孖展動態 孖展倍數171.93x 孖展資金62.9億 捷利預測倍數199.44x
排名 券商 孖展資金
1 富途证券富途 29.6億
2 辉立证券辉立 26.0億
3 老虎国际老虎 4.2億
4 华泰国际华泰 1.4億
5 华盛证券华盛 6250萬
6 盈立证券盈立 4216萬
7 信诚证券信诚 2000萬
9 卓锐证券 1614萬
10 长桥证券长桥 1103萬
11 TradeGo MarketsTradeGo 997萬
12 FunderstoneFunderstone 388萬
13 艾德证券艾德 328萬
14 盈宝证券盈宝 9萬
孖展倍數
時間倍數
2025-12-18T06:00:00+08:000
2025-12-18T10:24:14+08:000.008479212253829322
2025-12-18T10:25:37+08:000.199945295404814
2025-12-18T11:09:22+08:000.2149890590809628
2025-12-18T11:10:12+08:000.21717724288840262
2025-12-18T11:10:19+08:000.22565645514223195
2025-12-18T11:11:04+08:001.0735776805251642
2025-12-18T12:03:22+08:001.076859956236324
2025-12-18T12:05:07+08:001.2989606126914661
2025-12-18T12:05:51+08:001.299781181619256
2025-12-18T12:06:08+08:000.9715536105032823
2025-12-18T13:47:14+08:000.9833150984682714
2025-12-18T13:47:31+08:001.010667396061269
2025-12-18T13:49:33+08:001.0144967177242887
2025-12-18T13:49:40+08:001.024617067833698
2025-12-18T14:04:00+08:001.0333698030634573
2025-12-18T14:04:17+08:001.0445842450765865
2025-12-18T14:04:59+08:001.0670131291028446
2025-12-18T14:06:02+08:002.0790481400437635
2025-12-18T14:08:31+08:002.091083150984683
2025-12-18T14:49:12+08:002.1184354485776806
2025-12-18T15:31:41+08:002.1219912472647704
2025-12-18T15:32:30+08:002.137582056892779
2025-12-18T15:33:06+08:002.153719912472648
2025-12-18T15:33:33+08:002.7554704595185995
2025-12-18T16:56:06+08:002.7582056892778994
2025-12-18T16:56:09+08:002.762582056892779
2025-12-18T16:57:21+08:002.771061269146608
2025-12-18T16:57:45+08:002.774617067833698
2025-12-18T17:00:49+08:002.7768052516411377
2025-12-18T17:04:55+08:002.789660831509847
2025-12-18T17:05:36+08:002.801422319474836
2025-12-18T17:06:43+08:002.8834792122538295
2025-12-18T18:10:17+08:004.4152078774617065
2025-12-18T18:10:35+08:004.442833698030634
2025-12-18T18:11:13+08:004.49562363238512
2025-12-18T18:12:38+08:004.604485776805252
2025-12-18T18:13:17+08:004.610503282275711
2025-12-18T18:13:29+08:004.692560175054704
2025-12-18T18:16:46+08:004.699398249452954
2025-12-18T20:24:11+08:004.706509846827133
2025-12-18T20:26:16+08:004.768873085339169
2025-12-18T20:27:16+08:004.774890590809628
2025-12-18T20:27:41+08:004.936269146608315
2025-12-18T20:28:07+08:004.963621444201313
2025-12-18T20:28:31+08:005.319201312910285
2025-12-18T21:38:45+08:005.322210065645514
2025-12-18T21:38:55+08:005.486323851203501
2025-12-18T22:06:19+08:005.927789934354486
2025-12-18T22:06:52+08:005.941739606126915
2025-12-18T22:07:03+08:006.269967177242888
2025-12-19T08:37:54+08:006.300875273522976
2025-12-19T08:37:57+08:006.351750547045952
2025-12-19T08:40:10+08:006.679978118161926
2025-12-19T08:45:21+08:006.700765864332604
2025-12-19T08:46:40+08:006.700765864332604
2025-12-19T09:03:11+08:006.762855579868709
2025-12-19T09:04:05+08:006.7598468271334795
2025-12-19T09:07:16+08:006.677789934354486
2025-12-19T09:09:46+08:006.692833698030634
2025-12-19T09:39:33+08:006.706509846827133
2025-12-19T10:13:58+08:006.723468271334792
2025-12-19T10:15:50+08:006.714442013129103
2025-12-19T10:16:03+08:006.7319474835886215
2025-12-19T10:16:10+08:007.196936542669584
2025-12-19T11:00:36+08:007.211159737417943
2025-12-19T11:08:08+08:007.216083150984683
2025-12-19T11:08:56+08:007.25437636761488
2025-12-19T11:10:49+08:007.4458424507658645
2025-12-19T12:04:09+08:007.4570568927789935
2025-12-19T12:05:43+08:007.469638949671772
2025-12-19T12:06:14+08:007.474015317286652
2025-12-19T12:06:36+08:007.774890590809628
2025-12-19T13:42:01+08:007.785010940919038
2025-12-19T13:42:52+08:007.8011487964989055
2025-12-19T13:43:32+08:007.805251641137856
2025-12-19T13:43:54+08:007.832603938730854
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2025-12-19T14:09:12+08:007.891684901531729
2025-12-19T14:10:02+08:007.99917943107221
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2025-12-19T14:12:56+08:008.002735229759299
2025-12-19T15:08:01+08:008.00300875273523
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2025-12-19T16:00:35+08:008.11214442013129
2025-12-19T16:01:57+08:008.358315098468271
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2025-12-19T16:04:48+08:008.36761487964989
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2025-12-19T17:03:13+08:008.894420131291028
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2025-12-19T17:05:04+08:008.967450765864333
