孖展動態 孖展倍數1240.14x 孖展資金781.3億 捷利預測倍數1599.78x
排名 券商 孖展資金
1 富途证券富途 407.6億
2 辉立证券辉立 215.0億
3 老虎国际老虎 75.5億
4 华泰国际华泰 31.1億
5 华盛证券华盛 12.8億
6 致富证券致富 9.7億
7 熊猫证券熊猫 6.9億
8 复星国际复星 6.6億
9 盈立证券盈立 5.8億
孖展倍數
時間倍數
2026-05-18T06:00:00+08:000
2026-05-18T10:10:03+08:000.008412698412698413
2026-05-18T10:10:16+08:000.05492063492063492
2026-05-18T10:10:23+08:000.27714285714285714
2026-05-18T10:51:06+08:000.2804761904761905
2026-05-18T11:11:05+08:000.8104761904761905
2026-05-18T11:11:27+08:002.1755555555555555
2026-05-18T11:53:20+08:002.1826984126984126
2026-05-18T12:08:14+08:002.2244444444444444
2026-05-18T12:09:31+08:002.263968253968254
2026-05-18T12:10:16+08:002.5814285714285714
2026-05-18T12:10:41+08:002.5828571428571427
2026-05-18T13:44:38+08:002.595079365079365
2026-05-18T13:45:50+08:002.6974603174603176
2026-05-18T13:46:30+08:003.729206349206349
2026-05-18T13:47:44+08:003.736666666666667
2026-05-18T13:48:06+08:003.7434920634920634
2026-05-18T14:29:40+08:003.7626984126984127
2026-05-18T14:30:36+08:003.818095238095238
2026-05-18T14:31:01+08:004.008571428571429
2026-05-18T14:31:27+08:004.0193650793650795
2026-05-18T14:31:56+08:004.027619047619048
2026-05-18T14:33:26+08:004.573333333333333
2026-05-18T15:07:50+08:004.575555555555556
2026-05-18T15:08:11+08:004.637777777777778
2026-05-18T15:09:15+08:004.7647619047619045
2026-05-18T15:42:10+08:004.765714285714286
2026-05-18T16:09:34+08:004.793809523809524
2026-05-18T16:10:18+08:005.047777777777778
2026-05-18T16:10:52+08:005.05031746031746
2026-05-18T16:11:12+08:005.052222222222222
2026-05-18T16:11:33+08:005.202222222222222
2026-05-18T16:34:39+08:005.205555555555556
2026-05-18T17:16:17+08:005.20984126984127
2026-05-18T17:16:51+08:005.233492063492063
2026-05-18T17:18:06+08:005.265238095238095
2026-05-18T17:35:49+08:005.73015873015873
2026-05-18T18:09:31+08:005.9320634920634925
2026-05-18T18:09:48+08:009.265396825396826
2026-05-18T18:10:03+08:009.272063492063491
2026-05-18T18:10:25+08:0010.224603174603175
2026-05-18T18:10:52+08:0010.235079365079365
2026-05-18T18:11:37+08:0012.94936507936508
2026-05-18T20:13:03+08:0013.02984126984127
2026-05-18T20:13:58+08:0013.748888888888889
2026-05-18T20:14:32+08:0013.86111111111111
2026-05-18T20:15:13+08:0014.844920634920635
2026-05-18T20:15:42+08:0015.987777777777778
2026-05-18T20:16:03+08:0017.06714285714286
2026-05-18T22:03:57+08:0017.085238095238097
2026-05-18T22:04:36+08:0017.104126984126985
2026-05-18T22:05:13+08:0017.455873015873017
2026-05-18T22:05:41+08:0017.551111111111112
2026-05-18T22:05:59+08:0019.51936507936508
2026-05-19T08:37:27+08:0019.726825396825397
2026-05-19T08:37:30+08:0019.996031746031747
2026-05-19T08:38:38+08:0020.005396825396826
2026-05-19T08:38:44+08:0019.973492063492063
