孖展動態 孖展倍數4060.48x 孖展資金2043.5億 捷利預測倍數5238.02x
排名 券商 孖展資金
1 富途证券富途 1310.1億
2 辉立证券辉立 296.0億
3 老虎国际老虎 221.8億
4 华泰国际华泰 70.4億
5 华盛证券华盛 32.5億
6 盈立证券盈立 30.1億
7 致富证券致富 26.3億
8 复星国际复星 15.6億
9 熊猫证券熊猫 14.0億
孖展倍數
時間倍數
2026-05-18T06:00:00+08:000
2026-05-18T10:09:17+08:000.006358036956089807
2026-05-18T10:09:29+08:000.4065169878799921
2026-05-18T10:09:36+08:001.0423206834889729
2026-05-18T11:10:42+08:001.0425193721438506
2026-05-18T11:11:02+08:002.4452612755811645
2026-05-18T11:11:30+08:004.928869461553745
2026-05-18T11:53:14+08:004.9845022849195315
2026-05-18T11:53:44+08:005.143453208821776
2026-05-18T12:08:20+08:005.235644744685079
2026-05-18T12:09:33+08:005.945559308563481
2026-05-18T12:10:13+08:007.018478044903636
2026-05-18T12:10:35+08:007.034174448638983
2026-05-18T13:44:33+08:007.146632227299821
2026-05-18T13:44:45+08:007.146830915954699
2026-05-18T13:45:53+08:007.431750447049473
2026-05-18T13:46:05+08:007.432743890323862
2026-05-18T13:46:27+08:008.58513808861514
2026-05-18T13:47:49+08:008.654480429167494
2026-05-18T13:48:08+08:008.664216173256508
2026-05-18T14:29:45+08:009.146036161335187
2026-05-18T14:30:38+08:009.58156169282734
2026-05-18T14:30:58+08:0010.276971984899662
2026-05-18T14:31:29+08:0010.286509040333797
2026-05-18T14:31:51+08:0010.50268229684085
2026-05-18T14:33:11+08:0011.068944963242599
2026-05-18T15:07:45+08:0011.07868070733161
2026-05-18T15:08:08+08:0011.255314921517982
2026-05-18T15:08:53+08:0011.292271011325253
2026-05-18T15:09:20+08:0011.928074706934234
2026-05-18T15:42:16+08:0011.929068150208623
2026-05-18T15:42:30+08:0012.16749453606199
2026-05-18T16:09:29+08:0012.300218557520365
2026-05-18T16:10:20+08:0013.194317504470495
2026-05-18T16:10:49+08:0013.196900456983906
2026-05-18T16:11:01+08:0013.2282932644546
2026-05-18T16:11:30+08:0013.790979535068548
2026-05-18T16:34:46+08:0013.88396582555136
2026-05-18T17:16:25+08:0013.892310749056229
2026-05-18T17:16:58+08:0014.120007947546195
2026-05-18T17:18:03+08:0015.073713490959666
2026-05-18T17:35:41+08:0015.07868070733161
2026-05-18T18:09:38+08:0015.763759189350289
2026-05-18T18:09:54+08:0019.141466322272997
2026-05-18T18:10:06+08:0019.16570633816809
2026-05-18T18:10:28+08:0020.91297436916352
2026-05-18T18:11:08+08:0020.99483409497318
2026-05-18T18:11:25+08:0030.432545201668983
2026-05-18T18:12:35+08:0030.411484204251938
2026-05-18T20:13:08+08:0030.82773693622094
2026-05-18T20:14:07+08:0031.350089409894697
2026-05-18T20:14:37+08:0031.657063381680906
2026-05-18T20:15:17+08:0034.2104112855156
2026-05-18T20:15:37+08:0041.899662229286704
2026-05-18T20:15:59+08:0046.33041923306179
2026-05-18T22:04:06+08:0046.338565467911785
2026-05-18T22:04:40+08:0046.36856745479833
2026-05-18T22:05:17+08:0048.12418040929863
2026-05-18T22:05:36+08:0050.46870653685674
2026-05-18T22:05:55+08:0055.873037949533085
2026-05-19T08:37:48+08:0057.1011325253328
2026-05-19T08:37:50+08:0058.08404530101331
2026-05-19T08:38:22+08:0058.099940393403536
2026-05-19T08:38:25+08:0058.03437313729386
2026-05-19T08:39:14+08:0058.03437313729386
2026-05-19T08:39:35+08:0076.2739916550765
2026-05-19T09:00:39+08:0079.75124180409298
2026-05-19T09:02:10+08:0082.68348897277966
2026-05-19T09:13:48+08:0083.12278958871448
2026-05-19T09:14:19+08:0083.3500894098947
2026-05-19T09:14:46+08:0083.36777270017882
2026-05-19T09:15:28+08:0087.85813630041724
2026-05-19T09:16:08+08:0088.25551361017286
2026-05-19T10:02:14+08:0089.02900854361216
2026-05-19T10:03:07+08:0090.17464732763759
2026-05-19T10:03:52+08:0090.39062189548977
2026-05-19T10:04:16+08:0090.85595072521359
2026-05-19T10:04:34+08:0090.88217762765746
2026-05-19T10:05:36+08:00100.39936419630439
2026-05-19T10:30:59+08:00100.53685674547984
2026-05-19T11:05:09+08:00101.59308563481025
