孖展动态 孖展倍数1337.49x 孖展资金910.1亿 捷利预测倍数1604.98x
排名 券商 孖展资金
1 富途证券富途 444.5亿
2 辉立证券辉立 292.0亿
3 老虎国际老虎 94.6亿
4 华泰国际华泰 39.5亿
5 华盛证券华盛 16.5亿
6 卓锐证券 5.8亿
8 信诚证券信诚 5.0亿
9 长桥证券长桥 3.8亿
10 盈立证券盈立 3.3亿
11 TradeGo MarketsTradeGo 3.1亿
12 盈宝证券盈宝 9000万
13 FunderstoneFunderstone 6279万
14 艾德证券艾德 4005万
孖展倍数
时间倍数
2025-12-08T06:00:00+08:000
2025-12-08T10:19:37+08:000.008671369782480894
2025-12-08T10:20:04+08:000.2588183421516755
2025-12-08T10:20:13+08:000.32598471487360375
2025-12-08T10:20:19+08:000.5317460317460317
2025-12-08T10:20:22+08:000.6052322163433275
2025-12-08T11:11:01+08:000.6527042915931804
2025-12-08T11:11:04+08:000.9343033509700176
2025-12-08T11:11:07+08:001.010435038212816
2025-12-08T11:11:10+08:002.127425044091711
2025-12-08T12:03:22+08:002.2009112286890065
2025-12-08T12:03:51+08:002.2088477366255144
2025-12-08T12:03:56+08:002.6328630217519104
2025-12-08T12:03:59+08:003.2494121105232217
2025-12-08T13:48:54+08:004.704438565549677
2025-12-08T13:48:58+08:004.741769547325103
2025-12-08T13:49:04+08:004.523221634332746
2025-12-08T13:49:07+08:004.659905937683716
2025-12-08T13:49:10+08:004.76278659611993
2025-12-08T14:01:03+08:004.750293944738389
2025-12-08T14:01:34+08:006.412992357436802
2025-12-08T15:22:15+08:006.4641387419165195
2025-12-08T15:22:17+08:006.513521457965902
2025-12-08T15:22:34+08:006.602145796590241
2025-12-08T15:22:41+08:006.701058201058201
2025-12-08T15:23:03+08:007.053791887125221
2025-12-08T15:23:05+08:007.23015873015873
2025-12-08T15:23:13+08:007.296590241034686
2025-12-08T16:12:01+08:007.364491475602587
2025-12-08T16:12:04+08:007.500440917107584
2025-12-08T16:12:06+08:007.571134626690182
2025-12-08T16:12:09+08:008.688124632569076
2025-12-08T16:13:00+08:008.98206937095826
2025-12-08T17:29:04+08:009.129041740152852
2025-12-08T17:29:18+08:009.175338036449148
2025-12-08T17:29:21+08:0013.46222810111699
2025-12-08T17:29:24+08:0014.065696649029983
2025-12-08T17:29:27+08:0018.88639035861258
2025-12-08T18:07:25+08:0019.76822457378013
2025-12-08T18:07:30+08:0019.77278071722516
2025-12-08T18:07:35+08:0020.234567901234566
2025-12-08T18:07:40+08:0021.11463844797178
2025-12-08T18:07:45+08:0026.185185185185187
2025-12-08T18:08:33+08:0027.27087007642563
2025-12-08T21:26:08+08:0027.594209288653733
2025-12-08T21:26:13+08:0027.598471487360378
2025-12-08T21:26:19+08:0028.03938859494415
2025-12-08T21:26:24+08:0028.52910052910053
2025-12-08T21:26:29+08:0028.82995296884186
2025-12-08T21:26:34+08:0030.31437389770723
2025-12-08T21:26:41+08:0030.248236331569665
2025-12-08T21:26:46+08:0030.762345679012345
2025-12-08T21:26:51+08:0033.59891240446796
2025-12-08T21:26:57+08:0033.613462669018226
2025-12-08T21:27:02+08:0034.428718400940625
2025-12-08T21:27:11+08:0036.133597883597886
2025-12-08T22:04:11+08:0037.24294532627866
2025-12-08T22:04:15+08:0037.380805408583186
2025-12-09T08:36:42+08:0037.32010582010582
2025-12-09T08:36:45+08:0039.41813639035861
2025-12-09T08:38:02+08:0038.96649029982363
2025-12-09T08:38:05+08:0038.85670194003527
2025-12-09T08:38:26+08:0040.532186948853614
2025-12-09T08:38:30+08:0046.719723691945916
2025-12-09T08:39:04+08:0046.719723691945916
