Longsys 09976Expected Lots

Longsys (09976) Expected Lots
Offering Mechanism: Mechanism B | Min Subscription: HK$11,800  |  Public Offering Lots: Pool A 26,078lots / Pool B 26,078lots  |  Offer Price: HK$236.00  |  Lot Size: 50shares  |  Public Offering Size: HK$615.4M
1x1624.0x
Recent first-day return
+4.6%
→
Participants
15,729
→
Avg lots
27.8
→
Oversubscription
8x
8x = 15,729 × 27.8 ÷ 52,156 A+H secondary · participants ×0.44 H-share discount 38.3% margin-weighted 100% → 39.4x
Margin dynamics · 2026-09-03 12:00 Margin multiple27.16x Margin funds170.5100M TradeGo forecast multiple39.39x
Rank Broker Margin funds
1 富途证券富途 61.6100M
2 辉立证券辉立 49.1100M
3 老虎国际老虎 17.3100M
4 华泰国际华泰 10.5100M
5 盈立证券盈立 8.2100M
7 复星国际复星 5.9100M
8 信诚证券信诚 5.0100M
9 致富证券致富 3.4100M
10 熊猫证券熊猫 2.7100M
11 长桥证券长桥 2.4100M
12 华盛证券华盛 2.3100M
13 东证国际东证 896110K
14 艾德证券艾德 543510K
15 兴证国际兴证 246310K
16 TradeGo MarketsTradeGo 186010K
17 盈宝证券盈宝 179110K
Margin multiple
TimeMultiple
2026-08-31T06:00:00+08:000
2026-08-31T10:08:01+08:000.10646436312635471
2026-08-31T10:08:07+08:000.267770623485911
2026-08-31T10:08:13+08:000.29150197628458496
2026-08-31T10:08:22+08:000.30265842152237665
2026-08-31T10:08:30+08:000.34
2026-08-31T10:32:35+08:000.7954386076756343
2026-08-31T11:26:04+08:000.8309798546474564
2026-08-31T11:26:21+08:000.8451644778783629
2026-08-31T11:26:39+08:000.8708880530409282
2026-08-31T11:26:49+08:001.3254335075863828
2026-08-31T11:26:58+08:001.3917346678566875
2026-08-31T11:27:21+08:001.3963247481830932
2026-08-31T11:27:40+08:001.4170757363253856
2026-08-31T11:27:56+08:001.57
2026-08-31T12:21:16+08:001.6117557057248502
2026-08-31T12:21:26+08:001.659569042458243
2026-08-31T12:21:47+08:001.6987281652428918
2026-08-31T12:22:07+08:001.6992062986102257
2026-08-31T12:22:34+08:001.70166071656254
2026-08-31T12:22:50+08:001.761809894173148
2026-08-31T12:23:45+08:001.7687268902205788
2026-08-31T12:24:14+08:002.06
2026-08-31T13:41:43+08:002.0651695779676142
2026-08-31T13:42:11+08:002.066827106974372
2026-08-31T13:42:42+08:002.082191125844702
2026-08-31T13:43:03+08:002.098798291470101
2026-08-31T13:43:27+08:002.2820827489481066
2026-08-31T13:43:43+08:002.32
2026-08-31T14:04:31+08:002.373374346551065
2026-08-31T14:04:47+08:002.3829688894555656
2026-08-31T14:05:07+08:002.38303264057121
2026-08-31T14:05:17+08:002.5048291470100725
2026-08-31T14:05:43+08:002.523508223893918
2026-08-31T14:05:59+08:002.524416677291853
2026-08-31T14:06:12+08:002.6519189085809
2026-08-31T14:07:04+08:002.73
2026-08-31T15:13:25+08:002.776887033023078
2026-08-31T15:13:41+08:002.788935993879893
2026-08-31T15:13:57+08:002.8121413999744997
2026-08-31T15:14:15+08:002.8128426622465894
2026-08-31T15:14:30+08:002.8854233074078794
2026-08-31T15:14:42+08:002.9233233456585492
2026-08-31T15:15:04+08:003.0380753538186918
2026-08-31T15:16:17+08:003.05
2026-08-31T16:54:40+08:003.0897296952696673
