孖展动态 孖展倍数728.7142768964878x 孖展资金1180.6亿
排名 券商 孖展资金
1 富途证券富途 823.4亿
2 辉立证券辉立 346.0亿
3 老虎国际老虎 131.0亿
4 华泰国际华泰 39.8亿
5 华盛证券华盛 20.8亿
6 盈立证券盈立 10.7亿
7 致富证券致富 7.7亿
8 长桥证券长桥 6.1亿
9 信诚证券信诚 3.0亿
孖展倍数
时间倍数
2026-01-14T06:00:00+08:000
2026-01-14T10:03:58+08:000.057403863959014874
2026-01-14T10:04:01+08:001.1673970742546755
2026-01-14T10:07:06+08:001.4883649157459415
2026-01-14T10:52:06+08:001.5809517930991914
2026-01-14T11:01:53+08:001.617863094870687
2026-01-14T11:08:50+08:002.781680143201037
2026-01-14T11:09:00+08:003.668785877414974
2026-01-14T11:09:03+08:009.625208320474044
2026-01-14T12:00:41+08:009.87210666008271
2026-01-14T12:00:46+08:009.897413739892599
2026-01-14T12:06:01+08:0011.070798098882785
2026-01-14T12:06:06+08:0011.418184062712179
2026-01-14T12:06:09+08:0015.961113511511636
2026-01-14T13:40:18+08:0015.977717424850319
2026-01-14T13:40:29+08:0017.20683908400716
2026-01-14T13:40:33+08:0020.69427813097957
2026-01-14T14:10:23+08:0020.707857539658047
2026-01-14T14:10:26+08:0021.853959632121473
2026-01-14T14:10:29+08:0023.619282760323436
2026-01-14T14:11:46+08:0024.216344670082094
2026-01-14T15:34:04+08:0024.23418307511882
2026-01-14T15:34:20+08:0024.69403123263996
2026-01-14T15:34:23+08:0026.934633664588606
2026-01-14T16:36:40+08:0026.944571322757856
2026-01-14T16:36:43+08:0027.62730695636072
2026-01-14T16:36:46+08:0027.626442812172087
2026-01-14T16:36:50+08:0029.317696438491453
2026-01-14T17:02:04+08:0029.32788099500031
2026-01-14T17:04:18+08:0029.898956854515152
2026-01-14T17:09:31+08:0033.07777297697673
2026-01-14T17:23:00+08:0039.86747731621505
2026-01-14T18:05:55+08:0039.87371149929017
2026-01-14T18:06:01+08:0040.3275723720758
2026-01-14T18:06:07+08:0042.24720696253318
2026-01-14T18:06:53+08:0043.785815690389484
2026-01-14T19:57:43+08:0043.7948892043701
2026-01-14T19:57:48+08:0045.07209431516573
2026-01-14T19:57:53+08:0045.16461946793408
2026-01-14T19:57:58+08:0046.905252762175174
2026-01-14T20:19:45+08:0046.95691623973829
2026-01-14T20:19:50+08:0047.09715449663601
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2026-01-15T08:35:01+08:0063.77143386210728
2026-01-15T09:08:33+08:0063.82729461144374
2026-01-15T09:08:49+08:0064.15258317387816
2026-01-15T09:08:52+08:0064.13357200172828
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2026-01-15T09:09:28+08:0066.77347077340904
2026-01-15T09:21:12+08:0068.00796247145237
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2026-01-15T10:21:57+08:0070.23424479970372
2026-01-15T10:22:00+08:0070.25158940806124
2026-01-15T10:22:03+08:0072.9859885192272
2026-01-15T11:09:47+08:0073.12789333991729
2026-01-15T11:09:53+08:0074.00166656379236
2026-01-15T11:09:56+08:0073.99907413122646
2026-01-15T11:09:59+08:0076.99271649898155
2026-01-15T12:03:03+08:0077.1111659774088
2026-01-15T12:03:10+08:0077.04092339979013
2026-01-15T12:03:18+08:0077.24850317881612
2026-01-15T12:07:11+08:0079.01382630701808
2026-01-15T13:44:05+08:0079.12579470403061
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2026-01-15T13:44:11+08:0079.38306277390285
2026-01-15T13:44:14+08:0081.53725078698845
2026-01-15T13:44:20+08:0081.8458737114993
2026-01-15T14:00:20+08:0081.96382939324734
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2026-01-15T14:09:35+08:0082.80445651502994
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2026-01-15T16:26:55+08:0090.66483550398124
2026-01-15T17:03:34+08:0090.85167582248009
