孖展动态 孖展倍数663.28x 孖展资金808.7亿 捷利预测倍数862.26x
排名 券商 孖展资金
1 富途证券富途 397.6亿
2 辉立证券辉立 232.0亿
3 老虎国际老虎 83.0亿
4 华泰国际华泰 30.0亿
5 致富证券致富 17.3亿
6 华盛证券华盛 12.0亿
7 复星国际复星 9.9亿
8 熊猫证券熊猫 9.9亿
9 盈立证券盈立 7.9亿
孖展倍数
时间倍数
2026-06-15T06:00:00+08:000
2026-06-15T10:10:10+08:000.013779527559055118
2026-06-15T10:10:17+08:000.022883858267716536
2026-06-15T10:10:24+08:000.023211942257217847
2026-06-15T10:10:31+08:000.031414041994750654
2026-06-15T11:07:44+08:000.03674540682414698
2026-06-15T11:08:43+08:000.03937007874015748
2026-06-15T11:09:55+08:000.05561023622047244
2026-06-15T11:11:20+08:000.09662073490813648
2026-06-15T12:10:18+08:000.11433727034120734
2026-06-15T12:11:20+08:000.11794619422572178
2026-06-15T12:11:52+08:000.12262139107611549
2026-06-15T12:12:19+08:000.1390255905511811
2026-06-15T12:14:07+08:000.1533792650918635
2026-06-15T12:15:07+08:000.15592191601049868
2026-06-15T13:46:26+08:000.15805446194225722
2026-06-15T13:47:41+08:000.16404199475065617
2026-06-15T13:48:15+08:000.16847112860892388
2026-06-15T13:49:25+08:000.16953740157480315
2026-06-15T13:49:56+08:000.17068569553805774
2026-06-15T14:01:20+08:000.17273622047244094
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2026-06-15T14:03:32+08:000.17765748031496062
2026-06-15T14:04:00+08:000.17954396325459318
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2026-06-15T14:07:25+08:000.2053805774278215
2026-06-15T15:09:26+08:000.23113517060367453
2026-06-15T15:11:39+08:000.2339238845144357
2026-06-15T15:12:09+08:000.23613845144356954
2026-06-15T15:12:36+08:000.23671259842519685
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2026-06-15T16:34:53+08:000.5589730971128609
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2026-06-15T20:24:39+08:004.623113517060368
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2026-06-15T21:47:39+08:004.70874343832021
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2026-06-15T22:07:33+08:004.885990813648294
2026-06-15T22:08:01+08:005.197670603674541
2026-06-16T08:51:04+08:005.197670603674541
2026-06-16T08:52:01+08:005.213418635170604
2026-06-16T08:52:06+08:005.226952099737533
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2026-06-16T09:00:40+08:005.869750656167979
2026-06-16T09:07:27+08:006.365731627296588
2026-06-16T09:09:40+08:006.436023622047244
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2026-06-16T09:11:23+08:006.619668635170604
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2026-06-16T09:30:41+08:006.748687664041995
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2026-06-16T11:15:32+08:006.975721784776903
2026-06-16T11:15:57+08:006.978920603674541
2026-06-16T11:16:16+08:006.984251968503937
2026-06-16T11:17:00+08:007.003280839895013
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2026-06-16T12:04:07+08:007.4496391076115485
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2026-06-16T12:08:38+08:007.5463418635170605
2026-06-16T13:44:38+08:007.552247375328084
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2026-06-16T14:01:08+08:007.866305774278215
2026-06-16T14:01:59+08:007.868028215223097
2026-06-16T14:03:44+08:007.910515091863517
2026-06-16T14:07:25+08:007.947752624671916
2026-06-16T14:07:54+08:007.948408792650919
2026-06-16T14:08:10+08:008.137057086614174