2026-08-31T16:54:58+08:003.1065599897998215
2026-08-31T16:55:13+08:003.120250541884483
2026-08-31T16:55:23+08:003.2073505036338137
2026-08-31T16:55:44+08:003.2129287262527093
2026-08-31T16:56:18+08:003.6161545327043223
2026-08-31T16:56:41+08:003.642515619023333
2026-08-31T17:00:14+08:003.677833737090399
2026-08-31T17:00:48+08:003.709709294912661
2026-08-31T17:01:40+08:003.73576756343236
2026-08-31T17:07:43+08:003.818404947086574
2026-08-31T17:08:04+08:003.8667920438607677
2026-08-31T17:08:29+08:003.8812954226698966
2026-08-31T17:08:47+08:003.8907624633431084
2026-08-31T17:09:01+08:004.0740469208211145
2026-08-31T17:09:13+08:004.13
2026-08-31T17:47:48+08:005.41
2026-08-31T18:09:23+08:005.395846614815759
2026-08-31T18:10:06+08:005.42700497258702
2026-08-31T18:10:10+08:005.566444600280505
2026-08-31T18:10:23+08:005.590717837562157
2026-08-31T18:10:51+08:005.617015172765523
2026-08-31T18:11:08+08:005.619517404054571
2026-08-31T18:11:22+08:005.648492286115007
2026-08-31T18:11:48+08:005.723399846997323
2026-08-31T18:12:52+08:006.305033150580135
2026-08-31T21:04:09+08:006.3071688129542265
2026-08-31T21:05:05+08:006.313751115644524
2026-08-31T21:05:51+08:006.372752773173531
2026-08-31T21:06:32+08:006.381916996047431
2026-08-31T21:07:00+08:006.3913362233839095
2026-08-31T21:07:33+08:006.534776233584088
2026-08-31T21:07:49+08:006.576214458753028
2026-08-31T21:08:00+08:006.498119342088486
2026-08-31T22:04:31+08:006.5111245696799696
2026-08-31T22:04:52+08:006.515300267754686
2026-08-31T22:05:08+08:006.525181690679587
2026-08-31T22:05:27+08:006.606464363126355
2026-09-01T08:36:53+08:006.632793573887543
2026-09-01T08:37:02+08:006.84470228228994
2026-09-01T08:38:22+08:006.846630753538187
2026-09-01T08:38:32+08:006.8761315823026905
2026-09-01T08:38:49+08:006.8761315823026905
2026-09-01T08:39:03+08:007.53
2026-09-01T09:03:37+08:007.525468570699987
2026-09-01T09:04:01+08:007.579959836797144
2026-09-01T09:04:13+08:007.580055463470611
2026-09-01T09:04:23+08:007.595945429045008
2026-09-01T09:04:47+08:007.642818436822645
2026-09-01T09:05:03+08:007.665752900675762
2026-09-01T09:05:18+08:007.7597857962514345
2026-09-01T09:06:47+08:007.93
2026-09-01T10:11:20+08:008.17066173658039
2026-09-01T10:11:39+08:008.270735050363381
2026-09-01T10:11:54+08:008.280090526584216
2026-09-01T10:12:10+08:008.303742190488334
2026-09-01T10:12:24+08:008.485432870075226
2026-09-01T10:12:52+08:008.493529261762081
2026-09-01T10:13:33+08:008.6
2026-09-01T10:18:55+08:008.5257713884993
2026-09-01T10:45:29+08:008.543207318628076
2026-09-01T11:17:25+08:008.57694759658294
2026-09-01T11:17:35+08:008.615740150452632
2026-09-01T11:17:56+08:008.6164095371669
2026-09-01T11:18:19+08:008.644380339155935
2026-09-01T11:18:35+08:008.677546857069999
2026-09-01T11:19:09+08:008.703796378936632
2026-09-01T11:19:32+08:009.019364401377024
2026-09-01T11:19:40+08:009.1