2026-01-15T17:03:37+08:0091.26646503302266
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2026-01-15T18:03:49+08:00106.44126905746559
2026-01-15T18:03:53+08:00106.53021418430961
2026-01-15T18:05:00+08:00107.43102277637183
2026-01-15T18:05:20+08:00109.61607308190852
2026-01-15T20:41:05+08:00110.10986976112585
2026-01-15T20:41:11+08:00110.14684278748226
2026-01-15T20:41:17+08:00110.38954385531757
2026-01-15T20:41:23+08:00110.54280599962965
2026-01-15T20:41:29+08:00112.61675205234245
2026-01-15T20:41:46+08:00112.84463921980125
2026-01-15T20:41:54+08:00112.9058082834393
2026-01-15T20:42:01+08:00113.97364360224678
2026-01-15T22:09:59+08:00114.86111968397013
2026-01-15T22:10:03+08:00114.91525214492933
2026-01-15T22:10:09+08:00116.89043886179866
2026-01-15T22:10:19+08:00117.65094747237825
2026-01-15T22:10:24+08:00117.78501327078575
2026-01-15T22:10:28+08:00119.34047281032035
2026-01-16T08:32:13+08:00119.58805012036294
2026-01-16T08:32:32+08:00120.20208629096969
2026-01-16T08:32:35+08:00120.66076168137769
2026-01-16T08:32:44+08:00128.49361150546264
2026-01-16T08:32:57+08:00128.49361150546264
2026-01-16T09:00:38+08:00128.68106906981052
2026-01-16T09:01:25+08:00129.5128695759521
2026-01-16T09:03:58+08:00129.86093451021543
2026-01-16T09:04:04+08:00129.89259922227023
2026-01-16T09:08:31+08:00131.16412567125485
2026-01-16T09:22:10+08:00131.71964693537436
2026-01-16T10:21:51+08:00132.79556817480403
2026-01-16T10:21:57+08:00133.6385408308129
2026-01-16T10:22:04+08:00133.59206221838159
2026-01-16T10:23:23+08:00137.43750385778657
2026-01-16T11:25:46+08:00137.71168446392198
2026-01-16T11:25:49+08:00138.04123202271464
2026-01-16T11:25:52+08:00137.95629899388928
2026-01-16T11:25:54+08:00141.32028887105733
2026-01-16T12:01:54+08:00141.63625702117153
2026-01-16T12:03:44+08:00142.1427689648787
2026-01-16T12:03:50+08:00142.3241775199062
2026-01-16T12:07:19+08:00146.4905870008024
2026-01-16T13:45:24+08:00146.78563051663477
2026-01-16T13:45:34+08:00147.1825813221406
2026-01-16T13:48:55+08:00147.1251157335967
2026-01-16T13:48:59+08:00149.28547620517253
2026-01-16T13:49:07+08:00150.02617122399852
2026-01-16T14:00:17+08:00150.66872415283007
2026-01-16T14:03:13+08:00151.83599777791494
2026-01-16T14:03:37+08:00152.32942410962286
2026-01-16T14:03:42+08:00152.4248503178816
2026-01-16T14:06:11+08:00158.29485834207765
2026-01-16T14:48:00+08:00158.9121041910993
2026-01-16T15:10:09+08:00159.43812110363558
2026-01-16T15:10:15+08:00160.29553731251158
2026-01-16T15:10:18+08:00160.40522189988272
2026-01-16T15:10:22+08:00165.34936115054626
2026-01-16T16:10:59+08:00166.20998703783718
2026-01-16T16:11:04+08:00174.28356274304056
2026-01-16T17:07:00+08:00175.2907227948892
2026-01-16T17:07:04+08:00179.5558916116289
2026-01-16T17:07:10+08:00180.79038330967225
2026-01-16T17:18:55+08:00245.90982038145793
2026-01-16T19:58:06+08:00246.8974137398926
2026-01-16T19:58:10+08:00248.40034565767544
2026-01-16T19:58:16+08:00253.8753163384976
2026-01-16T19:58:48+08:00255.02172705388557
2026-01-16T19:58:53+08:00259.4905870008024
2026-01-16T19:59:47+08:00262.1517190296895
2026-01-16T20:07:57+08:00263.0229615455836
2026-01-16T20:08:02+08:00267.9979630886982
2026-01-16T22:00:33+08:00268.6273686809456
2026-01-16T22:00:41+08:00272.18887722980065
2026-01-16T22:05:03+08:00272.44842910931425
2026-01-16T23:58:45+08:00275.56552064687367
2026-01-17T13:12:04+08:00276.735633602864
