08:00491.0051012012506
2025-09-28T21:09:57+08:00493.09544182985024
2025-09-28T21:10:03+08:00497.94981076188907
2025-09-28T21:10:10+08:00498.3949317097252
2025-09-28T21:10:16+08:00505.56952443639955
2025-09-28T21:10:22+08:00506.4308046733586
2025-09-28T21:10:28+08:00511.2851736053974
2025-09-28T22:09:02+08:00513.1499094948165
2025-09-28T22:09:07+08:00517.4612473259832
2025-09-29T08:38:44+08:00517.4614118808622
2025-09-29T08:38:56+08:00518.426032581866
2025-09-29T08:38:59+08:00522.7727497120289
2025-09-29T08:39:41+08:00522.7727497120289
2025-09-29T08:39:50+08:00557.9710383412868
2025-09-29T08:48:39+08:00590.4350831002139
2025-09-29T09:21:38+08:00590.4694750699358
2025-09-29T09:21:47+08:00591.9312160605562
2025-09-29T09:21:56+08:00602.9563929570512
2025-09-29T09:22:11+08:00609.0449234819812
2025-09-29T09:22:57+08:00609.0454171466184
2025-09-29T10:10:26+08:00617.3934507158137
2025-09-29T10:10:44+08:00626.1378969886457
2025-09-29T10:10:47+08:00630.0510120125061
2025-09-29T10:10:50+08:00663.3898305084746
2025-09-29T11:08:30+08:00663.4758927102189
2025-09-29T11:08:42+08:00671.2305413855521
2025-09-29T11:08:46+08:00673.8996215237781
2025-09-29T11:08:54+08:00703.4536778015469
2025-09-29T12:10:07+08:00726.7711041632384
2025-09-29T12:10:20+08:00726.8020404805003
2025-09-29T12:10:35+08:00732.8377488892546
2025-09-29T12:10:43+08:00732.8370906697384
2025-09-29T13:42:32+08:00732.8621030113543
2025-09-29T13:42:43+08:00738.7110416323844
2025-09-29T13:42:46+08:00757.6842191870988
2025-09-29T14:00:47+08:00757.7358894191212
2025-09-29T14:00:58+08:00865.848444956393
2025-09-29T14:03:19+08:00871.8046733585651
2025-09-29T14:03:22+08:00871.804344248807
2025-09-29T14:07:03+08:00892.8704953101859
2025-09-29T14:07:20+08:00914.0980747079151
2025-09-29T14:40:55+08:00924.9586967253579
2025-09-29T15:08:23+08:00924.9753167681422
2025-09-29T15:08:29+08:00932.1696560803027
2025-09-29T15:08:32+08:00932.1064670067467
2025-09-29T15:08:35+08:00952.955570182656
2025-09-29T16:13:35+08:00953.0319236465361
2025-09-29T16:13:49+08:00958.280730623663
2025-09-29T16:13:52+08:00958.2675662333388
2025-09-29T16:13:59+08:00982.3584005265756
2025-09-29T17:06:20+08:00982.4344248806977
2025-09-29T17:06:27+08:001015.5241072897811
2025-09-29T17:06:30+08:001023.1007075859799
2025-09-29T17:06:33+08:001174.0962646042456
2025-09-29T17:18:45+08:001238.2726674345895
2025-09-29T17:48:54+08:001251.4370577587626
2025-09-29T17:57:35+08:001307.3857166364983
2025-09-29T17:58:16+08:001355.1066315616258
2025-09-29T18:03:44+08:001360.9697219022544
2025-09-29T18:03:56+08:001379.2228073062365
2025-09-29T18:04:01+08:001381.5968405463223
2025-09-29T18:05:01+08:001407.7847622181998
2025-09-29T18:05:12+08:001482.3610334046405
2025-09-29T20:18:44+08:001482.391311502386
2025-09-29T20:18:49+08:001494.637321046569
2025-09-29T20:18:55+08:001550.9480006582196
2025-09-29T20:19:10+08:001557.6146124732597
2025-09-29T20:19:16+08:001588.6661181504032
2025-09-29T21:40:20+08:001595.0997202567057
2025-09-29T21:40:25+08:001630.709396083594
2025-09-29T22:12:00+08:001636.255553727168
2025-09-29T22:12:06+08:001674.8601283528058
2025-09-29T23:59:38+08:001683.9855191706433
2025-09-30T08:47:04+08:001683.9855191706433
2025-09-30T08:47:12+08:001683.9855191706433
2025-09-30T08:47:25+08:001683.9851900608853
2025-09-30T08:47:53+08:001700.5698535461577
2025-09-30T08:48:05+08:001854.74131973013
2025-09-30T09:04:48+08:001854.8665459930887
2025-09-30T09:05:02+08:001858.0673029455324
2025-09-30T09:05:07+08:001887.8188250781636
2025-09-30T09:37:08+08:001900.9832154023368
2025-09-30T09:38:55+08:001921.8816850419614
2025-09-30T10:17:13+08:001927.5150567714334
2025-09-30T10:18:26+08:001944.9091657067631
2025-09-30T10:18:38+08:001944.908672042126
2025-09-30T10:18:45+08:002031.1189731775546
2025-09-30T11:08:30+08:002031.3065657396742
2025-09-30T11:09:14+08:002046.0594043113379
2025-09-30T11:09:23+08:002046.0559486588777
2025-09-30T11:09:34+08:002139.1117327628763