2026-09-01T12:11:50+08:009.047287390029325
2026-09-01T12:12:10+08:009.05410875940329
2026-09-01T12:12:21+08:009.097411704704832
2026-09-01T12:12:42+08:009.114369501466276
2026-09-01T12:12:57+08:009.117222363891369
2026-09-01T12:13:27+08:009.132395129414764
2026-09-01T12:13:59+08:009.45
2026-09-01T13:43:19+08:009.296602065536147
2026-09-01T13:43:41+08:009.311695142164988
2026-09-01T13:43:53+08:009.311742955501721
2026-09-01T13:44:09+08:009.331840494708658
2026-09-01T13:44:32+08:009.437029835522122
2026-09-01T13:44:49+08:009.44123740915466
2026-09-01T13:45:14+08:009.63
2026-09-01T14:02:48+08:009.477193038378172
2026-09-01T14:03:13+08:009.553503123804667
2026-09-01T14:03:40+08:009.56623740915466
2026-09-01T14:04:03+08:009.577999489991075
2026-09-01T14:04:17+08:009.590446895320667
2026-09-01T14:04:36+08:009.590526584215224
2026-09-01T14:05:28+08:009.697963151855157
2026-09-01T14:06:31+08:0010.04
2026-09-01T15:15:51+08:009.88939181435675
2026-09-01T15:16:07+08:009.897918526074207
2026-09-01T15:16:22+08:009.906588677801862
2026-09-01T15:16:34+08:009.900723575162566
2026-09-01T15:16:57+08:009.909680606910621
2026-09-01T15:17:12+08:009.938352671171746
2026-09-01T15:17:37+08:0010.23
2026-09-01T15:51:00+08:0010.05524034170598
2026-09-01T16:03:00+08:0010.062348591100344
2026-09-01T16:03:19+08:0010.089793446385311
2026-09-01T16:03:39+08:0010.12018679076884
2026-09-01T16:04:00+08:0010.149321050618386
2026-09-01T16:04:14+08:0010.15697118449573
2026-09-01T16:04:30+08:0010.174152110161927
2026-09-01T16:08:35+08:0010.57
2026-09-01T17:05:20+08:0010.420247354328701
2026-09-01T17:05:34+08:0010.434941986484764
2026-09-01T17:05:46+08:0010.502422542394491
2026-09-01T17:06:09+08:0010.531811806706617
2026-09-01T17:06:19+08:0010.543860767563432
2026-09-01T17:06:40+08:0010.560404182073187
2026-09-01T17:06:51+08:0010.56075481320923
2026-09-01T17:07:05+08:0010.752008160142802
2026-09-01T17:07:48+08:0011.44
2026-09-01T17:37:19+08:0010.743736452887925
2026-09-01T17:37:37+08:0011.540625398444472
2026-09-01T17:38:47+08:0011.79
2026-09-01T18:08:26+08:0011.582238939181435
2026-09-01T18:08:59+08:0011.581649241361724
2026-09-01T18:09:03+08:0011.616744230524034
2026-09-01T18:09:18+08:0011.624075608823155
2026-09-01T18:09:27+08:0011.632634196098431
2026-09-01T18:09:41+08:0011.655218028815504
2026-09-01T18:09:50+08:0011.749250924391177
2026-09-01T18:10:54+08:0012.09
2026-09-01T19:56:38+08:0011.870043350758639
2026-09-01T19:56:58+08:0011.872434017595308
2026-09-01T19:57:03+08:0011.907513068978707
2026-09-01T19:57:46+08:0011.90612648221344
2026-09-01T19:57:57+08:0011.90614241999235
2026-09-01T19:58:08+08:0012.09
2026-09-01T20:22:22+08:0012.072963151855157
2026-09-01T20:22:29+08:0012.097363891368099
2026-09-01T20:23:00+08:0012.099053295932679
2026-09-01T20:23:10+08:0012.100089251561903
2026-09-01T20:23:24+08:0012.43
2026-09-01T21:32:41+08:0012.198106591865358
