孖展動態 孖展倍數3768.77x 孖展資金1912.1億 捷利預測倍數4522.53x
排名 券商 孖展資金
1 富途证券富途 1150.4億
2 辉立证券辉立 381.0億
3 老虎国际老虎 223.1億
4 华泰国际华泰 93.6億
5 华盛证券华盛 35.0億
6 卓锐证券 8.9億
7 盈立证券盈立 6.3億
8 信诚证券信诚 5.0億
9 长桥证券长桥 4.5億
11 TradeGo MarketsTradeGo 2.8億
12 盈宝证券盈宝 9519萬
13 艾德证券艾德 6267萬
孖展倍數
時間倍數
2025-11-28T06:00:00+08:000
2025-11-28T10:00:49+08:000.005124162396531336
2025-11-28T10:07:28+08:000.033307055577453684
2025-11-28T11:12:02+08:000.053212455656286954
2025-11-28T11:13:04+08:000.06937327552227039
2025-11-28T11:13:31+08:000.0890815924320063
2025-11-28T11:13:56+08:000.1927473393772172
2025-11-28T11:50:02+08:000.21639731966890027
2025-11-28T12:06:27+08:000.22664564446196295
2025-11-28T12:06:56+08:000.6442648797792668
2025-11-28T12:07:28+08:000.658651951123374
2025-11-28T13:45:04+08:000.6919590067008278
2025-11-28T13:45:35+08:000.693732755222704
2025-11-28T13:46:04+08:000.6978715017737486
2025-11-28T14:01:50+08:000.7055577453685455
2025-11-28T14:02:57+08:000.895151754040205
2025-11-28T14:04:44+08:000.915451320457233
2025-11-28T14:05:08+08:001.0
2025-11-28T14:05:45+08:001.0197083169097358
2025-11-28T15:20:03+08:001.035672053606622
2025-11-28T15:20:36+08:001.1324398896334253
2025-11-28T15:21:24+08:001.152542372881356
2025-11-28T15:21:53+08:001.1722506897910918
2025-11-28T15:30:11+08:001.369333858888451
2025-11-28T16:09:27+08:001.378793851005124
2025-11-28T16:09:56+08:001.4333858888450925
2025-11-28T16:10:39+08:001.4473787938510052
2025-11-28T16:11:06+08:001.467087110760741
2025-11-28T17:08:44+08:001.4858100118249902
2025-11-28T17:09:06+08:001.4860070949940876
2025-11-28T17:09:36+08:001.4897516752069373
2025-11-28T17:43:28+08:003.4605833661805283
2025-11-28T18:03:15+08:003.4613716988569174
2025-11-28T18:03:39+08:003.3904217579818683
2025-11-28T18:03:45+08:003.394954670871108
2025-11-28T18:05:08+08:003.8283405597162004
2025-11-28T21:04:13+08:003.8301143082380764
2025-11-28T21:05:08+08:003.8334647221127316
2025-11-28T21:05:26+08:003.841348048876626
2025-11-28T21:06:12+08:003.8415451320457232
2025-11-28T21:06:31+08:003.844698462751281
2025-11-28T21:07:04+08:003.8460780449349627
2025-11-28T21:07:20+08:003.8462751281040597
2025-11-28T22:08:32+08:003.8839180134016553
2025-11-29T07:20:40+08:004.429641308632243
2025-11-29T07:21:23+08:004.429641308632243
2025-11-29T07:21:34+08:004.467284193929839
2025-11-29T09:23:43+08:004.754631454473788
2025-11-29T09:24:05+08:004.774339771383524
2025-11-29T09:24:22+08:004.797989751675207
2025-11-29T09:25:26+08:004.799566417027986
2025-11-29T10:44:47+08:004.800551832873473
2025-11-29T10:45:15+08:004.815727236893969
2025-11-29T10:45:24+08:004.969057942451714
2025-11-29T10:45:43+08:004.988766259361451
2025-11-29T11:16:53+08:004.9897516752069375
2025-11-29T11:17:25+08:004.99034292471423
2025-11-29T12:23:33+08:004.994284588096177
2025-11-29T12:23:57+08:005.004335829720142
2025-11-29T12:24:09+08:005.509459992116673
2025-11-29T15:56:42+08:005.516357903035081
2025-11-29T15:56:53+08:005.51793456838786
2025-11-29T15:57:30+08:005.5193141505715415
2025-11-29T15:57:57+08:005.521482065431612
2025-11-29T15:58:24+08:005.5248324793062675
2025-11-29T19:02:40+08:005.56346078044935
2025-11-29T19:03:21+08:005.564840362633031
2025-11-29T19:03:43+08:005.781631848640126
2025-11-29T19:04:19+08:005.788529759558534
2025-11-29T19:05:01+08:005.790106424911313
2025-11-29T19:05:12+08:005.791683090264091
2025-11-29T19:05:49+08:005.80074891604257
2025-11-29T20:21:51+08:005.801143082380765
2025-11-29T21:26:04+08:005.806464327946394
2025-11-29T22:10:43+08:005.808238076468269
2025-11-30T10:36:32+08:005.823216397319669
2025-11-30T10:36:55+08:005.83208513992905
2025-11-30T10:41:12+08:005.8358297201419