2026-05-19T08:39:11+08:0019.973492063492063
2026-05-19T08:39:33+08:0024.846507936507937
2026-05-19T09:00:45+08:0026.138253968253967
2026-05-19T09:06:30+08:0027.155555555555555
2026-05-19T09:13:46+08:0027.2815873015873
2026-05-19T09:14:22+08:0027.346666666666668
2026-05-19T09:14:49+08:0027.355238095238096
2026-05-19T09:15:26+08:0028.434603174603176
2026-05-19T09:16:06+08:0028.593333333333334
2026-05-19T10:02:09+08:0029.37984126984127
2026-05-19T10:03:02+08:0029.723809523809525
2026-05-19T10:03:49+08:0029.752857142857142
2026-05-19T10:04:13+08:0029.855873015873016
2026-05-19T10:04:36+08:0029.873174603174604
2026-05-19T10:05:33+08:0032.77793650793651
2026-05-19T10:30:53+08:0032.98984126984127
2026-05-19T11:05:03+08:0033.21650793650794
2026-05-19T11:05:26+08:0033.212698412698415
2026-05-19T11:06:19+08:0033.68
2026-05-19T11:06:49+08:0033.68714285714286
2026-05-19T11:07:07+08:0035.92523809523809
2026-05-19T11:36:58+08:0036.00952380952381
2026-05-19T11:50:39+08:0036.24761904761905
2026-05-19T12:08:13+08:0036.46952380952381
2026-05-19T12:09:09+08:0036.46095238095238
2026-05-19T12:09:36+08:0036.76111111111111
2026-05-19T12:10:20+08:0036.8
2026-05-19T12:10:35+08:0039.94285714285714
2026-05-19T13:43:51+08:0039.89793650793651
2026-05-19T13:43:59+08:0040.156349206349205
2026-05-19T13:44:28+08:0040.28619047619048
2026-05-19T13:44:40+08:0040.28142857142857
2026-05-19T13:45:18+08:0040.28619047619048
2026-05-19T13:45:37+08:0042.14333333333333
2026-05-19T13:45:58+08:0042.50126984126984
2026-05-19T14:15:59+08:0042.59984126984127
2026-05-19T14:16:15+08:0042.65047619047619
2026-05-19T14:16:39+08:0043.255714285714284
2026-05-19T14:16:56+08:0043.26111111111111
2026-05-19T14:18:03+08:0044.80079365079365
2026-05-19T14:18:56+08:0044.90031746031746
2026-05-19T15:03:02+08:0044.948095238095235
2026-05-19T15:03:14+08:0045.10174603174603
2026-05-19T15:04:15+08:0045.276666666666664
2026-05-19T15:04:34+08:0045.28523809523809
2026-05-19T15:05:17+08:0045.67936507936508
2026-05-19T15:05:49+08:0048.44126984126984
2026-05-19T15:31:48+08:0048.514920634920635
2026-05-19T16:01:48+08:0048.75126984126984
2026-05-19T16:02:04+08:0048.82396825396825
2026-05-19T17:14:19+08:0050.443015873015874
2026-05-19T17:14:28+08:0052.712857142857146
2026-05-19T17:15:52+08:0052.831428571428575
2026-05-19T17:16:00+08:0052.64190476190476
2026-05-19T17:16:13+08:0052.647619047619045
2026-05-19T17:16:16+08:0052.65507936507937
2026-05-19T17:18:02+08:0052.707142857142856
2026-05-19T17:18:21+08:0053.18333333333333
2026-05-19T17:18:42+08:0053.18857142857143
2026-05-19T17:19:17+08:0053.215714285714284
2026-05-19T17:39:41+08:0053.35079365079365
2026-05-19T18:00:02+08:0053.28857142857143
2026-05-19T18:00:34+08:0072.17746031746032
2026-05-19T18:01:18+08:0072.16063492063492