2025-09-30T12:04:28+08:002142.368602929077
2025-09-30T12:05:05+08:002152.2418956722067
2025-09-30T12:05:22+08:002160.545499424058
2025-09-30T12:05:57+08:002236.1749218364325
2025-09-30T13:45:35+08:002244.2988316603587
2025-09-30T13:45:41+08:002245.1879216718776
2025-09-30T13:46:02+08:002295.8708244199443
2025-09-30T14:10:20+08:002301.6192200098735
2025-09-30T14:10:37+08:002303.927266743459
2025-09-30T14:10:50+08:002354.97219022544
2025-09-30T14:11:31+08:002379.96527892052
2025-09-30T15:10:04+08:002386.5002468323187
2025-09-30T15:10:16+08:002393.377324337667
2025-09-30T15:10:32+08:002451.3170972519333
2025-09-30T15:57:18+08:002462.177719269376
2025-09-30T16:04:42+08:002475.432121112391
2025-09-30T16:13:22+08:002534.721244034886
2025-09-30T17:06:11+08:002545.830343919697
2025-09-30T17:06:34+08:002601.0714168175086
2025-09-30T17:42:47+08:002951.5733091986176
2025-09-30T18:03:43+08:002977.2203389830506
2025-09-30T18:04:24+08:002984.8007240414677
2025-09-30T18:09:56+08:003023.7837748889256
2025-09-30T20:14:41+08:003027.0070758597994
2025-09-30T20:14:46+08:003066.352147441172
2025-09-30T20:15:28+08:003070.876090176074
2025-09-30T20:15:33+08:003103.7870659865066
2025-09-30T21:05:44+08:003105.9613296034227
2025-09-30T21:05:50+08:003133.4584498930394
2025-09-30T22:12:12+08:003143.7202567056115
2025-09-30T22:12:18+08:003190.536119795952
2025-10-01T09:36:11+08:003194.9988481158466
2025-10-01T09:39:48+08:003209.7322692117823
2025-10-01T09:39:54+08:003434.3167681421755
2025-10-01T09:40:55+08:003441.5637650156327
2025-10-01T09:41:00+08:003480.365805496133
2025-10-01T10:13:27+08:003483.0230376830673
2025-10-01T10:13:32+08:003541.3083758433436
2025-10-01T10:33:06+08:003541.3083758433436
2025-10-01T13:07:00+08:003554.0457462563763
2025-10-01T13:07:05+08:003609.2539081783775
2025-10-01T13:07:49+08:003615.1090998848117
2025-10-01T13:07:55+08:003663.3895013987167
2025-10-01T13:09:00+08:003668.6486753332238
2025-10-01T13:09:05+08:003721.240414678295
2025-10-01T16:00:58+08:003724.7681421754155
2025-10-01T16:01:03+08:003774.4966266249794
2025-10-01T16:01:59+08:003778.106960671384
2025-10-01T16:02:04+08:003815.526740167846
2025-10-01T16:12:18+08:003820.8586473588944
2025-10-01T16:12:23+08:003862.211288464703
2025-10-01T18:42:26+08:003866.5716636498273
2025-10-01T18:42:32+08:003909.3394767154846
2025-10-01T18:43:09+08:003917.2288958367617
2025-10-01T18:45:28+08:003967.598815204871
2025-10-01T18:45:45+08:004012.324831331249
2025-10-01T20:14:32+08:004017.7521803521477
2025-10-01T20:14:37+08:004073.914760572651
2025-10-01T20:15:18+08:004079.085403982228
2025-10-01T20:15:25+08:004125.9177225604735
2025-10-01T21:25:12+08:004133.785914102353
2025-10-01T21:25:18+08:004189.964949810762
2025-10-01T22:09:28+08:004197.5316768142175
2025-10-01T22:09:37+08:004286.934342603258
2025-10-02T09:40:56+08:004362.8153694257035
2025-10-02T09:41:02+08:004995.825078163568
2025-10-02T09:42:24+08:005010.5499424057925
2025-10-02T09:42:29+08:005139.774888925456
2025-10-02T11:22:49+08:005147.317097251934
2025-10-02T11:24:42+08:005555.4131973013
2025-10-02T11:25:24+08:005547.913115023861
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
0.53
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
0.63
This model does not support allocation strategy adjustment

Actual vs Predicted Comparison

Using the actual oversubscription ratio 6697.8x and current allocation strategy (Pool A α=0.527, Pool B α=0.627) as the baseline, comparing actual vs predicted expected allotment lots per tier

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

LogoCF Pharmtech 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
5547.9x
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
0.53

Pool B

Oversubscription
5547.9x
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
0.63
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 CF Pharmtech (02652): 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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