2025-11-30T10:41:16+08:005.837209302325581
2025-11-30T12:31:30+08:005.8374063854946785
2025-11-30T12:31:47+08:005.838194718171068
2025-11-30T12:32:34+08:005.838391801340165
2025-11-30T12:32:52+08:005.840362633031139
2025-11-30T12:33:46+08:005.8409538825384315
2025-11-30T17:22:45+08:005.841150965707529
2025-11-30T17:22:49+08:005.853567205360662
2025-11-30T17:22:54+08:005.870319274733938
2025-11-30T17:22:58+08:005.874063854946788
2025-11-30T17:27:33+08:005.874458021284982
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2025-11-30T17:27:42+08:005.876428852975956
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2025-11-30T17:31:22+08:005.978320851399291
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2025-11-30T22:08:07+08:005.9962554197871505
2025-11-30T22:08:11+08:006.132636972802523
2025-11-30T22:08:31+08:006.13283405597162
2025-11-30T22:08:35+08:005.627906976744186
2025-11-30T22:08:39+08:006.058336618052818
2025-11-30T22:08:46+08:006.063066614111155
2025-11-30T22:12:04+08:006.06346078044935
2025-11-30T22:12:08+08:006.064249113125739
2025-11-30T22:14:22+08:006.438707134410722
2025-12-01T08:46:00+08:006.461371698856918
2025-12-01T08:46:10+08:006.970437524635396
2025-12-01T08:46:40+08:007.011233740638549
2025-12-01T08:46:43+08:007.018525817895152
2025-12-01T08:46:46+08:007.017540402049665
2025-12-01T08:48:09+08:007.037248718959401
2025-12-01T08:48:25+08:007.037248718959401
2025-12-01T09:07:08+08:007.056957035869137
2025-12-01T09:07:53+08:006.78439101300749
2025-12-01T09:08:23+08:006.785179345683878
2025-12-01T09:08:34+08:007.1951123374063854
2025-12-01T09:14:13+08:007.7238864800946
2025-12-01T10:12:16+08:007.765076862435948
2025-12-01T10:12:40+08:007.661608198659835
2025-12-01T10:13:30+08:007.7207331493890425
2025-12-01T10:13:56+08:007.761332282223099
2025-12-01T11:11:11+08:007.7912889239258964
2025-12-01T11:11:50+08:007.827749310208908
2025-12-01T11:12:12+08:007.886874260938116
2025-12-01T11:12:37+08:007.911312573906188
2025-12-01T12:03:57+08:008.020496649586125
2025-12-01T12:04:34+08:008.250295624753646
2025-12-01T12:05:11+08:008.25068979109184
2025-12-01T12:05:43+08:009.728813559322035
2025-12-01T13:45:02+08:0010.241821048482459
2025-12-01T13:45:27+08:0010.288135593220339
2025-12-01T13:45:50+08:0010.997635001970831
2025-12-01T13:47:27+08:0011.39180134016555
2025-12-01T13:47:54+08:0011.402837997635002
2025-12-01T14:02:25+08:0011.419392983839181
2025-12-01T14:03:25+08:0011.587702010248325
2025-12-01T14:04:51+08:0011.720733149389043
2025-12-01T14:05:14+08:0011.726251478123768
2025-12-01T14:05:39+08:0013.421166732361057
2025-12-01T14:21:25+08:0014.209499408750492
2025-12-01T15:15:58+08:0014.2313756405203
2025-12-01T15:16:28+08:0014.252660622782814
2025-12-01T15:16:44+08:0014.297398502167916
2025-12-01T15:17:41+08:0015.992313756405203
2025-12-01T16:30:50+08:0016.00374458021285
2025-12-01T16:31:13+08:0020.270003941663383
2025-12-01T16:31:27+08:0020.662593614505322
2025-12-01T16:32:06+08:0022.219550650374458
2025-12-01T17:22:08+08:0022.2238864800946
2025-12-01T17:23:12+08:0029.104256996452502
2025-12-01T17:23:27+08:0029.494481671265273
2025-12-01T17:24:01+08:0071.2169885691762
2025-12-01T17:59:25+08:0077.52364998029168
2025-12-01T18:04:14+08:0077.53192747339378
2025-12-01T18:05:02+08:0078.38707134410721
2025-12-01T18:06:01+08:0084.66200236499803
2025-12-01T18:06:29+08:00113.45585337012218
2025-12-01T18:07:54+08:00122.14761529365393
2025-12-01T19:44:49+08:00126.87761135199054
2025-12-01T19:45:07+08:00126.88372093023256
2025-12-01T19:45:31+08:00128.3738667717777
2025-12-01T19:45:54+08:00137.56937327552228
2025-12-01T19:46:13+08:00163.30843515963736