2026-05-19T18:02:26+08:0073.06952380952382
2026-05-19T18:03:07+08:0073.25380952380952
2026-05-19T18:03:45+08:0073.25412698412698
2026-05-19T18:27:02+08:0073.90492063492063
2026-05-19T20:21:58+08:0073.87476190476191
2026-05-19T20:22:45+08:0073.88984126984127
2026-05-19T20:23:13+08:0073.99317460317461
2026-05-19T20:23:36+08:0074.61222222222223
2026-05-19T20:23:50+08:0075.48523809523809
2026-05-19T21:52:31+08:0075.48666666666666
2026-05-19T21:52:47+08:0075.63
2026-05-19T21:53:00+08:0075.64587301587302
2026-05-19T21:53:18+08:0076.59825396825397
2026-05-19T22:08:37+08:0076.95825396825397
2026-05-19T22:08:51+08:0076.99
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2026-05-20T08:10:05+08:0077.91619047619048
2026-05-20T08:10:16+08:0078.70492063492064
2026-05-20T08:10:32+08:0078.70587301587301
2026-05-20T08:10:41+08:0078.69095238095238
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2026-05-20T08:11:17+08:0081.45285714285714
2026-05-20T09:09:14+08:0082.23063492063493
2026-05-20T09:09:27+08:0082.27269841269842
2026-05-20T09:09:41+08:0082.4831746031746
2026-05-20T09:09:46+08:0082.51253968253968
2026-05-20T09:09:56+08:0084.25857142857143
2026-05-20T10:05:22+08:0084.38063492063492
2026-05-20T10:05:29+08:0084.46
2026-05-20T10:05:36+08:0084.48857142857143
2026-05-20T10:05:43+08:0084.49603174603175
2026-05-20T10:05:51+08:0084.78603174603174
2026-05-20T10:06:05+08:0086.67492063492064
2026-05-20T11:04:28+08:0086.83047619047619
2026-05-20T11:05:07+08:0087.09857142857143
2026-05-20T11:05:34+08:0087.16095238095238
2026-05-20T11:06:02+08:0087.53206349206349
2026-05-20T11:06:46+08:0087.53238095238095
2026-05-20T11:07:02+08:0087.69111111111111
2026-05-20T12:11:38+08:0087.8979365079365
2026-05-20T12:11:52+08:0087.86428571428571
2026-05-20T12:12:41+08:0088.04301587301588
2026-05-20T12:13:03+08:0088.12825396825397
2026-05-20T12:13:33+08:0088.13396825396825
2026-05-20T12:13:45+08:0090.16571428571429
2026-05-20T12:39:25+08:0090.35047619047619
2026-05-20T13:40:23+08:0090.44285714285714
2026-05-20T13:41:04+08:0090.46222222222222
2026-05-20T13:41:33+08:0091.87539682539682
2026-05-20T13:42:15+08:0091.87555555555555
2026-05-20T13:42:47+08:0092.74857142857142
2026-05-20T13:43:10+08:0092.76269841269841
2026-05-20T14:10:03+08:0092.78539682539683
2026-05-20T14:10:58+08:0092.80777777777777
2026-05-20T14:11:14+08:0093.03333333333333
2026-05-20T14:12:01+08:0093.04079365079365
2026-05-20T14:12:23+08:0094.8979365079365
2026-05-20T14:53:21+08:0096.58047619047619
2026-05-20T14:55:02+08:0096.63920634920635
2026-05-20T15:05:50+08:0096.67222222222222
2026-05-20T15:06:16+08:0096.6588888888889
2026-05-20T15:06:55+08:0096.84238095238095
2026-05-20T15:07:26+08:0096.84873015873016
2026-05-20T15:07:37+08:0099.02333333333333