2026-05-19T11:05:23+08:00101.86846811047089
2026-05-19T11:06:17+08:00103.16570633816809
2026-05-19T11:06:46+08:00103.18835684482416
2026-05-19T11:07:05+08:00113.54003576395787
2026-05-19T11:36:52+08:00113.7152791575601
2026-05-19T11:50:36+08:00114.47029604609577
2026-05-19T12:08:08+08:00115.48480031790184
2026-05-19T12:09:06+08:00115.49692032584939
2026-05-19T12:09:33+08:00116.27319690045698
2026-05-19T12:10:17+08:00116.37730975561296
2026-05-19T12:10:32+08:00125.29843035962647
2026-05-19T13:43:45+08:00125.37373335982515
2026-05-19T13:43:54+08:00125.41366977945559
2026-05-19T13:44:23+08:00125.96999801311345
2026-05-19T13:44:46+08:00125.92012716073913
2026-05-19T13:45:21+08:00125.92092191535863
2026-05-19T13:45:39+08:00134.66322272998212
2026-05-19T13:46:01+08:00135.40830518577388
2026-05-19T14:16:05+08:00136.13570435128153
2026-05-19T14:16:18+08:00136.46671965030797
2026-05-19T14:16:36+08:00138.41386846811048
2026-05-19T14:16:53+08:00138.4512219352275
2026-05-19T14:18:00+08:00145.40532485595074
2026-05-19T14:18:39+08:00147.27856149413867
2026-05-19T15:03:00+08:00147.28054838068746
2026-05-19T15:03:29+08:00148.34134710908006
2026-05-19T15:04:18+08:00150.6264653288297
2026-05-19T15:04:40+08:00150.655275183787
2026-05-19T15:05:20+08:00151.39082058414465
2026-05-19T15:05:46+08:00161.7027617723028
2026-05-19T15:31:42+08:00162.20882177627658
2026-05-19T16:01:58+08:00163.15895092390224
2026-05-19T16:02:14+08:00163.41506060003974
2026-05-19T17:14:16+08:00171.64077091198092
2026-05-19T17:14:25+08:00183.04549970196703
2026-05-19T17:15:20+08:00185.93582356447448
2026-05-19T17:15:23+08:00188.64573812835286
2026-05-19T17:16:29+08:00188.65746075899065
2026-05-19T17:16:44+08:00188.67355454003575
2026-05-19T17:17:57+08:00188.88356844824162
2026-05-19T17:18:28+08:00191.06914365189746
2026-05-19T17:18:48+08:00192.25650705344725
2026-05-19T17:19:23+08:00192.40532485595074
2026-05-19T17:39:35+08:00192.61653089608583
2026-05-19T18:00:10+08:00193.1531889529108
2026-05-19T18:00:39+08:00195.73614146632227
2026-05-19T18:01:10+08:00195.91714683091595
2026-05-19T18:02:01+08:00198.45440095370554
2026-05-19T18:03:28+08:00199.12855155970595
2026-05-19T18:03:48+08:00199.12000794754618
2026-05-19T18:26:57+08:00205.35883171070932
2026-05-19T20:21:54+08:00205.46433538644942
2026-05-19T20:22:49+08:00205.50983508841645
2026-05-19T20:23:17+08:00207.18199880786807
2026-05-19T20:23:32+08:00211.19550963639975
2026-05-19T20:23:46+08:00214.29505265249355
2026-05-19T21:52:35+08:00214.3107490562289
2026-05-19T21:52:51+08:00216.27816411682892
2026-05-19T21:53:04+08:00216.31651102722034
2026-05-19T21:53:13+08:00218.3232664414862
2026-05-19T22:08:41+08:00219.84025432147826
2026-05-19T22:08:55+08:00219.92012716073913
2026-05-19T22:09:04+08:00224.4700973574409
2026-05-20T08:10:09+08:00225.7099145638784
2026-05-20T08:10:19+08:00230.43532684283727
2026-05-20T08:10:35+08:00230.48460162924698
2026-05-20T08:10:44+08:00230.60679515199683
2026-05-20T08:11:01+08:00230.60679515199683
2026-05-20T08:11:14+08:00256.5356646135506
2026-05-20T09:11:50+08:00260.9582753824757
2026-05-20T09:12:01+08:00261.4085038744288
2026-05-20T09:12:07+08:00263.2928670772899
2026-05-20T09:12:14+08:00263.57063381680905
2026-05-20T09:12:21+08:00271.5579177428969
2026-05-20T10:07:36+08:00272.32783628054835
2026-05-20T10:07:49+08:00273.1225909000596
2026-05-20T10:07:55+08:00273.96562686270613
2026-05-20T10:08:01+08:00274.24577786608387
2026-05-20T10:08:11+08:00277.37432942578977
2026-05-20T10:08:26+08:00290.2890919928472
2026-05-20T11:04:23+08:00290.5002980329823
2026-05-20T11:05:12+08:00291.05304987085236
2026-05-20T11:05:42+08:00291.50248360818597
2026-05-20T11:06:05+08:00293.85515597059407