2026-06-16T15:08:34+08:008.13713910761155
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2026-06-16T15:10:43+08:008.614501312335959
2026-06-16T16:00:59+08:008.634350393700787
2026-06-16T16:01:42+08:008.64255249343832
2026-06-16T16:04:45+08:008.647801837270341
2026-06-16T16:05:01+08:008.64870406824147
2026-06-16T16:05:33+08:008.650918635170603
2026-06-16T16:06:11+08:008.749343832020998
2026-06-16T17:20:28+08:008.759186351706036
2026-06-16T17:21:31+08:008.770751312335959
2026-06-16T17:22:05+08:008.774606299212598
2026-06-16T17:22:32+08:008.79478346456693
2026-06-16T17:23:24+08:008.802001312335959
2026-06-16T17:23:53+08:009.269520997375327
2026-06-16T18:03:36+08:009.330872703412073
2026-06-16T18:04:05+08:0013.103838582677165
2026-06-16T18:04:30+08:0013.107857611548557
2026-06-16T18:04:53+08:0013.11482939632546
2026-06-16T18:05:14+08:0013.117043963254593
2026-06-16T18:05:49+08:0013.118438320209973
2026-06-16T18:06:27+08:0013.151246719160104
2026-06-16T18:08:04+08:0013.838008530183727
2026-06-16T20:14:59+08:0013.840223097112862
2026-06-16T20:15:49+08:0013.849327427821523
2026-06-16T20:27:07+08:0013.855643044619423
2026-06-16T20:28:07+08:0013.866551837270341
2026-06-16T20:29:02+08:0013.909120734908136
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2026-06-16T20:30:46+08:0014.171587926509186
2026-06-16T21:56:28+08:0014.172900262467191
2026-06-16T22:06:42+08:0014.361548556430446
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2026-06-16T22:07:55+08:0014.698244750656167
2026-06-17T09:17:12+08:0014.764435695538058
2026-06-17T09:17:19+08:0014.765419947506562
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2026-06-17T09:17:38+08:0014.964730971128608
2026-06-17T09:17:45+08:0014.99844160104987
2026-06-17T09:17:51+08:0015.523375984251969
2026-06-17T09:18:15+08:0015.64730971128609
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2026-06-17T09:19:36+08:0015.777723097112862
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2026-06-17T09:19:49+08:0016.273047900262466
2026-06-17T10:10:01+08:0016.307004593175854
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2026-06-17T10:10:20+08:0016.288549868766403
2026-06-17T10:10:27+08:0016.298310367454068
2026-06-17T10:10:37+08:0022.835383858267715
2026-06-17T11:16:07+08:0022.910515091863516
2026-06-17T11:16:31+08:0022.92691929133858
2026-06-17T11:17:30+08:0023.029035433070867
2026-06-17T11:18:40+08:0023.0309219160105
2026-06-17T11:19:22+08:0023.046751968503937
2026-06-17T11:20:08+08:0023.481463254593177
2026-06-17T12:14:22+08:0023.538713910761153
2026-06-17T12:15:15+08:0023.56077755905512
2026-06-17T12:16:53+08:0023.69996719160105
2026-06-17T12:19:16+08:0023.716535433070867
2026-06-17T12:20:08+08:0023.788139763779526
2026-06-17T12:20:53+08:0024.17363845144357
2026-06-17T13:43:37+08:0024.208497375328083
2026-06-17T13:44:38+08:0024.21596128608924
2026-06-17T13:46:16+08:0024.286581364829395
2026-06-17T13:46:26+08:0024.42749343832021
2026-06-17T13:48:23+08:0024.42937992125984
2026-06-17T13:50:08+08:0024.5688156167979
2026-06-17T14:08:16+08:0024.63886154855643
2026-06-17T14:09:01+08:0024.642060367454068
2026-06-17T14:10:50+08:0024.686187664041995
2026-06-17T14:10:58+08:0024.694553805774277
2026-06-17T14:11:52+08:0024.69627624671916