2026-05-20T16:10:02+08:0098.8268253968254
2026-05-20T16:10:33+08:0099.9836507936508
2026-05-20T16:11:11+08:00100.0584126984127
2026-05-20T16:11:26+08:00106.51428571428572
2026-05-20T16:11:49+08:00106.51444444444445
2026-05-20T16:12:06+08:00136.83190476190475
2026-05-20T17:16:27+08:00141.43507936507936
2026-05-20T17:16:51+08:00141.64857142857142
2026-05-20T17:17:04+08:00143.7604761904762
2026-05-20T17:17:23+08:00145.1274603174603
2026-05-20T17:17:45+08:00158.28396825396825
2026-05-20T17:18:03+08:00158.48238095238096
2026-05-20T17:18:16+08:00211.0379365079365
2026-05-20T17:18:27+08:00211.8315873015873
2026-05-20T17:50:47+08:00246.75222222222223
2026-05-20T17:50:52+08:00249.07555555555555
2026-05-20T18:01:55+08:00259.64698412698414
2026-05-20T18:02:54+08:00259.87111111111113
2026-05-20T18:03:27+08:00261.19380952380953
2026-05-20T18:03:49+08:00267.6315873015873
2026-05-20T18:04:03+08:00269.1846031746032
2026-05-20T18:09:56+08:00298.7084126984127
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2026-05-20T20:06:43+08:00335.2052380952381
2026-05-20T20:07:01+08:00359.49095238095236
2026-05-20T21:35:54+08:00360.4604761904762
2026-05-20T21:36:30+08:00365.9374603174603
2026-05-20T21:36:50+08:00366.67349206349206
2026-05-20T21:37:13+08:00396.18142857142857
2026-05-20T22:09:51+08:00402.98603174603176
2026-05-20T22:10:05+08:00403.69920634920635
2026-05-20T22:10:27+08:00446.1436507936508
2026-05-21T08:42:47+08:00456.50873015873015
2026-05-21T08:42:58+08:00485.5549206349206
2026-05-21T08:43:39+08:00486.39
2026-05-21T08:43:51+08:00490.5101587301587
2026-05-21T08:44:53+08:00677.748253968254
2026-05-21T08:45:31+08:00677.748253968254
2026-05-21T08:45:46+08:00688.0657142857143
2026-05-21T09:01:43+08:00696.2533333333333
2026-05-21T09:03:30+08:00730.7303174603175
2026-05-21T09:07:37+08:00739.1584126984127
2026-05-21T09:08:02+08:00740.0806349206349
2026-05-21T09:08:42+08:00791.128253968254
2026-05-21T09:40:31+08:00794.7790476190477
2026-05-21T09:40:54+08:00800.1257142857143
2026-05-21T10:09:39+08:00801.1250793650794
2026-05-21T10:10:16+08:00813.8153968253969
2026-05-21T10:11:10+08:00937.2280952380952
2026-05-21T11:07:26+08:00939.764126984127
2026-05-21T11:48:29+08:001223.891111111111
2026-05-21T17:31:03+08:001240.14
捷利預測倍數
時間倍數
券商孖展資金走勢
時間券商孖展資金
預測模型 一手期望中籤手數— 期望中籤1手所需手數—
倍數推導
近期首日表現
0.0%
→
參與人數
16,848
→
人均手數
413.3
→
認購倍數
363x
363x = 16,848 × 413.3 ÷ 19,208 孖展加權 100% → 1599.8x
1x15872.0x
分配手法係數 α
分配手法係數
反映發行人對不同申購規模的分配偏好。
α → 0  人均分配 — 每人獲配相同股數,與申購手數無關。
α → 1  按申購量比例分配 — 申購手數越多,獲配越多。
歷史 α 區間(P10–P90):甲組 0.3 – 0.9,乙組 0.4 – 1.0
0.67
分配手法係數 α
分配手法係數
反映發行人對不同申購規模的分配偏好。
α → 0  人均分配 — 每人獲配相同股數,與申購手數無關。
α → 1  按申購量比例分配 — 申購手數越多,獲配越多。
歷史 α 區間(P10–P90):甲組 0.3 – 0.9,乙組 0.4 – 1.0
0.69
此模型不適用分配手法調節

