孖展动态 孖展倍数171.93x 孖展资金62.9亿 捷利预测倍数199.44x
排名 券商 孖展资金
1 富途证券富途 29.6亿
2 辉立证券辉立 26.0亿
3 老虎国际老虎 4.2亿
4 华泰国际华泰 1.4亿
5 华盛证券华盛 6250万
6 盈立证券盈立 4216万
7 信诚证券信诚 2000万
9 卓锐证券 1614万
10 长桥证券长桥 1103万
11 TradeGo MarketsTradeGo 997万
12 FunderstoneFunderstone 388万
13 艾德证券艾德 328万
14 盈宝证券盈宝 9万
孖展倍数
时间倍数
2025-12-18T06:00:00+08:000
2025-12-18T10:24:14+08:000.008479212253829322
2025-12-18T10:25:37+08:000.199945295404814
2025-12-18T11:09:22+08:000.2149890590809628
2025-12-18T11:10:12+08:000.21717724288840262
2025-12-18T11:10:19+08:000.22565645514223195
2025-12-18T11:11:04+08:001.0735776805251642
2025-12-18T12:03:22+08:001.076859956236324
2025-12-18T12:05:07+08:001.2989606126914661
2025-12-18T12:05:51+08:001.299781181619256
2025-12-18T12:06:08+08:000.9715536105032823
2025-12-18T13:47:14+08:000.9833150984682714
2025-12-18T13:47:31+08:001.010667396061269
2025-12-18T13:49:33+08:001.0144967177242887
2025-12-18T13:49:40+08:001.024617067833698
2025-12-18T14:04:00+08:001.0333698030634573
2025-12-18T14:04:17+08:001.0445842450765865
2025-12-18T14:04:59+08:001.0670131291028446
2025-12-18T14:06:02+08:002.0790481400437635
2025-12-18T14:08:31+08:002.091083150984683
2025-12-18T14:49:12+08:002.1184354485776806
2025-12-18T15:31:41+08:002.1219912472647704
2025-12-18T15:32:30+08:002.137582056892779
2025-12-18T15:33:06+08:002.153719912472648
2025-12-18T15:33:33+08:002.7554704595185995
2025-12-18T16:56:06+08:002.7582056892778994
2025-12-18T16:56:09+08:002.762582056892779
2025-12-18T16:57:21+08:002.771061269146608
2025-12-18T16:57:45+08:002.774617067833698
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2025-12-18T17:05:36+08:002.801422319474836
2025-12-18T17:06:43+08:002.8834792122538295
2025-12-18T18:10:17+08:004.4152078774617065
2025-12-18T18:10:35+08:004.442833698030634
2025-12-18T18:11:13+08:004.49562363238512
2025-12-18T18:12:38+08:004.604485776805252
2025-12-18T18:13:17+08:004.610503282275711
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2025-12-18T20:24:11+08:004.706509846827133
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2025-12-18T20:28:07+08:004.963621444201313
2025-12-18T20:28:31+08:005.319201312910285
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2025-12-18T22:07:03+08:006.269967177242888
2025-12-19T08:37:54+08:006.300875273522976
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2025-12-19T08:40:10+08:006.679978118161926
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2025-12-19T09:03:11+08:006.762855579868709
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2025-12-19T09:39:33+08:006.706509846827133
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2025-12-19T10:15:50+08:006.714442013129103
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2025-12-19T12:04:09+08:007.4570568927789935
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2025-12-19T12:06:36+08:007.774890590809628
2025-12-19T13:42:01+08:007.785010940919038
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2025-12-19T16:00:35+08:008.11214442013129
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2025-12-19T18:11:23+08:0010.050328227571116
2025-12-19T18:11:28+08:0010.679431072210066
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2025-12-19T20:19:48+08:0010.73522975929978
2025-12-19T20:21:25+08:0010.74398249452954
2025-12-19T20:21:34+08:0011.044857768052516
2025-12-19T20:22:36+08:0011.060448577680525
2025-12-19T20:22:57+08:0011.13074398249453
2025-12-19T20:23:06+08:0011.048687089715536
2025-12-19T22:20:38+08:0011.041575492341357
2025-12-19T22:20:51+08:0011.043763676148796
2025-12-19T22:21:21+08:0010.903993435448578
2025-12-19T22:21:40+08:0010.906181619256017
2025-12-19T22:21:55+08:0010.960886214442013
2025-12-19T22:22:16+08:0011.070295404814004
2025-12-19T23:05:54+08:0011.069748358862144
2025-12-19T23:06:32+08:0011.070021881838075
2025-12-20T10:13:03+08:0011.092997811816193
2025-12-20T10:13:07+08:0011.093544857768052
2025-12-20T10:24:20+08:0011.099835886214443
2025-12-20T10:24:24+08:0011.150437636761488
2025-12-20T10:24:43+08:0011.423960612691467
2025-12-20T10:24:46+08:0011.588074398249454
2025-12-20T10:29:23+08:0011.688183807439826
2025-12-20T10:29:26+08:0011.691739606126914
2025-12-20T10:34:01+08:0011.691739606126914
2025-12-20T12:34:29+08:0011.675328227571116
2025-12-20T12:37:10+08:0012.167669584245077
2025-12-20T12:37:31+08:0012.195021881838075
2025-12-20T12:39:47+08:0012.196663019693654
2025-12-20T12:40:12+08:0012.225656455142232
2025-12-20T15:53:28+08:0012.226477024070022
