孖展動態 孖展倍數12.65x 孖展資金20.8億 捷利預測倍數18.34x
排名 券商 孖展資金
1 富途证券富途 7.4億
2 老虎国际老虎 4.2億
3 辉立证券辉立 3.6億
4 华泰国际华泰 1.7億
5 信诚证券信诚 1.0億
6 盈立证券盈立 8245萬
7 长桥证券长桥 7528萬
8 致富证券致富 4670萬
9 华盛证券华盛 3550萬
孖展倍數
時間倍數
2026-02-27T06:00:00+08:000
2026-02-27T10:22:24+08:000.0025527259466358717
2026-02-27T10:22:54+08:000.08417917704977816
2026-02-27T10:22:58+08:000.09074332948398468
2026-02-27T10:23:13+08:000.1454445997690391
2026-02-27T11:15:40+08:000.17583419437184708
2026-02-27T11:15:54+08:000.21418586276059076
2026-02-27T11:17:11+08:000.910897708624567
2026-02-27T11:17:15+08:001.0587734759618306
2026-02-27T11:17:29+08:001.4538382057983346
2026-02-27T12:06:01+08:001.5386859539293747
2026-02-27T12:06:49+08:001.5476204947426002
2026-02-27T12:07:23+08:001.6597580988269616
2026-02-27T12:07:41+08:001.7080775542454263
2026-02-27T12:07:54+08:001.9147267975445208
2026-02-27T13:43:55+08:001.9526530116088252
2026-02-27T13:44:25+08:001.9590956056646205
2026-02-27T13:45:24+08:002.0053485686500943
2026-02-27T13:45:43+08:002.0113049291922445
2026-02-27T13:46:22+08:002.430681334710995
2026-02-27T13:46:41+08:002.461070929313803
2026-02-27T14:31:09+08:002.643408496930651
2026-02-27T14:31:49+08:002.6516744666626146
2026-02-27T14:32:29+08:002.656536801799064
2026-02-27T14:32:48+08:002.706071841001641
2026-02-27T14:33:05+08:002.752932595879171
2026-02-27T14:33:24+08:002.8623351364492797
2026-02-27T15:23:15+08:002.898255637269799
2026-02-27T15:24:07+08:002.9000790129459673
2026-02-27T15:24:31+08:003.043639457849632
2026-02-27T15:24:44+08:003.0731781438035615
2026-02-27T15:24:54+08:003.2555157114204096
2026-02-27T16:08:04+08:003.266030511152981
2026-02-27T16:08:28+08:003.288701148726676
2026-02-27T16:08:58+08:003.317510484410138
2026-02-27T16:09:05+08:003.356591503069349
2026-02-27T16:09:18+08:003.490305719321704
2026-02-27T17:19:48+08:003.5170485625721755
2026-02-27T17:20:16+08:003.519297392572783
2026-02-27T17:20:41+08:003.5390506290646084
2026-02-27T17:21:01+08:003.5185680423023156
2026-02-27T17:21:22+08:003.682671853157479
2026-02-27T17:21:44+08:006.04090439433538
2026-02-27T18:01:55+08:006.066917887315383
2026-02-27T18:02:27+08:006.070807755424543
2026-02-27T18:03:26+08:006.733300917765757
2026-02-27T18:06:16+08:006.735306631009542
2026-02-27T18:06:28+08:006.762292591016836
2026-02-27T18:07:07+08:006.792682185619644
2026-02-27T21:57:34+08:006.794262444538989
2026-02-27T21:58:36+08:006.794748678052635
2026-02-27T21:58:55+08:006.795356469944691
2026-02-27T21:59:10+08:006.798638546161794
2026-02-27T22:00:58+08:006.864523187260682
2026-02-27T22:02:02+08:006.884580319698535
2026-02-27T22:03:07+08:007.097307481918191
2026-02-27T22:03:25+08:007.194554184647177
2026-02-27T22:04:10+08:007.197410806539841
2026-02-27T22:04:15+08:007.235519358171762
2026-02-27T22:06:57+08:007.241597277092324
2026-02-28T09:55:44+08:007.266152069531392
2026-02-28T09:56:09+08:007.266152069531392
2026-02-28T09:56:28+08:007.690208472618975
2026-02-28T09:56:40+08:008.00626025648818
2026-02-28T09:56:51+08:008.07293502704674
2026-02-28T09:57:07+08:008.080106971373002
2026-02-28T09:57:24+08:008.10855163192123
2026-02-28T09:57:31+08:008.109220203002492
2026-02-28T09:57:38+08:008.145687716525861
2026-02-28T09:57:53+08:008.236856500334286
2026-02-28T10:12:20+08:008.248769221418586
2026-02-28T10:12:27+08:008.306327113596305
2026-02-28T10:12:37+08:008.308272047650885
2026-02-28T10:12:46+08:008.314349966571445
2026-02-28T11:07:18+08:008.320002431167568
