孖展动态 孖展倍数15.18x 孖展资金10.8亿 捷利预测倍数18.52x
排名 券商 孖展资金
1 富途证券富途 5.6亿
2 辉立证券辉立 1.6亿
3 老虎国际老虎 1.6亿
4 信诚证券信诚 6000万
5 华泰国际华泰 5326万
6 长桥证券长桥 2708万
7 盈立证券盈立 2478万
8 华盛证券华盛 1655万
9 卓锐证券 1133万
11 艾德证券艾德 232万
12 TradeGo MarketsTradeGo 101万
13 盈宝证券盈宝 9万
孖展倍数
时间倍数
2025-12-11T06:00:00+08:000
2025-12-11T10:00:05+08:000.007311586051743532
2025-12-11T10:08:58+08:000.2237064116985377
2025-12-11T10:09:11+08:000.3502530933633296
2025-12-11T11:05:57+08:000.3572834645669291
2025-12-11T11:06:56+08:000.37570303712035996
2025-12-11T11:07:18+08:000.7412823397075365
2025-12-11T11:50:55+08:000.7560461192350956
2025-12-11T12:02:10+08:000.7620922384701913
2025-12-11T12:09:41+08:000.7806524184476941
2025-12-11T12:10:02+08:000.7911979752530933
2025-12-11T12:10:22+08:000.875562429696288
2025-12-11T13:45:24+08:000.8799212598425197
2025-12-11T13:45:56+08:000.9295556805399325
2025-12-11T13:46:13+08:001.0982845894263218
2025-12-11T13:46:40+08:001.1022215973003375
2025-12-11T14:04:10+08:001.1062992125984252
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2025-12-11T14:05:44+08:001.1671822272215973
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2025-12-11T16:11:02+08:002.5555399325084363
2025-12-11T17:14:25+08:002.5598987626546683
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2025-12-11T17:31:31+08:002.5912542182227223
2025-12-11T17:31:45+08:004.728487064116985
2025-12-11T18:01:04+08:004.7481721034870645
2025-12-11T18:01:56+08:004.830286839145107
2025-12-11T18:03:43+08:004.830708661417323
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2025-12-11T18:07:11+08:004.891310461192351
2025-12-11T20:07:05+08:004.891591676040495
2025-12-11T20:07:40+08:004.894544431946007
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2025-12-11T21:42:36+08:004.768419572553431
2025-12-11T21:42:55+08:004.7703880764904385
2025-12-11T22:03:19+08:004.7702474690663665
2025-12-11T22:03:39+08:004.804274465691789
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2025-12-12T07:33:21+08:004.903121484814398
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2025-12-12T07:33:29+08:004.913667041619798
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2025-12-12T09:30:51+08:005.192632170978627
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2025-12-12T10:16:37+08:005.294431946006749
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2025-12-12T11:13:14+08:005.392575928008998
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2025-12-12T12:04:48+08:005.403824521934758
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2025-12-12T17:35:10+08:006.074381327334083
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2025-12-12T20:23:02+08:006.385264341957256
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2025-12-12T22:19:34+08:006.437289088863892
2025-12-12T22:19:54+08:006.401715410573678
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2025-12-13T10:37:02+08:006.5704443194600675
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2025-12-13T22:16:03+08:007.413245219347582
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2025-12-14T10:14:11+08:007.975674915635546
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2025-12-14T10:20:54+08:008.00843644544432
2025-12-14T12:45:50+08:008.022497187851519
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2025-12-14T12:47:10+08:008.09181664791901
2025-12-14T12:50:31+08:008.092238470191226
2025-12-14T12:50:52+08:008.090269966254219
2025-12-14T15:48:46+08:008.090551181102363
2025-12-14T15:49:09+08:008.097300337457817
2025-12-14T15:53:35+08:008.111361079865016
2025-12-14T15:58:40+08:008.111782902137232
2025-12-14T15:58:46+08:008.11304836895388
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2025-12-14T16:06:53+08:008.11431383577053