2025-12-09T09:03:07+08:0047.16710758377425
2025-12-09T09:03:24+08:0047.14564961787184
2025-12-09T09:03:27+08:0047.2473544973545
2025-12-09T09:24:08+08:0049.055114638447975
2025-12-09T09:44:44+08:0049.789976484420926
2025-12-09T10:08:16+08:0049.828630217519105
2025-12-09T10:08:36+08:0050.509406231628454
2025-12-09T10:08:46+08:0054.13962375073486
2025-12-09T10:08:56+08:0054.2120811287478
2025-12-09T10:09:41+08:0056.834362139917694
2025-12-09T11:00:36+08:0057.40432098765432
2025-12-09T11:05:43+08:0057.62477954144621
2025-12-09T11:05:53+08:0057.931804820693706
2025-12-09T11:06:07+08:0060.753674309229865
2025-12-09T12:06:17+08:0060.9591416813639
2025-12-09T12:06:28+08:0061.06878306878307
2025-12-09T12:06:30+08:0061.50396825396825
2025-12-09T12:06:39+08:0064.38462669018224
2025-12-09T13:44:43+08:0064.51234567901234
2025-12-09T13:44:54+08:0064.43048206937095
2025-12-09T13:45:07+08:0065.5327748383304
2025-12-09T13:45:32+08:0065.58054085831864
2025-12-09T14:00:35+08:0065.62257495590829
2025-12-09T14:01:04+08:0066.34847148736037
2025-12-09T14:06:17+08:0066.40079365079364
2025-12-09T14:06:23+08:0066.48030570252793
2025-12-09T14:06:34+08:0069.41975308641975
2025-12-09T15:01:14+08:0069.4620811287478
2025-12-09T15:04:00+08:0069.3775720164609
2025-12-09T15:04:08+08:0069.84141681363903
2025-12-09T15:06:44+08:0073.0160199882422
2025-12-09T16:14:10+08:0073.12360376249265
2025-12-09T16:14:33+08:0074.53982951205174
2025-12-09T16:14:48+08:0078.62566137566138
2025-12-09T16:14:59+08:0078.72751322751323
2025-12-09T16:41:54+08:0079.90329218106996
2025-12-09T17:02:07+08:0079.99559082892416
2025-12-09T17:03:24+08:0082.06966490299824
2025-12-09T17:03:36+08:0082.34611992945327
2025-12-09T17:36:40+08:0089.98868312757202
2025-12-09T17:37:24+08:00102.77527924750147
2025-12-09T18:06:17+08:00103.8040858318636
2025-12-09T18:06:39+08:00103.93547912992358
2025-12-09T18:07:00+08:00105.18841857730746
2025-12-09T18:07:05+08:00105.78880070546737
2025-12-09T18:07:21+08:00113.4754556143445
2025-12-09T18:08:27+08:00115.47707231040565
2025-12-09T21:48:39+08:00115.6524103468548
2025-12-09T21:48:49+08:00115.78057025279247
2025-12-09T21:48:54+08:00116.25338036449148
2025-12-09T21:49:09+08:00121.47089947089947
2025-12-09T21:49:19+08:00121.53689006466784
2025-12-09T21:49:23+08:00122.06452087007642
2025-12-09T21:49:38+08:00124.16622574955909
2025-12-09T21:50:11+08:00124.18283362727807
2025-12-09T21:50:16+08:00125.17842445620224
2025-12-09T21:50:31+08:00127.22134038800705
2025-12-09T22:05:42+08:00128.79570840681953
2025-12-09T22:05:47+08:00128.87566137566137
2025-12-09T22:06:11+08:00132.47648442092887
2025-12-10T08:36:52+08:00132.5163139329806
2025-12-10T08:36:55+08:00132.80776014109347
2025-12-10T08:38:03+08:00133.50146972369194
2025-12-10T08:38:06+08:00135.06084656084656
2025-12-10T08:39:06+08:00150.77219282774837
2025-12-10T08:39:24+08:00150.77219282774837
2025-12-10T09:05:25+08:00150.83274544385657
2025-12-10T09:05:46+08:00151.0299823633157
2025-12-10T09:05:56+08:00153.35214579659024
2025-12-10T09:06:12+08:00153.413139329806
2025-12-10T09:07:09+08:00154.46693121693121