2026-02-28T11:07:45+08:008.321461131708503
2026-02-28T11:08:07+08:008.331307360359812
2026-02-28T11:08:19+08:008.336230474685468
2026-02-28T11:08:38+08:008.548957636905124
2026-02-28T14:21:44+08:008.573451650154986
2026-02-28T14:22:40+08:008.574728013128304
2026-02-28T14:24:52+08:008.620920196924573
2026-02-28T14:25:13+08:008.630827204765088
2026-02-28T14:25:22+08:008.632042788549201
2026-02-28T14:26:18+08:008.729289491278186
2026-02-28T14:26:36+08:008.796146599404365
2026-02-28T18:05:00+08:008.79426244453899
2026-02-28T18:06:10+08:008.80994347535404
2026-02-28T18:07:12+08:009.331003464413785
2026-02-28T18:07:47+08:009.316051783869204
2026-02-28T18:11:29+08:009.364675135233696
2026-02-28T18:11:46+08:009.370753054154257
2026-02-28T20:37:53+08:009.372333313073604
2026-02-28T20:40:19+08:009.382726554427764
2026-02-28T20:40:41+08:009.378046556858932
2026-02-28T20:40:46+08:009.383212787941408
2026-02-28T20:41:20+08:009.401446544703093
2026-02-28T20:41:44+08:009.42575822038534
2026-02-28T22:03:17+08:009.416398225247676
2026-02-28T22:03:23+08:009.417492250653376
2026-02-28T22:04:02+08:009.394943171458094
2026-02-28T22:04:16+08:009.406612775785572
2026-03-01T08:53:39+08:009.408253813894122
2026-03-01T08:53:59+08:009.410259527137908
2026-03-01T08:54:31+08:009.392025770376224
2026-03-01T09:00:08+08:009.393545250106364
2026-03-01T09:02:50+08:009.393606029295569
2026-03-01T09:04:07+08:009.353734881176685
2026-03-01T09:05:13+08:009.354585789825563
2026-03-01T09:05:43+08:009.403209141190057
2026-03-01T12:01:09+08:009.426366012277397
2026-03-01T12:01:44+08:009.443323406065764
2026-03-01T12:02:31+08:009.461557162827448
2026-03-01T12:02:36+08:009.441378472011184
2026-03-01T12:02:41+08:009.453655868230717
2026-03-01T12:17:15+08:009.453959764176746
2026-03-01T12:18:05+08:009.456087035798943
2026-03-01T12:19:04+08:009.352762414149396
2026-03-01T12:19:08+08:009.29198322494378
2026-03-01T12:19:12+08:009.377074089831641
2026-03-01T12:21:32+08:009.397799793350757
2026-03-01T12:21:41+08:009.392268887133046
2026-03-01T18:05:49+08:009.392512003889868
2026-03-01T18:05:52+08:009.393606029295569
2026-03-01T18:05:56+08:009.393484470917159
2026-03-01T18:06:00+08:009.362183188476266
2026-03-01T18:06:04+08:009.372637209019631
2026-03-01T18:06:07+08:009.372697988208838
2026-03-01T18:08:29+08:009.373123442533277
2026-03-01T18:08:33+08:009.360906825502948
2026-03-01T18:08:37+08:009.344982677931077
2026-03-01T18:10:23+08:009.347656962256124
2026-03-01T18:10:27+08:009.347960858202152
2026-03-01T18:10:31+08:009.348203974958974
2026-03-01T18:10:35+08:009.408132255515712
2026-03-01T18:10:38+08:009.409043943353796
2026-03-01T18:10:43+08:009.411049656597582
2026-03-01T18:14:11+08:009.411596669300431
2026-03-01T18:14:15+08:009.412933811462954
2026-03-01T18:14:19+08:009.4134200449766
2026-03-01T18:14:23+08:009.420713547681274
2026-03-01T18:14:26+08:009.422354585789826
2026-03-01T18:14:31+08:009.423691727952349
2026-03-01T18:17:52+08:009.435847565793472
2026-03-01T18:17:58+08:009.448003403634596
2026-03-01T18:18:02+08:009.429769646872911
2026-03-01T20:16:19+08:009.431653801738285
2026-03-01T20:17:20+08:009.442047043092446
2026-03-01T20:17:35+08:009.442472497416885
2026-03-01T20:19:04+08:009.442776393362912
2026-03-01T20:20:09+08:009.43700237038838
2026-03-01T22:37:51+08:009.412690694706132
2026-03-01T22:38:02+08:009.40053485686501
2026-03-01T22:39:05+08:009.400838752811037