2025-12-01T20:09:03+08:00170.51103665746945
2025-12-01T20:09:31+08:00196.3289318092235
2025-12-01T21:36:08+08:00204.19057942451715
2025-12-01T21:36:27+08:00236.41367757193535
2025-12-01T22:03:57+08:00247.1554986204178
2025-12-01T22:08:33+08:00280.06838785967676
2025-12-02T08:54:52+08:00289.7335435553804
2025-12-02T08:55:04+08:00319.3734726054395
2025-12-02T08:55:26+08:00492.23512022073317
2025-12-02T08:56:17+08:00492.23512022073317
2025-12-02T09:04:45+08:00493.02818289318094
2025-12-02T09:05:25+08:00502.1180528182893
2025-12-02T09:05:55+08:00550.6596373669688
2025-12-02T09:06:39+08:00590.649783208514
2025-12-02T09:26:57+08:00610.3186834844304
2025-12-02T10:23:35+08:00627.734726054395
2025-12-02T10:23:50+08:00629.1791486007095
2025-12-02T10:23:59+08:00629.3048876625936
2025-12-02T10:24:20+08:00689.9079621600315
2025-12-02T11:15:16+08:00691.4911312573906
2025-12-02T11:15:40+08:00701.2313756405204
2025-12-02T11:16:05+08:00708.5563657863619
2025-12-02T11:16:18+08:00760.0936145053213
2025-12-02T12:01:36+08:00760.5792274339772
2025-12-02T12:07:02+08:00761.4499408750493
2025-12-02T12:07:16+08:00770.9138746551045
2025-12-02T12:07:34+08:00821.5642491131257
2025-12-02T13:48:53+08:00821.6974773354356
2025-12-02T13:49:21+08:00821.7055577453685
2025-12-02T13:49:39+08:00827.5674024438313
2025-12-02T13:49:53+08:00866.1957035869136
2025-12-02T14:06:59+08:00866.7928655892787
2025-12-02T14:07:35+08:00866.9300354749704
2025-12-02T14:07:51+08:00873.6292865589279
2025-12-02T14:08:07+08:00913.2430035474971
2025-12-02T14:08:55+08:00936.3243988963343
2025-12-02T15:03:16+08:00936.3953488372093
2025-12-02T15:03:50+08:00947.9653133622388
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2025-12-02T15:05:33+08:00997.698265668112
2025-12-02T15:32:01+08:001006.5670082774931
2025-12-02T16:23:54+08:001022.7049664958613
2025-12-02T16:24:09+08:001067.9552621206149
2025-12-02T17:17:05+08:001096.8013401655498
2025-12-02T17:17:45+08:001230.443437130469
2025-12-02T17:37:11+08:001541.4406779661017
2025-12-02T18:01:57+08:001563.5139929050058
2025-12-02T18:03:15+08:001592.7142294048087
2025-12-02T18:05:07+08:001614.3433188805675
2025-12-02T18:05:18+08:001703.6022861647616
2025-12-02T20:20:08+08:001718.3827355143872
2025-12-02T20:20:17+08:001810.9132834055972
2025-12-02T20:20:58+08:001827.3431217973985
2025-12-02T20:21:07+08:001925.9832479306267
2025-12-02T21:28:54+08:001942.5268033109971
2025-12-02T21:29:03+08:002056.7562081198266
2025-12-02T22:04:44+08:002075.760741032716
2025-12-02T22:06:09+08:002182.323610563658
2025-12-03T09:48:33+08:002210.874260938116
2025-12-03T09:49:25+08:002210.874260938116
2025-12-03T09:51:31+08:002297.548285376429
2025-12-03T09:51:53+08:002934.1269215608986
2025-12-03T09:52:58+08:002954.1817106819076
2025-12-03T09:53:05+08:003198.486007094994
2025-12-03T09:53:14+08:003220.1651556957036
2025-12-03T09:53:29+08:003594.623176980686
2025-12-03T10:09:53+08:003612.0898699251084
2025-12-03T10:10:02+08:003669.2439889633424
2025-12-03T10:11:30+08:003751.4893575088686
2025-12-03T10:12:52+08:003759.916633819472
2025-12-03T10:44:36+08:003768.77
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
+4.6%
→
參與人數
22,520
→
人均手數
62.3
→
認購倍數
210x
210x = 22,520 × 62.3 ÷ 6,667 孖展加權 100% → 4522.5x
1x22221.0x
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
0.48
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
0.58
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 4813.4x 和當前分配手法 (甲組 α=0.479, 乙組 α=0.579) 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

標誌卓越睿新中籤預測矩陣

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 卓越睿新(02687)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