實際 vs 預測 對比

以實際認購倍數 1971.99x 和當前分配手法 (甲組 α=0.670, 乙組 α=0.694) 為基準,對比各檔位的實際與預測期望中籤手數

申購手數 認購金額(HKD) 實際期望中籤 預測期望中籤 偏差

標誌華曦達中籤預測矩陣

行為申購檔位,列為不同認購倍數,數值為期望中籤手數,綠色背景表示期望中籤≥1手;非預設倍數由相鄰網格插值估計。

發售機制說明

機制B

《第18項應用指引》下的靈活發售機制。最低初訂分配份額爲發售股份的10%,不設回補機制。最高初訂分配份額爲發售股份的60%(因《第18項應用指引》規定發售股份總數至少40%須分配予配售部分投資者,基石投資者除外)。發行人可根據發售結構、市場狀況及散戶投資者利益,自行釐定公開認購部分的初訂分配份額。

分配手法係數 α

α 為發行人分配偏好係數,描述發行人對不同申購規模的分配傾向。α 取值範圍 [0, 1]。

  • α → 0:人均分配——無論申購多少手,每位中籤者獲配股數相同。對散戶(小單申購)更有利。
  • α → 1:比例分配——獲配股數與申購手數成正比。對大額申購更有利。
  • 歷史實際 α 區間(P10–P90):甲組 0.3–0.9,乙組 0.4–1.0。不同IPO的α值差異較大,反映發行人各自的分配策略。
中籤率定義

本頁面的「中籤率」定義與港交所配發結果公告完全一致:中籤率 = 該檔位獲配股份總數 ÷ 該檔位有效申請股份總數 × 100%。此為港交所官方口徑,與其他網站可能使用的不同定義(如「申購人數中籤比例」)有本質區別。

期望中籤手數

期望中籤手數 = 該檔位獲配總股數 ÷ 每手股數 ÷ 該檔位申購人數

例:某檔位獲配總股數 50,000 股,每手 100 股,申購人數 500 人 → 期望中籤手數 = 50,000 ÷ 100 ÷ 500 = 1.0 手。

關於本頁

本頁展示 華曦達(00901)的中籤預測:基於相似 IPO 匹配的期望中籤率、甲乙組資金效率對比。
默認認購倍數按「近期首日表現 → 參與人數 → 人均手數 → 認購倍數」鏈條推導,公式為 認購倍數 = 參與人數 × 人均手數 ÷ 公開發售手數;其中參與人數與人均手數以近期 IPO 的中位數為基準,再按發行規模、A+H 身份、H 股折溢價、行業、併發 IPO、保薦人歷史表現與恒指近期走勢等特徵調節。
認購窗口前期默認倍數以模型推導為準;隨認購進度推進逐步結合孖展倍數加權;臨近截止(進度約九成後)默認倍數以孖展倍數預測為準。
中籤率預測基於歷史 592 隻 IPO 的 22087 條配發檔位數據做迴歸擬合與 KNN 相似匹配,估計各申購檔位的期望中籤手數,並結合分配手法係數 α(人均分配至比例分配)給出區間。你可以自訂認購倍數與分配手法係數 α,覆蓋 cibo 的默認預測,查看不同場景下的期望中籤手數。中籤率的計算方式與回撥規則見港股中籤率怎麼算。
數據來源:港交所披露易平台公開發售配發結果公告、招股說明書、FINI 平台公告;孖展數據(孖展倍數、捷利預測倍數及券商明細)來自捷利交易寶(TradeGo),倍數僅覆蓋已上報券商,捷利預測倍數為全市場外推值。
孖展倍數盤中實時更新;中籤率預測模型隨新股配發數據入庫不定期迭代。

Cibo — 港股IPO中籤率預測、中籤畫像與入通分析