孖展动态 孖展倍数17.82x 孖展资金70.2亿 捷利预测倍数21.74x
排名 券商 孖展资金
1 富途证券富途 37.3亿
2 辉立证券辉立 10.0亿
3 老虎国际老虎 9.4亿
4 华泰国际华泰 3.3亿
5 信诚证券信诚 2.2亿
6 盈立证券盈立 2.1亿
7 长桥证券长桥 2.1亿
8 招银国际招银 1.8亿
10 华盛证券华盛 9500万
11 卓锐证券 7684万
12 艾德证券艾德 1865万
13 盈宝证券盈宝 705万
14 FunderstoneFunderstone 344万
15 TradeGo MarketsTradeGo 60万
孖展倍数
时间倍数
2025-11-07T06:00:00+08:000
2025-11-07T10:00:44+08:000.010254587912785237
2025-11-07T10:15:59+08:000.14432571007944767
2025-11-07T10:16:04+08:000.15955529608853466
2025-11-07T10:47:38+08:000.17173896489580426
2025-11-07T11:30:47+08:000.18036906363428687
2025-11-07T11:30:59+08:000.19831459248166103
2025-11-07T11:31:20+08:000.3659669517983603
2025-11-07T11:31:33+08:000.4694012234434094
2025-11-07T11:31:52+08:000.6572327842221489
2025-11-07T12:04:25+08:000.6674619894915856
2025-11-07T12:04:30+08:000.7061451379546666
2025-11-07T12:04:37+08:000.8300885854252862
2025-11-07T12:07:51+08:001.058532375561591
2025-11-07T13:36:32+08:001.0647003578952712
2025-11-07T13:36:50+08:001.1090946011117597
2025-11-07T13:37:23+08:001.160900576186004
2025-11-07T13:37:34+08:001.2598928852450695
2025-11-07T13:41:37+08:001.2903520572632434
2025-11-07T14:08:58+08:001.294362514912303
2025-11-07T14:09:17+08:001.4388405208518416
2025-11-07T14:09:36+08:001.6671827804147523
2025-11-07T14:09:50+08:001.8194786405056222
2025-11-07T14:10:27+08:001.9403761707744245
2025-11-07T15:07:03+08:001.964921186892403
2025-11-07T15:07:34+08:001.989060080716806
2025-11-07T15:07:53+08:001.8364088636190572
2025-11-07T15:08:12+08:001.976013402035688
2025-11-07T16:03:11+08:001.9849988577810493
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2025-11-07T16:03:52+08:001.9711399345127802
2025-11-07T16:17:06+08:001.9508338198339976
2025-11-07T17:02:50+08:001.9680686346676144
2025-11-07T17:03:12+08:002.7295479351219636
2025-11-07T17:03:42+08:002.7658958803969846
2025-11-07T17:04:15+08:002.7954920425413103
2025-11-07T17:10:33+08:002.9909383963245935
2025-11-07T17:24:55+08:003.0290123613473106
2025-11-07T18:02:52+08:003.033073584283067
2025-11-07T18:03:12+08:003.053125872528365
2025-11-07T18:03:24+08:003.0738381095007234
2025-11-07T18:05:15+08:003.100870624666853
2025-11-07T18:05:31+08:003.1516359113638095
2025-11-07T20:11:20+08:003.153641140188339
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2025-11-07T20:11:52+08:003.2408051374470137
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2025-11-07T21:41:28+08:003.3248470695738255
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2025-11-07T22:05:25+08:003.368606746706602
2025-11-07T22:05:36+08:003.370078940020814
2025-11-07T22:05:47+08:003.4233824910526183
2025-11-08T09:37:57+08:003.4272152701982384
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2025-11-08T09:38:25+08:003.366956874888951
2025-11-08T09:38:33+08:003.395030078432368
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2025-11-08T09:38:44+08:003.5388227530014977
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2025-11-08T09:39:17+08:003.6243114957991724
2025-11-08T10:01:02+08:003.6283981013782776
2025-11-08T10:07:40+08:003.63786582734726
2025-11-08T10:07:58+08:003.6784780567048254
2025-11-08T13:05:48+08:003.6792903012919767
2025-11-08T13:05:56+08:003.6614716856613447
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2025-11-08T13:06:56+08:003.720054826509633
2025-11-08T13:07:12+08:003.720232505013072
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2025-11-08T13:07:34+08:003.7071858263319544
2025-11-08T13:07:45+08:003.722415412341041
2025-11-08T17:09:18+08:003.7228215346346167
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2025-11-08T17:10:28+08:003.8332867984871943
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2025-11-08T20:04:01+08:003.8711577023631243
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2025-11-08T20:04:15+08:003.8722999213138056
2025-11-08T20:08:07+08:003.8799147143183492
2025-11-08T20:08:28+08:003.8928090971393763
2025-11-08T20:08:45+08:003.9918014061984417
2025-11-08T21:37:24+08:003.9920552326319263
2025-11-08T21:37:40+08:003.9971317613016217
2025-11-08T22:10:37+08:003.9904053608142753
2025-11-09T10:08:10+08:003.99266441607229
2025-11-09T10:08:19+08:003.9926897987156384
2025-11-09T10:10:17+08:004.0124121125974055
2025-11-09T10:10:27+08:004.0237835368175245
2025-11-09T10:11:05+08:004.024570398761327
2025-11-09T10:11:48+08:004.024240424397797
2025-11-09T10:13:18+08:004.024392720257888
2025-11-09T10:13:23+08:004.026144122648932
2025-11-09T10:13:31+08:004.03137294717872
2025-11-09T10:13:36+08:004.0270071325227805
2025-11-09T10:13:42+08:004.029113891920705
2025-11-09T10:14:16+08:004.049420006599488
2025-11-09T10:14:25+08:004.054496535269183
2025-11-09T10:14:35+08:004.082417442952509
2025-11-09T13:59:22+08:004.085641038657766
2025-11-09T13:59:30+08:004.085996395664645
2025-11-09T13:59:35+08:004.084295758560296