2025-12-14T16:06:58+08:008.118110236220472
2025-12-14T16:07:02+08:008.118391451068616
2025-12-14T16:10:11+08:008.137092238470192
2025-12-14T16:10:47+08:008.16521372328459
2025-12-14T21:02:24+08:008.165354330708661
2025-12-14T21:02:28+08:008.165635545556805
2025-12-14T21:02:32+08:008.277980877390327
2025-12-14T21:02:37+08:008.279808773903262
2025-12-14T21:11:44+08:008.280793025871766
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2025-12-14T21:14:26+08:008.28318335208099
2025-12-15T08:42:36+08:008.285573678290215
2025-12-15T08:42:39+08:008.285714285714286
2025-12-15T08:44:38+08:008.292744656917884
2025-12-15T08:46:11+08:008.53177727784027
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2025-12-15T09:18:07+08:008.548931383577052
2025-12-15T09:18:25+08:008.549212598425196
2025-12-15T09:18:47+08:008.732002249718786
2025-12-15T09:19:49+08:008.816366704161979
2025-12-15T09:21:12+08:008.848284589426322
2025-12-15T09:22:07+08:008.895247469066367
2025-12-15T10:16:39+08:008.931242969628796
2025-12-15T10:17:04+08:008.949943757030372
2025-12-15T10:18:20+08:009.037823397075366
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2025-12-15T11:15:33+08:009.370922384701911
2025-12-15T11:16:53+08:009.4392575928009
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2025-12-15T11:18:45+08:009.66521372328459
2025-12-15T12:05:05+08:009.688132733408324
2025-12-15T12:06:27+08:009.689116985376828
2025-12-15T12:07:35+08:009.705005624296962
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2025-12-15T13:45:16+08:009.229049493813273
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2025-12-15T13:50:34+08:009.265044994375703
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2025-12-15T15:09:47+08:008.883014623172103
2025-12-15T15:11:25+08:008.921119235095613
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2025-12-15T15:12:50+08:009.772778402699663
2025-12-15T15:31:42+08:009.913385826771654
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2025-12-15T16:10:23+08:009.899184476940382
2025-12-15T17:12:46+08:0010.212035995500562
2025-12-15T17:14:12+08:0010.54949381327334
2025-12-15T17:20:17+08:0010.901012373453318
2025-12-15T18:09:07+08:0010.92941507311586
2025-12-15T18:09:18+08:0011.449662542182228
2025-12-15T18:11:38+08:0011.5572272215973
2025-12-15T20:16:12+08:0011.741844769403825
2025-12-15T20:16:40+08:0011.755905511811024
2025-12-15T20:17:17+08:0011.924634420697412
2025-12-15T22:15:23+08:0012.021794150731159
2025-12-15T22:15:47+08:0012.331130483689538
2025-12-15T22:16:22+08:0012.499859392575928
2025-12-16T08:56:44+08:0011.740579302587177
2025-12-16T08:57:55+08:0011.888638920134984
2025-12-16T08:58:26+08:0012.929133858267717
2025-12-16T09:04:00+08:0012.953037120359955
2025-12-16T09:05:33+08:0014.049775028121484
2025-12-16T09:54:09+08:0014.302868391451069
2025-12-16T09:55:00+08:0014.387232845894264
2025-12-16T10:05:40+08:0014.546541057367829
2025-12-16T10:07:12+08:0014.734111361079865
2025-12-16T13:50:43+08:0015.131467941507312
2025-12-16T17:44:29+08:0015.18
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
19,583
→
人均手数
137.9
→
认购倍数
100x
100x = 19,583 × 137.9 ÷ 27,040 孖展加权 100% → 18.5x
1x14061.0x
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
0.58
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
0.68
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 22.55x 和当前分配手法 (甲组 α=0.576, 乙组 α=0.676) 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

标志希迪智驾中签预测矩阵

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

18C特专科技

《主板规则》第18C章,为特专科技公司设立。机制A及机制B不适用。初订分配份额为5%,回补门槛:10倍至不足50倍→10%,50倍或以上→20%。根据第18C.08条,发售股份总数中至少50%须由配售部分的独立定价投资者认购。

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 希迪智驾(03881)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