孖展动态 孖展倍数314.74x 孖展资金215.7亿 捷利预测倍数365.1x
排名 券商 孖展资金
1 富途证券富途 132.7亿
2 辉立证券辉立 34.0亿
3 老虎国际老虎 26.0亿
4 华泰国际华泰 13.6亿
5 华盛证券华盛 4.5亿
6 信诚证券信诚 1.5亿
8 盈立证券盈立 8522万
9 长桥证券长桥 8299万
10 卓锐证券 7236万
11 TradeGo MarketsTradeGo 6371万
12 盈宝证券盈宝 1938万
13 FunderstoneFunderstone 1281万
14 艾德证券艾德 421万
孖展倍数
时间倍数
2025-11-27T06:00:00+08:000
2025-11-27T10:04:17+08:000.0415815582141815
2025-11-27T10:05:04+08:000.14881820834549167
2025-11-27T10:06:03+08:000.20717829004960606
2025-11-27T11:10:22+08:000.24803034724248613
2025-11-27T11:10:50+08:000.5427487598482638
2025-11-27T11:11:54+08:002.206011088415524
2025-11-27T12:11:39+08:002.2127224978114968
2025-11-27T12:12:02+08:002.6936095710533996
2025-11-27T12:12:34+08:002.6415231981324774
2025-11-27T12:13:07+08:003.6044645462503646
2025-11-27T13:52:40+08:003.6359789903705866
2025-11-27T13:53:38+08:003.6603443244820544
2025-11-27T13:54:10+08:003.664137729792822
2025-11-27T13:54:47+08:003.751677852348993
2025-11-27T13:55:13+08:003.8975780566092793
2025-11-27T14:16:04+08:003.825941056317479
2025-11-27T14:16:34+08:003.8557046979865772
2025-11-27T14:17:31+08:003.868835716370003
2025-11-27T14:18:45+08:003.8834257367960316
2025-11-27T14:19:41+08:004.3708783192296465
2025-11-27T15:10:33+08:004.3873650423110595
2025-11-27T15:10:51+08:004.4400350160490225
2025-11-27T15:11:35+08:004.451123431572804
2025-11-27T15:12:10+08:004.830463962649548
2025-11-27T16:18:35+08:004.84184417858185
2025-11-27T16:19:47+08:004.873942223519113
2025-11-27T16:20:08+08:004.973154362416107
2025-11-27T16:21:05+08:005.4108549751969655
2025-11-27T16:32:20+08:005.848555587977823
2025-11-27T17:00:24+08:005.851035891450248
2025-11-27T17:03:30+08:006.585497519696528
2025-11-27T17:04:12+08:006.590458126641377
2025-11-27T17:06:27+08:007.217829004960607
2025-11-27T17:17:03+08:009.26043186460461
2025-11-27T18:02:03+08:009.263058068281296
2025-11-27T18:04:19+08:009.294572512401517
2025-11-27T18:04:24+08:009.304493726291216
2025-11-27T18:05:44+08:009.552524073533704
2025-11-27T18:14:01+08:009.859498103297344
2025-11-27T20:16:37+08:009.860373504522906
2025-11-27T20:16:43+08:0010.105923548292967
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2025-11-27T20:17:29+08:0010.488473883863437
2025-11-27T20:18:13+08:0010.485701779982492
2025-11-27T20:18:23+08:0010.502772103880945
2025-11-27T20:19:03+08:0010.517362124306974
2025-11-27T21:26:39+08:0010.518821126349577
2025-11-27T21:26:43+08:0010.55077327108258
2025-11-27T21:27:22+08:0011.367814414940181
2025-11-27T22:03:42+08:0011.370294718412605
2025-11-27T22:03:47+08:0011.370148818208346
2025-11-28T08:35:39+08:0011.374525824336153
2025-11-28T08:35:42+08:0011.400058360081704
2025-11-28T08:37:01+08:0011.446746425444996
2025-11-28T08:37:04+08:0011.446600525240735
2025-11-28T08:37:32+08:0011.986431281003794
2025-11-28T08:39:39+08:0011.986431281003794
2025-11-28T09:22:03+08:0012.052232273125183
2025-11-28T09:22:52+08:0012.051794572512401
2025-11-28T09:23:30+08:0012.299824919754888
2025-11-28T09:23:50+08:0012.302159323023051
2025-11-28T09:40:23+08:0012.375109425153195
2025-11-28T09:43:54+08:0012.763349868689817
2025-11-28T10:00:46+08:0012.77064487890283
2025-11-28T10:06:50+08:0012.753720455208637
2025-11-28T10:07:13+08:0012.757513860519405
2025-11-28T10:07:48+08:0013.005544207761892
2025-11-28T11:11:59+08:0012.991537788152904
2025-11-28T11:12:54+08:0012.996790195506273
2025-11-28T11:13:24+08:0013.33236066530493
2025-11-28T11:13:48+08:0013.287277502188504
2025-11-28T12:06:25+08:0013.294718412605778
2025-11-28T12:07:02+08:0013.34184417858185
2025-11-28T12:07:33+08:0013.370294718412605
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2025-11-28T13:45:01+08:0013.546979865771812
2025-11-28T13:45:26+08:0013.548730668222936
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2025-11-28T14:01:47+08:0015.11175955646338
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2025-11-28T21:04:05+08:0019.16939013714619