2026-09-01T21:32:45+08:0012.210633686089507
2026-09-01T21:33:13+08:0012.22110480683412
2026-09-01T21:33:29+08:0012.258781716180033
2026-09-01T21:33:38+08:0012.52972395766926
2026-09-01T22:07:07+08:0012.64500191253347
2026-09-01T22:07:26+08:0012.650643886268009
2026-09-01T22:07:41+08:0012.663824429427516
2026-09-01T22:07:50+08:0013.09
2026-09-02T08:37:13+08:0012.849164860385057
2026-09-02T08:39:09+08:0012.915179140634962
2026-09-02T08:39:37+08:0012.934049470865741
2026-09-02T08:39:47+08:0013.069440902715797
2026-09-02T08:40:21+08:0013.069440902715797
2026-09-02T08:40:42+08:0013.74042139487441
2026-09-02T09:21:00+08:0013.854774958561775
2026-09-02T09:21:31+08:0013.848957669259212
2026-09-02T09:21:55+08:0013.87767754685707
2026-09-02T09:22:12+08:0013.982723447660334
2026-09-02T09:23:07+08:0014.186647328828254
2026-09-02T09:24:43+08:0014.49265268392197
2026-09-02T09:25:08+08:0014.44
2026-09-02T10:12:16+08:0014.668557949764121
2026-09-02T10:12:35+08:0014.669721407624634
2026-09-02T10:12:49+08:0014.689563942368991
2026-09-02T10:13:06+08:0014.727145225041438
2026-09-02T10:13:24+08:0014.748772791023843
2026-09-02T10:14:10+08:0014.98
2026-09-02T11:50:25+08:0015.193962769348463
2026-09-02T11:51:00+08:0015.209486166007904
2026-09-02T11:51:21+08:0015.214235624123422
2026-09-02T11:51:44+08:0015.21842725997705
2026-09-02T11:52:06+08:0015.22617302052786
2026-09-02T11:52:12+08:0015.536959709294912
2026-09-02T11:52:47+08:0015.41
2026-09-02T12:09:28+08:0015.589219686344512
2026-09-02T12:10:52+08:0015.591674104296825
2026-09-02T12:11:21+08:0015.629749458115517
2026-09-02T12:11:44+08:0015.641033405584597
2026-09-02T12:11:55+08:0015.728691189595818
2026-09-02T12:12:14+08:0015.78
2026-09-02T13:43:14+08:0015.761363636363637
2026-09-02T13:43:43+08:0015.971343873517787
2026-09-02T13:44:04+08:0015.974531429300013
2026-09-02T13:44:16+08:0015.987058523524162
2026-09-02T13:44:32+08:0015.990389519316588
2026-09-02T13:44:41+08:0016.23
2026-09-02T14:13:45+08:0016.02111755705725
2026-09-02T14:14:00+08:0016.02153193930894
2026-09-02T14:14:12+08:0016.03311870457733
2026-09-02T14:14:19+08:0016.17177738110417
2026-09-02T14:14:39+08:0016.170342981002168
2026-09-02T14:15:23+08:0016.37
2026-09-02T15:46:22+08:0016.280393344383526
2026-09-02T15:46:45+08:0016.31821369373964
2026-09-02T15:46:54+08:0016.3208753028178
2026-09-02T15:47:00+08:0016.36782799948999
2026-09-02T15:47:15+08:0016.377725360193804
2026-09-02T15:47:21+08:0016.54
2026-09-02T16:12:27+08:0016.544530154277698
2026-09-02T16:12:30+08:0016.547175825576947
2026-09-02T16:12:33+08:0016.780807726635217
2026-09-02T16:12:36+08:0016.823250031875556
2026-09-02T16:12:40+08:0016.826150707637385
2026-09-02T16:12:43+08:0016.74
2026-09-02T16:33:34+08:0017.07
2026-09-02T17:04:50+08:0017.058156955246716
2026-09-02T17:04:53+08:0017.068389009307662
2026-09-02T17:05:01+08:0017.139057120999617