2026-05-20T11:06:50+08:00293.87542221339163
2026-05-20T11:06:59+08:00306.47228293264453
2026-05-20T12:11:32+08:00306.78640969600633
2026-05-20T12:11:58+08:00307.2594873832704
2026-05-20T12:12:43+08:00307.4816212994238
2026-05-20T12:13:06+08:00308.9149612557123
2026-05-20T12:13:35+08:00309.06556725610966
2026-05-20T12:13:42+08:00319.55632823365784
2026-05-20T12:39:19+08:00320.3312139876813
2026-05-20T13:40:30+08:00320.9632425988476
2026-05-20T13:41:12+08:00321.1120604013511
2026-05-20T13:41:37+08:00323.45281144446653
2026-05-20T13:42:19+08:00323.5318895291079
2026-05-20T13:42:30+08:00333.1682892906815
2026-05-20T13:43:02+08:00333.36717663421416
2026-05-20T14:10:08+08:00333.59407907808463
2026-05-20T14:10:26+08:00333.81402741903435
2026-05-20T14:11:18+08:00336.0913967812438
2026-05-20T14:12:11+08:00336.1710709318498
2026-05-20T14:12:20+08:00350.05940790780846
2026-05-20T14:52:26+08:00354.4901649115836
2026-05-20T14:54:54+08:00354.8460162924697
2026-05-20T15:05:55+08:00355.3634015497715
2026-05-20T15:06:24+08:00355.5175839459567
2026-05-20T15:06:58+08:00357.3016093781045
2026-05-20T15:07:29+08:00357.33955891118615
2026-05-20T15:07:34+08:00371.84383071726603
2026-05-20T16:09:56+08:00372.59407907808463
2026-05-20T16:10:22+08:00374.3822769719849
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2026-05-20T16:11:29+08:00418.52592886946155
2026-05-20T16:11:52+08:00418.575601033181
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2026-05-20T17:17:49+08:00691.198489966223
2026-05-20T17:18:06+08:00691.2388237631632
2026-05-20T17:18:12+08:00947.7458772104113
2026-05-20T17:50:16+08:00953.3091595469899
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2026-05-20T17:50:44+08:001079.014901649116
2026-05-20T17:50:58+08:001081.3991655076495
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2026-05-20T18:02:59+08:001137.320286111663
2026-05-20T18:03:31+08:001142.1202066362011
2026-05-20T18:03:52+08:001171.9811245777867
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2026-05-20T21:35:59+08:001594.6298430359627
2026-05-20T21:36:34+08:001612.638982714087
2026-05-20T21:36:55+08:001614.95966620306
2026-05-20T21:37:08+08:001733.1794158553546
2026-05-20T22:09:56+08:001757.3792966421618
2026-05-20T22:10:09+08:001760.2964434730777
2026-05-20T22:10:22+08:001915.4126763361812
2026-05-21T08:42:50+08:001952.755811643155
2026-05-21T08:43:01+08:002040.7878005165906
2026-05-21T08:43:42+08:002043.9908603218755
2026-05-21T08:43:53+08:002048.6671965030796
2026-05-21T08:44:50+08:002754.5682495529504
2026-05-21T08:45:28+08:002754.5682495529504
2026-05-21T08:45:49+08:002782.2257103119414
2026-05-21T09:00:34+08:002790.5082455791776
2026-05-21T09:01:46+08:002810.917146830916
2026-05-21T09:02:54+08:002899.632823365786
2026-05-21T09:07:40+08:002924.5344724816214
2026-05-21T09:08:05+08:002925.6203059805284
2026-05-21T09:08:33+08:003113.5797734949333
2026-05-21T09:40:28+08:003118.149612557123
2026-05-21T09:40:48+08:003135.678521756408
2026-05-21T10:09:52+08:003139.3163123385657
2026-05-21T10:10:21+08:003177.7601827935623
2026-05-21T10:11:04+08:003539.8106497119015
2026-05-21T11:07:29+08:003544.184780449036
2026-05-21T11:48:22+08:004007.1293463143256
2026-05-21T17:31:20+08:004060.48
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
21,056
→
人均手數
67.7
→
認購倍數
157x
157x = 21,056 × 67.7 ÷ 9,068 孖展加權 100% → 5238.0x
1x19869.0x
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
0.52
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 5480.23x 和當前分配手法 (甲組 α=0.522, 乙組 α=0.576) 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

標誌深演智能中籤預測矩陣

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 深演智能(02723)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