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2025-11-29T07:21:50+08:0020.003501604902247
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2025-11-29T19:02:13+08:0022.840968777356288
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2025-11-29T21:25:42+08:0023.130580682812955
2025-11-29T21:26:09+08:0023.320250948351326
2025-11-29T22:09:43+08:0023.320834549168367
2025-11-29T22:11:03+08:0023.481324773854684
2025-11-30T10:35:52+08:0023.40793697111176
2025-11-30T10:37:43+08:0022.864750510650715
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2025-11-30T10:40:51+08:0022.87277502188503
2025-11-30T10:42:21+08:0023.179165450831633
2025-11-30T10:42:26+08:0023.38342573679603
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2025-11-30T12:31:26+08:0023.457397140355997
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2025-11-30T12:32:26+08:0023.476801867522614
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2025-11-30T12:33:50+08:0023.512401517362125
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2025-11-30T17:23:14+08:0023.5709074992705
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2025-11-30T17:23:27+08:0023.587102421943392
2025-11-30T17:26:45+08:0023.588561423985993
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2025-11-30T17:30:40+08:0024.073679603151444
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2025-11-30T22:07:31+08:0024.064779690691566
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2025-12-01T08:45:48+08:0024.94776772687482
2025-12-01T08:46:03+08:0025.06696819375547
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2025-12-01T09:14:51+08:0026.138459293843013
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2025-12-01T11:11:08+08:0027.339655675517946
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2025-12-01T13:44:48+08:0030.05164867230814
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2025-12-01T14:02:21+08:0031.51561132185585
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2025-12-01T14:05:33+08:0034.22877152028013
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2025-12-01T15:15:50+08:0034.97067405894368
2025-12-01T15:16:19+08:0035.30668222935512
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2025-12-01T17:23:56+08:0072.6814998540998
2025-12-01T17:59:33+08:0085.81251823752554
2025-12-01T18:04:25+08:0086.86825211555296
2025-12-01T18:04:47+08:0088.73212722497811
2025-12-01T18:06:12+08:00105.84622118470966
2025-12-01T18:08:56+08:00109.27691858768603
2025-12-01T19:44:43+08:00111.02772103880946
2025-12-01T19:45:37+08:00114.08739422235192
2025-12-01T19:46:03+08:00124.66515903122264
2025-12-01T20:08:42+08:00126.35555879778232
2025-12-01T20:09:17+08:00136.77283338196673
2025-12-01T21:35:52+08:00139.55996498395098
2025-12-01T21:36:18+08:00143.63058068281296
2025-12-01T22:03:39+08:00149.06623869273417
2025-12-01T22:08:24+08:00161.55529617741465
2025-12-02T08:54:43+08:00164.30391012547418
2025-12-02T08:54:55+08:00172.36825211555296
2025-12-02T08:55:20+08:00239.70119638167495
2025-12-02T08:56:23+08:00239.70119638167495
2025-12-02T09:05:16+08:00241.56215348701488
2025-12-02T09:05:49+08:00259.9018091625328
2025-12-02T09:07:17+08:00274.2143274000584
2025-12-02T09:27:03+08:00277.8910125474176
2025-12-02T09:32:01+08:00305.6120513568719
2025-12-02T10:23:24+08:00307.4744674642545
2025-12-02T17:16:42+08:00313.31047563466586
2025-12-02T17:27:07+08:00314.74
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
17,819
→
人均手数
82.1
→
认购倍数
75x
75x = 17,819 × 82.1 ÷ 19,473 孖展加权 100% → 365.1x
1x14588.0x
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 425.97x 和当前分配手法 (甲组 α=0.540, 乙组 α=0.640) 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

标志遇见小面中签预测矩阵

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 遇见小面(02408)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