2025-12-10T09:50:15+08:00155.8337742504409
2025-12-10T10:06:01+08:00156.96061140505586
2025-12-10T10:06:30+08:00157.18356848912404
2025-12-10T10:06:44+08:00157.9134332745444
2025-12-10T10:07:04+08:00173.13977072310405
2025-12-10T11:04:49+08:00173.43121693121694
2025-12-10T11:04:58+08:00173.54188712522046
2025-12-10T11:05:10+08:00177.22721928277483
2025-12-10T11:05:26+08:00196.02498530276307
2025-12-10T11:38:57+08:00197.6416813639036
2025-12-10T12:03:38+08:00197.7743974132863
2025-12-10T12:04:03+08:00200.34376837154616
2025-12-10T12:04:32+08:00200.52792475014698
2025-12-10T12:09:14+08:00210.50734861845973
2025-12-10T13:50:04+08:00210.5983245149912
2025-12-10T13:50:19+08:00211.3641975308642
2025-12-10T13:50:32+08:00219.2713109935332
2025-12-10T13:50:46+08:00220.15314520870078
2025-12-10T13:51:03+08:00220.385949441505
2025-12-10T14:05:04+08:00222.42871840094062
2025-12-10T14:05:31+08:00222.55349794238683
2025-12-10T14:05:43+08:00222.84038800705468
2025-12-10T14:05:56+08:00233.27542621987067
2025-12-10T14:09:23+08:00238.95032333921222
2025-12-10T15:11:14+08:00239.78453850676073
2025-12-10T15:11:24+08:00242.2633744855967
2025-12-10T15:11:36+08:00254.05055849500295
2025-12-10T15:11:54+08:00254.09347442680777
2025-12-10T15:53:12+08:00259.9723691945914
2025-12-10T16:07:50+08:00262.4545855379189
2025-12-10T16:08:02+08:00273.5950911228689
2025-12-10T17:16:02+08:00278.6377131099353
2025-12-10T17:16:13+08:00300.81584362139915
2025-12-10T17:50:04+08:00403.69650205761315
2025-12-10T18:03:26+08:00406.9298941798942
2025-12-10T18:04:01+08:00410.4110817166373
2025-12-10T18:04:51+08:00415.71310993533217
2025-12-10T18:05:45+08:00428.9700176366843
2025-12-10T20:04:57+08:00434.114785420341
2025-12-10T20:05:12+08:00457.79203409758964
2025-12-10T20:05:41+08:00461.05085243974133
2025-12-10T20:05:51+08:00486.65343915343914
2025-12-10T21:34:24+08:00492.09950029394474
2025-12-10T21:34:34+08:00519.6274250440918
2025-12-10T22:12:57+08:00530.3556731334509
2025-12-10T22:13:10+08:00570.4056437389771
2025-12-11T08:44:26+08:00790.9082892416226
2025-12-11T08:44:47+08:00799.9582598471487
2025-12-11T08:44:53+08:00830.2214873603763
2025-12-11T08:45:09+08:00830.2214873603763
2025-12-11T09:21:57+08:00845.7751322751323
2025-12-11T09:22:07+08:00943.879188712522
2025-12-11T09:23:32+08:001199.611111111111
2025-12-11T09:23:41+08:001213.5
2025-12-11T09:26:14+08:001251.4579659024103
2025-12-11T10:00:16+08:001260.0121987066432
2025-12-11T10:08:46+08:001272.852733686067
2025-12-11T17:15:06+08:001337.49
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
-0.2%
→
参与人数
9,783
→
人均手数
147.7
→
认购倍数
43x
43x = 9,783 × 147.7 ÷ 33,853 孖展加权 100% → 1605.0x
1x14696.0x
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
0.36
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
0.40
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 1890.73x 和当前分配手法 (甲组 α=0.359, 乙组 α=0.400) 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

标志果下科技中签预测矩阵

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 果下科技(02655)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