2025-12-20T15:53:33+08:0012.228391684901531
2025-12-20T15:53:38+08:0012.230032822757112
2025-12-20T15:56:26+08:0012.394146608315099
2025-12-20T15:58:29+08:0012.437089715536105
2025-12-20T15:58:33+08:0012.437363238512035
2025-12-20T15:58:37+08:0012.449671772428884
2025-12-20T16:00:27+08:0012.49206783369803
2025-12-20T21:42:51+08:0012.550328227571116
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2025-12-20T21:50:30+08:0012.564551422319475
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2025-12-20T21:51:36+08:0012.701586433260394
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2025-12-20T21:51:47+08:0012.86570021881838
2025-12-20T21:51:52+08:0012.893052516411379
2025-12-20T21:51:56+08:0012.920404814004376
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2025-12-20T21:56:54+08:0012.921498905908097
2025-12-20T21:56:58+08:0012.923140043763675
2025-12-20T22:05:51+08:0012.924781181619256
2025-12-21T10:05:12+08:0012.919857768052516
2025-12-21T10:06:41+08:0012.943107221006565
2025-12-21T10:08:28+08:0012.970185995623632
2025-12-21T10:09:16+08:0012.806072210065645
2025-12-21T10:09:43+08:0012.833424507658643
2025-12-21T10:10:06+08:0012.860776805251641
2025-12-21T12:22:57+08:0012.862964989059082
2025-12-21T12:24:46+08:0012.908096280087527
2025-12-21T12:24:59+08:0012.99015317286652
2025-12-21T12:25:21+08:0013.017505470459518
2025-12-21T16:30:38+08:0013.018052516411379
2025-12-21T16:32:00+08:0013.022428884026258
2025-12-21T16:33:30+08:0013.208698030634574
2025-12-21T16:34:46+08:0013.345459518599561
2025-12-21T16:35:09+08:0013.536925601750546
2025-12-21T18:12:14+08:0013.541849015317286
2025-12-21T18:14:02+08:0013.560722100656456
2025-12-21T18:14:21+08:0013.533369803063458
2025-12-21T20:08:13+08:0013.534190371991247
2025-12-21T20:09:16+08:0013.566192560175054
2025-12-21T20:09:25+08:0013.429431072210066
2025-12-21T20:10:26+08:0013.480032822757112
2025-12-21T20:10:35+08:0013.671498905908097
2025-12-21T21:09:41+08:0013.673413566739606
2025-12-21T21:09:51+08:0013.837527352297593
2025-12-21T22:11:45+08:0013.838621444201314
2025-12-21T22:12:04+08:0013.687089715536105
2025-12-21T22:12:14+08:0013.796498905908097
2025-12-22T08:58:44+08:0014.179431072210066
2025-12-22T08:58:47+08:0014.268873085339168
2025-12-22T09:00:33+08:0014.569748358862144
2025-12-22T09:01:19+08:0014.602571115973742
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2025-12-22T09:05:13+08:0014.61159737417943
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2025-12-22T11:10:16+08:0015.166028446389497
2025-12-22T11:10:41+08:0015.688730853391684
2025-12-22T11:11:39+08:0016.12171772428884
2025-12-22T11:12:22+08:0018.227844638949673
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2025-12-22T12:23:00+08:0019.23687089715536
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2025-12-22T13:51:40+08:0020.201586433260395
2025-12-22T13:52:25+08:0020.415207877461707
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2025-12-22T14:02:47+08:0020.437363238512035
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2025-12-22T19:59:06+08:0052.461706783369806
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2025-12-22T20:05:14+08:0056.29403719912472
2025-12-22T21:31:33+08:0057.39879649890591
2025-12-22T21:31:46+08:0060.35284463894967
2025-12-22T22:10:18+08:0060.5839715536105
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2025-12-23T08:56:03+08:0065.57904814004377
2025-12-23T08:56:15+08:0065.57904814004377
2025-12-23T08:56:40+08:0067.34409190371991
2025-12-23T08:56:48+08:0087.01039387308533
2025-12-23T09:10:43+08:0087.79403719912473
2025-12-23T09:10:49+08:0095.6167943107221
2025-12-23T10:11:57+08:0096.71088621444201
2025-12-23T10:12:03+08:0096.71088621444201
2025-12-23T10:12:08+08:0098.11132385120351
2025-12-23T10:12:15+08:00114.13977024070022
2025-12-23T10:59:39+08:00116.91110503282276
2025-12-23T11:07:25+08:00171.4789387308534
2025-12-23T16:46:54+08:00171.93
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
17,731
→
人均手数
111.2
→
认购倍数
329x
329x = 17,731 × 111.2 ÷ 5,994 孖展加权 100% → 199.4x
1x27349.0x
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
0.51
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
0.61
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 256.01x 和当前分配手法 (甲组 α=0.510, 乙组 α=0.610) 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

标志五一视界中签预测矩阵

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 五一视界(06651)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