2025-11-09T14:00:05+08:004.0849303246440085
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2025-11-09T14:01:33+08:004.085514125441024
2025-11-09T14:01:45+08:004.086250222098129
2025-11-09T14:04:00+08:004.083610427189887
2025-11-09T14:04:10+08:004.085818717161205
2025-11-09T14:04:19+08:004.076477904408965
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2025-11-09T17:27:04+08:004.101378277533822
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2025-11-09T22:17:36+08:004.122293575652969
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2025-11-09T22:17:59+08:004.113358885194304
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2025-11-09T22:18:58+08:004.115287966088789
2025-11-09T22:19:07+08:004.115668705739016
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2025-11-09T22:25:26+08:004.224255653983806
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2025-11-09T22:25:37+08:004.295327055359545
2025-11-09T22:25:42+08:004.318171434373175
2025-11-10T08:42:13+08:004.298576033708151
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2025-11-10T08:43:53+08:004.304337893748255
2025-11-10T08:43:56+08:004.304363276391603
2025-11-10T08:43:59+08:004.304439424321649
2025-11-10T08:44:02+08:004.3053024341954975
2025-11-10T08:44:18+08:004.526131431327259
2025-11-10T08:44:43+08:004.526131431327259
2025-11-10T09:01:00+08:004.549077340914283
2025-11-10T09:02:14+08:004.554179252227327
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2025-11-10T09:03:54+08:004.607355890042389
2025-11-10T09:04:09+08:004.615224509480417
2025-11-10T09:12:52+08:004.638068888494048
2025-11-10T10:00:36+08:004.643018503947001
2025-11-10T10:03:13+08:004.641470162702744
2025-11-10T10:03:30+08:004.64136863212935
2025-11-10T10:05:20+08:005.060182247379242
2025-11-10T11:10:08+08:005.0669340305099375
2025-11-10T11:10:31+08:005.536512932456786
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2025-11-10T11:10:59+08:005.874330532781684
2025-11-10T12:05:37+08:005.872376069243851
2025-11-10T12:06:04+08:005.973932025281113
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2025-11-10T12:06:17+08:006.235424017057136
2025-11-10T13:47:28+08:006.240272101936696
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2025-11-10T13:51:41+08:006.349874355915425
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2025-11-10T14:04:33+08:006.562758585679113
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2025-11-10T17:10:45+08:008.035459552757825
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2025-11-10T18:11:44+08:008.805898926314187
2025-11-10T18:11:59+08:008.927735614386883
2025-11-10T18:14:09+08:008.947534076198695
2025-11-10T18:39:34+08:009.48056958651674
2025-11-10T19:32:56+08:009.504124679544129
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2025-11-11T12:04:37+08:0011.114704165291773
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2025-11-11T13:42:07+08:0011.174201081300607
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2025-11-11T15:19:05+08:0012.073685813640633
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2025-11-11T16:06:43+08:0012.471914105134909
2025-11-11T17:04:59+08:0012.525217656166713
2025-11-11T17:07:08+08:0013.12678630352565
2025-11-11T17:21:53+08:0013.177551590222606
2025-11-11T18:13:14+08:0013.964413534025434
2025-11-11T18:13:41+08:0013.928547858974033
2025-11-11T18:13:53+08:0014.10876462674823
2025-11-11T18:15:22+08:0014.297789171764348
2025-11-11T22:04:58+08:0014.315277813031448
2025-11-11T22:05:15+08:0014.406655329085972
2025-11-11T22:05:25+08:0014.415767698048075
2025-11-11T22:05:36+08:0014.593446201487422
2025-11-11T22:05:46+08:0014.731502398659796
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2025-11-11T22:06:02+08:0014.971901413813235
2025-11-11T22:06:11+08:0015.045511079523822
2025-11-12T08:33:56+08:0015.0767571134858
2025-11-12T08:34:04+08:0015.158565372997945
2025-11-12T08:34:31+08:0016.694215295580882
2025-11-12T08:34:44+08:0016.694215295580882
2025-11-12T09:04:42+08:0016.7439652765439
2025-11-12T09:09:06+08:0016.807421884915094
2025-11-12T09:10:58+08:0017.09292585729878
2025-11-12T10:03:25+08:0017.118308500647256
2025-11-12T10:04:09+08:0017.201385892326826
2025-11-12T10:46:00+08:0017.556742899205524
2025-11-12T18:07:59+08:0017.82
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
13,656
→
人均手数
35.4
→
认购倍数
9x
9x = 13,656 × 35.4 ÷ 52,113 A+H二次上市 · 参与×0.44 H股折价 37.3% 孖展加权 100% → 21.7x
1x2821.0x
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
0.63
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
0.73
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 27.9x 和当前分配手法 (甲组 α=0.633, 乙组 α=0.733) 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

标志中伟新材中签预测矩阵

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 中伟新材(02579)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