2026-06-17T14:12:43+08:0025.557496719160106
2026-06-17T14:14:53+08:0026.43348097112861
2026-06-17T15:07:21+08:0026.44890091863517
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2026-06-17T15:09:33+08:0026.508366141732285
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2026-06-17T15:11:21+08:0027.70242782152231
2026-06-17T16:27:24+08:0027.71522309711286
2026-06-17T16:28:22+08:0028.583825459317584
2026-06-17T16:31:36+08:0033.99040354330709
2026-06-17T16:32:11+08:0034.00295275590551
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2026-06-17T16:34:39+08:0044.050524934383205
2026-06-17T16:35:37+08:0044.10687335958005
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2026-06-17T17:01:39+08:0046.73728674540683
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2026-06-17T17:04:36+08:0052.45718503937008
2026-06-17T17:05:11+08:0052.463582677165356
2026-06-17T17:06:25+08:0054.04125656167979
2026-06-17T17:07:01+08:0079.48416994750656
2026-06-17T18:04:01+08:0079.86802821522309
2026-06-17T18:04:50+08:0080.79232283464567
2026-06-17T18:07:15+08:0081.54429133858268
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2026-06-17T18:08:26+08:0086.52944553805774
2026-06-17T18:09:16+08:00102.37590223097114
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2026-06-17T20:22:19+08:00139.13935367454067
2026-06-17T20:23:07+08:00141.0873523622047
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2026-06-17T20:25:23+08:00142.13918963254594
2026-06-17T20:26:32+08:00146.1326279527559
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2026-06-17T20:33:06+08:00168.8946030183727
2026-06-17T22:23:36+08:00170.0209153543307
2026-06-17T22:25:09+08:00172.62089895013122
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2026-06-17T22:26:17+08:00175.01845472440945
2026-06-17T22:26:58+08:00183.11327099737534
2026-06-17T22:28:30+08:00231.62048884514437
2026-06-18T09:05:09+08:00238.125656167979
2026-06-18T09:05:15+08:00239.00451115485563
2026-06-18T09:05:21+08:00242.04749015748033
2026-06-18T09:05:41+08:00242.04749015748033
2026-06-18T09:05:48+08:00260.7299868766404
2026-06-18T09:05:53+08:00262.8341535433071
2026-06-18T09:06:06+08:00367.9604658792651
2026-06-18T09:06:19+08:00370.24811351706035
2026-06-18T09:06:32+08:00377.87073490813646
2026-06-18T09:06:38+08:00381.8077427821522
2026-06-18T09:06:51+08:00385.6069553805774
2026-06-18T09:06:57+08:00387.41543635170603
2026-06-18T09:07:03+08:00387.6672408136483
2026-06-18T09:07:11+08:00410.87098097112863
2026-06-18T10:01:26+08:00411.63377624671915
2026-06-18T10:01:42+08:00413.16395997375326
2026-06-18T10:10:22+08:00423.71448490813646
2026-06-18T10:10:28+08:00485.52550853018374
2026-06-18T10:46:54+08:00638.9047736220473
2026-06-18T11:22:12+08:00639.8280839895014
2026-06-18T14:21:55+08:00663.28
捷利预测倍数
时间倍数
券商孖展资金走势
时间券商孖展资金
预测模型 一手期望中签手数— 期望中签1手所需手数—
倍数推导
近期首日表现
+4.6%
→
参与人数
17,871
→
人均手数
76.2
→
认购倍数
47x
47x = 17,871 × 76.2 ÷ 29,028 孖展加权 100% → 862.3x
1x9464.0x
分配手法系数 α
分配手法系数
反映发行人对不同申购规模的分配偏好。
α → 0  人均分配 — 每人获配相同股数,与申购手数无关。
α → 1  按申购量比例分配 — 申购手数越多,获配越多。
历史 α 区间(P10–P90):甲组 0.3 – 0.9,乙组 0.4 – 1.0
0.54
分配手法系数 α
分配手法系数
反映发行人对不同申购规模的分配偏好。
α → 0  人均分配 — 每人获配相同股数,与申购手数无关。
α → 1  按申购量比例分配 — 申购手数越多,获配越多。
历史 α 区间(P10–P90):甲组 0.3 – 0.9,乙组 0.4 – 1.0
0.64
此模型不适用分配手法调节