2026-03-01T22:40:18+08:009.401264207135476
2026-03-01T22:40:35+08:009.408861605786178
2026-03-01T22:41:56+08:009.399683948216131
2026-03-01T22:42:04+08:009.399744727405336
2026-03-02T08:41:29+08:009.452744180392633
2026-03-02T08:43:16+08:009.47705585607488
2026-03-02T08:44:13+08:009.486111955266518
2026-03-02T08:44:16+08:009.548957636905124
2026-03-02T08:44:53+08:009.548957636905124
2026-03-02T09:04:12+08:009.585485929617699
2026-03-02T09:05:31+08:009.600498389351486
2026-03-02T09:05:56+08:009.636236552604387
2026-03-02T09:06:21+08:009.64231447152495
2026-03-02T09:06:55+08:009.644441743147146
2026-03-02T09:08:00+08:009.719139366680848
2026-03-02T09:29:44+08:009.752567920743937
2026-03-02T10:15:59+08:009.738892603172674
2026-03-02T10:16:19+08:009.92487692214186
2026-03-02T10:16:48+08:0010.113292408679268
2026-03-02T10:17:58+08:0010.124536558682307
2026-03-02T10:18:47+08:0010.133774995441561
2026-03-02T11:08:34+08:0010.147571871391236
2026-03-02T11:09:00+08:0010.149638363824227
2026-03-02T11:09:18+08:0010.12866954354829
2026-03-02T11:09:47+08:0010.031422840819303
2026-03-02T11:10:39+08:0010.035920500820518
2026-03-02T12:05:05+08:0010.04047894001094
2026-03-02T12:05:36+08:0010.041816082173463
2026-03-02T12:06:35+08:009.57533580502036
2026-03-02T12:06:51+08:009.540144654470309
2026-03-02T12:07:19+08:009.661703032881542
2026-03-02T13:47:50+08:009.663222512611682
2026-03-02T13:48:16+08:009.664377317206588
2026-03-02T13:48:49+08:009.666261472071962
2026-03-02T13:49:11+08:009.667902510180514
2026-03-02T13:49:42+08:009.813772564273993
2026-03-02T14:03:43+08:009.814805810490489
2026-03-02T14:04:05+08:009.81991126238376
2026-03-02T14:04:55+08:009.831216191576004
2026-03-02T14:05:24+08:009.873761624019936
2026-03-02T14:06:09+08:009.880751230778582
2026-03-02T14:10:32+08:009.931319516197654
2026-03-02T14:42:37+08:0010.356773840636967
2026-03-02T15:10:43+08:0010.385826293077251
2026-03-02T15:10:58+08:0010.414757187139124
2026-03-02T15:11:24+08:0010.487692214185863
2026-03-02T15:11:56+08:0010.439433537956603
2026-03-02T15:12:45+08:0010.442411718227678
2026-03-02T16:15:14+08:0010.438035616604875
2026-03-02T16:16:25+08:0010.438461070929314
2026-03-02T16:16:50+08:0010.449279766607914
2026-03-02T16:17:37+08:0010.450191454445998
2026-03-02T16:18:30+08:0010.517048562572175
2026-03-02T17:03:54+08:0010.498450130675257
2026-03-02T17:04:39+08:0010.505682854190725
2026-03-02T17:05:08+08:0010.510666747705585
2026-03-02T17:05:36+08:0010.44988755849997
2026-03-02T17:55:40+08:0010.82671853157479
2026-03-02T18:12:12+08:0010.827873336169695
2026-03-02T18:12:49+08:0010.84805202698596
2026-03-02T18:13:38+08:0010.848355922931988
2026-03-02T18:13:48+08:0010.810125812921656
2026-03-02T18:14:06+08:0010.797969975080532
2026-03-02T18:16:21+08:0010.83072995806236
2026-03-02T20:20:51+08:0010.831337749954416
2026-03-02T20:21:41+08:0010.832614112927734
2026-03-02T20:22:23+08:0010.826232298061145
2026-03-02T20:23:02+08:0010.826353856439555
2026-03-02T20:24:11+08:0010.820275937518993
2026-03-02T22:04:52+08:0010.82045827508661
2026-03-02T22:05:14+08:0010.80909256670516
2026-03-02T22:06:10+08:0010.822220871573574
2026-03-02T22:07:06+08:0010.889077979699751
2026-03-02T22:07:23+08:0010.883000060779189
2026-03-03T08:38:43+08:0010.891083692943536
2026-03-03T08:38:49+08:0010.898681091594238
2026-03-03T08:38:52+08:0010.947000547012703
2026-03-03T08:40:00+08:0011.335987357928646
2026-03-03T08:41:41+08:0011.335987357928646