2026-01-17T13:12:14+08:00276.735633602864
2026-01-17T13:12:19+08:00280.1139435837294
2026-01-17T13:12:25+08:00297.06351459786435
2026-01-17T13:12:36+08:00297.8672921424603
2026-01-17T13:12:43+08:00300.43503487439045
2026-01-17T13:12:48+08:00301.02925745324364
2026-01-17T13:12:53+08:00303.9858650700574
2026-01-17T13:12:58+08:00304.61490031479536
2026-01-17T13:13:02+08:00306.52836244676257
2026-01-17T13:13:07+08:00306.95376828590827
2026-01-17T13:13:12+08:00309.34868218011235
2026-01-17T13:13:16+08:00309.54564533053514
2026-01-17T13:13:21+08:00312.39732115301524
2026-01-17T15:15:09+08:00315.90327757545833
2026-01-17T15:15:47+08:00316.6853897907537
2026-01-17T15:15:54+08:00319.4691685698414
2026-01-17T15:16:03+08:00319.88229121659157
2026-01-17T15:16:08+08:00322.57965557681626
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2026-01-17T18:14:00+08:00325.837849515462
2026-01-17T18:14:05+08:00326.2562804765138
2026-01-17T18:14:10+08:00329.367199555583
2026-01-17T18:14:28+08:00330.6658230973397
2026-01-17T18:14:33+08:00334.22733164619467
2026-01-17T21:35:04+08:00334.5352138756867
2026-01-17T21:35:09+08:00336.8313684340473
2026-01-17T21:35:14+08:00337.42966483550396
2026-01-17T21:35:18+08:00340.05295969384605
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2026-01-17T21:35:27+08:00342.81291278316155
2026-01-17T22:17:07+08:00343.1678908709339
2026-01-17T22:17:12+08:00344.89000678970433
2026-01-18T10:08:28+08:00347.7088451330165
2026-01-18T10:09:15+08:00368.23226961298684
2026-01-18T12:52:13+08:00368.83383741744336
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2026-01-18T12:52:30+08:00378.2847972347386
2026-01-18T16:53:35+08:00379.0734522560336
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2026-01-18T16:53:43+08:00384.08413060922163
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2026-01-18T16:53:56+08:00394.38565520646875
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2026-01-18T22:47:10+08:00406.0825874945991
2026-01-18T22:47:14+08:00408.25257700141964
2026-01-18T22:47:17+08:00410.00685142892416
2026-01-18T22:48:26+08:00416.54348497006356
2026-01-18T22:48:30+08:00422.20362940559227
2026-01-18T22:48:33+08:00430.7277945805815
2026-01-18T22:48:37+08:00439.0174063329424
2026-01-18T22:48:42+08:00450.3623850379606
2026-01-18T22:48:47+08:00464.4664526881057
2026-01-19T08:37:11+08:00466.5820628356274
2026-01-19T08:37:15+08:00478.011974569471
2026-01-19T08:37:34+08:00562.2968952533794
2026-01-19T08:37:41+08:00562.2968952533794
2026-01-19T09:13:25+08:00567.6934757113759
2026-01-19T09:13:33+08:00606.9996913770755
2026-01-19T09:13:39+08:00611.9376581692488
2026-01-19T09:14:26+08:00626.8978458119869
2026-01-19T10:04:06+08:00627.9780260477748
2026-01-19T10:04:11+08:00633.1641873958398
2026-01-19T10:05:17+08:00727.4546632923893
2026-01-19T11:54:57+08:00728.7142768964878
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
12,296
→
人均手数
57.3
→
认购倍数
13x
13x = 12,296 × 57.3 ÷ 52,260 A+H二次上市 · 参与×0.45 H股折价 40.2% 孖展加权 100% → 728.7x
1x6172.0x
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
0.61
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
0.71
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 1149.76x 和当前分配手法 (甲组 α=0.615, 乙组 α=0.715) 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

标志龙旗科技中签预测矩阵

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 龙旗科技(09611)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