实际 vs 预测 对比

以实际认购倍数 1032.91x 和当前分配手法 (甲组 α=0.537, 乙组 α=0.637) 为基准,对比各档位的实际与预测期望中签手数

申购手数 认购金额(HKD) 实际期望中签 预测期望中签 偏差

标志麦科医药-B中签预测矩阵

行为申购档位,列为不同认购倍数,数值为期望中签手数,绿色背景表示期望中签≥1手;非预设倍数由相邻网格插值估计。

发售机制说明

机制B

《第18项应用指引》下的灵活发售机制。最低初订分配份额为发售股份的10%,不设回补机制。最高初订分配份额为发售股份的60%(因《第18项应用指引》规定发售股份总数至少40%须分配予配售部分投资者,基石投资者除外)。发行人可根据发售结构、市场状况及散户投资者利益,自行厘定公开认购部分的初订分配份额。

分配手法系数 α

α 为发行人分配偏好系数,描述发行人对不同申购规模的分配倾向。α 取值范围 [0, 1]。

  • α → 0:人均分配——无论申购多少手,每位中签者获配股数相同。对散户(小单申购)更有利。
  • α → 1:比例分配——获配股数与申购手数成正比。对大额申购更有利。
  • 历史实际 α 区间(P10–P90):甲组 0.3–0.9,乙组 0.4–1.0。不同IPO的α值差异较大,反映发行人各自的分配策略。
中签率定义

本页面的「中签率」定义与港交所配发结果公告完全一致:中签率 = 该档位获配股份总数 ÷ 该档位有效申请股份总数 × 100%。此为港交所官方口径,与其他网站可能使用的不同定义(如「申购人数中签比例」)有本质区别。

期望中签手数

期望中签手数 = 该档位获配总股数 ÷ 每手股数 ÷ 该档位申购人数

例:某档位获配总股数 50,000 股,每手 100 股,申购人数 500 人 → 期望中签手数 = 50,000 ÷ 100 ÷ 500 = 1.0 手。

关于本页

本页展示 麦科医药-B(02335)的中签预测:基于相似 IPO 匹配的期望中签率、甲乙组资金效率对比。
默认认购倍数按「近期首日表现 → 参与人数 → 人均手数 → 认购倍数」链条推导,公式为 认购倍数 = 参与人数 × 人均手数 ÷ 公开发售手数;其中参与人数与人均手数以近期 IPO 的中位数为基准,再按发行规模、A+H 身份、H 股折溢价、行业、并发 IPO、保荐人历史表现与恒指近期走势等特征调节。
认购窗口前期默认倍数以模型推导为准;随认购进度推进逐步结合孖展倍数加权;临近截止(进度约九成后)默认倍数以孖展倍数预测为准。
中签率预测基于历史 592 只 IPO 的 22087 条配发档位数据做回归拟合与 KNN 相似匹配,估计各申购档位的期望中签手数,并结合分配手法系数 α(人均分配至比例分配)给出区间。你可以自定义认购倍数与分配手法系数 α,覆盖 cibo 的默认预测,查看不同场景下的期望中签手数。中签率的计算方式与回拨规则见港股中签率怎么算。
数据来源:港交所披露易平台公开发售配发结果公告、招股说明书、FINI 平台公告;孖展数据(孖展倍数、捷利预测倍数及券商明细)来自捷利交易宝(TradeGo),倍数仅覆盖已上报券商,捷利预测倍数为全市场外推值。
孖展倍数盘中实时更新;中签率预测模型随新股配发数据入库不定期迭代。

Cibo — 港股IPO中签率预测、中签画像与入通分析