2026-03-03T09:00:37+08:0011.399258493891692
2026-03-03T09:01:32+08:0011.43712392876679
2026-03-03T09:03:54+08:0011.53582933203671
2026-03-03T09:05:41+08:0011.544399197714702
2026-03-03T09:06:09+08:0011.630097854494622
2026-03-03T09:06:33+08:0011.684799124779676
2026-03-03T09:28:07+08:0011.715188719382484
2026-03-03T10:01:34+08:0011.728438582629307
2026-03-03T10:02:34+08:0011.733361696954963
2026-03-03T10:04:49+08:0011.733969488847018
2026-03-03T10:05:29+08:0011.73506351425272
2026-03-03T10:06:54+08:0011.564881784476995
2026-03-03T11:10:15+08:0011.56482100528779
2026-03-03T11:10:45+08:0011.60292955691971
2026-03-03T11:11:13+08:0011.63939707044308
2026-03-03T11:11:49+08:0011.656536801799064
2026-03-03T11:12:21+08:0011.66462043396341
2026-03-03T12:02:19+08:0011.667477055856075
2026-03-03T12:02:40+08:0011.667598614234485
2026-03-03T12:04:01+08:0011.742478575335806
2026-03-03T12:04:32+08:0011.745639093174496
2026-03-03T12:05:34+08:0011.690937822889442
2026-03-03T13:47:10+08:0011.688263538564396
2026-03-03T13:47:31+08:0011.745031301282442
2026-03-03T13:48:02+08:0011.890901355375918
2026-03-03T13:49:32+08:0011.895338236187929
2026-03-03T13:49:55+08:0011.897040053485686
2026-03-03T14:01:01+08:0011.888895642132134
2026-03-03T14:01:46+08:0011.90323953078466
2026-03-03T14:03:27+08:0011.426548349845014
2026-03-03T14:05:31+08:0011.427520816872303
2026-03-03T14:05:54+08:0011.542393484470917
2026-03-03T14:06:24+08:0011.505925970947548
2026-03-03T15:11:30+08:0011.507080775542454
2026-03-03T15:12:06+08:0011.511943110678903
2026-03-03T15:14:17+08:0011.480581049048805
2026-03-03T15:14:42+08:0011.46234729228712
2026-03-03T16:04:06+08:0011.462468850665532
2026-03-03T16:04:42+08:0011.483620008509087
2026-03-03T16:07:18+08:0011.49577584635021
2026-03-03T17:13:50+08:0011.497477663647967
2026-03-03T17:15:14+08:0011.488786239591564
2026-03-03T17:15:31+08:0011.640734212605604
2026-03-03T17:47:51+08:0013.160213942746005
2026-03-03T18:04:23+08:0013.361940071719443
2026-03-03T18:06:59+08:0013.362487084422293
2026-03-03T18:07:36+08:0013.238375980064426
2026-03-03T18:08:02+08:0013.29307725034948
2026-03-03T20:16:26+08:0013.293745821430742
2026-03-03T20:19:57+08:0013.34188293928159
2026-03-03T20:20:25+08:0013.335805020361029
2026-03-03T22:07:42+08:0013.336108916307056
2026-03-03T22:08:32+08:0013.308636722786119
2026-03-03T22:10:22+08:0013.27824712818331
2026-03-04T08:46:20+08:0013.262019084665411
2026-03-04T08:46:23+08:0013.274904272777
2026-03-04T08:48:04+08:0013.274904272777
2026-03-04T08:48:47+08:0013.785449462104175
2026-03-04T09:10:26+08:0013.88840940861849
2026-03-04T09:11:16+08:0014.016045705950283
2026-03-04T09:13:20+08:0014.38983771956482
2026-03-04T10:14:32+08:0014.396948884701878
2026-03-04T10:15:07+08:0014.433416398225248
2026-03-04T11:04:09+08:0012.366923965234303
2026-03-04T16:55:43+08:0012.65
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
-0.2%
→
參與人數
29,741
→
人均手數
55.9
→
認購倍數
34x
34x = 29,741 × 55.9 ÷ 48,390 A+H二次上市 · 參與×0.45 機械人 H股折價 35.4% 孖展加權 100% → 18.3x
1x6727.0x
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
0.61
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
0.71
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 19.67x 和當前分配手法 (甲組 α=0.609, 乙組 α=0.709) 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

標誌埃斯顿中籤預測矩陣

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 埃斯顿(02715)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