2026-09-02T17:05:03+08:0017.142117174550556
2026-09-02T17:05:07+08:0017.14387033023078
2026-09-02T17:05:14+08:0020.17204832334566
2026-09-02T17:05:21+08:0020.34
2026-09-02T18:07:48+08:0020.39235624123422
2026-09-02T18:08:17+08:0020.398874792808876
2026-09-02T18:08:23+08:0020.444281524926687
2026-09-02T18:08:38+08:0020.460219303837818
2026-09-02T18:08:43+08:0020.46056993497386
2026-09-02T18:08:48+08:0020.62951039143185
2026-09-02T18:09:36+08:0020.89
2026-09-02T19:48:31+08:0020.94799502741298
2026-09-02T19:48:46+08:0020.947660334055847
2026-09-02T19:48:51+08:0020.961191508351398
2026-09-02T19:49:07+08:0020.963040290705088
2026-09-02T19:49:17+08:0020.966785668749203
2026-09-02T19:49:22+08:0021.135726125207192
2026-09-02T20:03:49+08:0021.133431085043988
2026-09-02T20:03:53+08:0021.155122402142037
2026-09-02T20:04:08+08:0021.156859620043353
2026-09-02T20:04:17+08:0021.158325895703175
2026-09-02T20:18:58+08:0021.02
2026-09-02T21:32:45+08:0021.026998597475455
2026-09-02T21:32:50+08:0020.981049980874666
2026-09-02T21:33:04+08:0021.002279102384293
2026-09-02T21:33:14+08:0021.002358791278848
2026-09-02T21:33:19+08:0021.203174805559097
2026-09-02T22:06:47+08:0021.18698202218539
2026-09-02T22:07:01+08:0021.218315695524673
2026-09-02T22:07:13+08:0021.214012495218665
2026-09-02T22:07:18+08:0021.4
2026-09-03T08:37:56+08:0021.4819584342726
2026-09-03T08:38:04+08:0021.854902460793063
2026-09-03T08:38:39+08:0021.854743083003953
2026-09-03T08:38:54+08:0021.883223893918142
2026-09-03T08:40:00+08:0021.883223893918142
2026-09-03T08:40:10+08:0023.011618640826214
2026-09-03T09:04:14+08:0023.043047940838964
2026-09-03T09:04:35+08:0023.06198202218539
2026-09-03T09:05:31+08:0023.16589634068596
2026-09-03T09:05:33+08:0023.16978515874028
2026-09-03T09:05:36+08:0023.67023141654979
2026-09-03T09:11:15+08:0023.79
2026-09-03T10:05:26+08:0023.924359301287772
2026-09-03T10:06:52+08:0024.42
2026-09-03T11:05:18+08:0024.43910174678057
2026-09-03T11:05:34+08:0024.44
2026-09-03T12:00:55+08:0027.16
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
0.60
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
0.70
This model does not support allocation strategy adjustment

Actual vs Predicted Comparison

Using the actual oversubscription ratio 40.32x and current allocation strategy (Pool A α=0.604, Pool B α=0.704) as the baseline, comparing actual vs predicted expected allotment lots per tier

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

LogoLongsys 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
39.4x
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
0.60

Pool B

Oversubscription
39.4x
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
0.70
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 Longsys (09976): 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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