2025-12-19T17:05:40+08:009.678610503282275
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2025-12-19T18:09:32+08:009.901258205689278
2025-12-19T18:10:57+08:009.845185995623632
2025-12-19T18:11:23+08:0010.050328227571116
2025-12-19T18:11:28+08:0010.679431072210066
2025-12-19T18:19:53+08:0010.735503282275712
2025-12-19T20:19:48+08:0010.73522975929978
2025-12-19T20:21:25+08:0010.74398249452954
2025-12-19T20:21:34+08:0011.044857768052516
2025-12-19T20:22:36+08:0011.060448577680525
2025-12-19T20:22:57+08:0011.13074398249453
2025-12-19T20:23:06+08:0011.048687089715536
2025-12-19T22:20:38+08:0011.041575492341357
2025-12-19T22:20:51+08:0011.043763676148796
2025-12-19T22:21:21+08:0010.903993435448578
2025-12-19T22:21:40+08:0010.906181619256017
2025-12-19T22:21:55+08:0010.960886214442013
2025-12-19T22:22:16+08:0011.070295404814004
2025-12-19T23:05:54+08:0011.069748358862144
2025-12-19T23:06:32+08:0011.070021881838075
2025-12-20T10:13:03+08:0011.092997811816193
2025-12-20T10:13:07+08:0011.093544857768052
2025-12-20T10:24:20+08:0011.099835886214443
2025-12-20T10:24:24+08:0011.150437636761488
2025-12-20T10:24:43+08:0011.423960612691467
2025-12-20T10:24:46+08:0011.588074398249454
2025-12-20T10:29:23+08:0011.688183807439826
2025-12-20T10:29:26+08:0011.691739606126914
2025-12-20T10:34:01+08:0011.691739606126914
2025-12-20T12:34:29+08:0011.675328227571116
2025-12-20T12:37:10+08:0012.167669584245077
2025-12-20T12:37:31+08:0012.195021881838075
2025-12-20T12:39:47+08:0012.196663019693654
2025-12-20T12:40:12+08:0012.225656455142232
2025-12-20T15:53:28+08:0012.226477024070022
2025-12-20T15:53:33+08:0012.228391684901531
2025-12-20T15:53:38+08:0012.230032822757112
2025-12-20T15:56:26+08:0012.394146608315099
2025-12-20T15:58:29+08:0012.437089715536105
2025-12-20T15:58:33+08:0012.437363238512035
2025-12-20T15:58:37+08:0012.449671772428884
2025-12-20T16:00:27+08:0012.49206783369803
2025-12-20T21:42:51+08:0012.550328227571116
2025-12-20T21:42:55+08:0012.556345733041576
2025-12-20T21:42:59+08:0012.558533916849015
2025-12-20T21:43:04+08:0012.562089715536105
2025-12-20T21:50:30+08:0012.564551422319475
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2025-12-20T21:50:40+08:0012.564824945295404
2025-12-20T21:51:31+08:0012.6195295404814
2025-12-20T21:51:36+08:0012.701586433260394
2025-12-20T21:51:42+08:0012.728938730853391
2025-12-20T21:51:47+08:0012.86570021881838
2025-12-20T21:51:52+08:0012.893052516411379
2025-12-20T21:51:56+08:0012.920404814004376
2025-12-20T21:56:51+08:0012.920951859956237
2025-12-20T21:56:54+08:0012.921498905908097
2025-12-20T21:56:58+08:0012.923140043763675
2025-12-20T22:05:51+08:0012.924781181619256
2025-12-21T10:05:12+08:0012.919857768052516
2025-12-21T10:06:41+08:0012.943107221006565
2025-12-21T10:08:28+08:0012.970185995623632
2025-12-21T10:09:16+08:0012.806072210065645
2025-12-21T10:09:43+08:0012.833424507658643
2025-12-21T10:10:06+08:0012.860776805251641
2025-12-21T12:22:57+08:0012.862964989059082
2025-12-21T12:24:46+08:0012.908096280087527
2025-12-21T12:24:59+08:0012.99015317286652
2025-12-21T12:25:21+08:0013.017505470459518
2025-12-21T16:30:38+08:0013.018052516411379
2025-12-21T16:32:00+08:0013.022428884026258
2025-12-21T16:33:30+08:0013.208698030634574
2025-12-21T16:34:46+08:0013.345459518599561
2025-12-21T16:35:09+08:0013.536925601750546
2025-12-21T18:12:14+08:0013.541849015317286
2025-12-21T18:14:02+08:0013.560722100656456
2025-12-21T18:14:21+08:0013.533369803063458
2025-12-21T20:08:13+08:0013.534190371991247
2025-12-21T20:09:16+08:0013.566192560175054
2025-12-21T20:09:25+08:0013.429431072210066
2025-12-21T20:10:26+08:0013.480032822757112
2025-12-21T20:10:35+08:0013.671498905908097
2025-12-21T21:09:41+08:0013.673413566739606
2025-12-21T21:09:51+08:0013.837527352297593
2025-12-21T22:11:45+08:0013.838621444201314
2025-12-21T22:12:04+08:0013.687089715536105
2025-12-21T22:12:14+08:0013.796498905908097
2025-12-22T08:58:44+08:0014.179431072210066
2025-12-22T08:58:47+08:0014.268873085339168
2025-12-22T09:00:33+08:0014.569748358862144
2025-12-22T09:01:19+08:0014.602571115973742
2025-12-22T09:02:01+08:0014.602571115973742
2025-12-22T09:05:13+08:0014.61159737417943
2025-12-22T09:05:54+08:0014.61460612691466
2025-12-22T09:07:40+08:0014.942833698030634
2025-12-22T10:04:52+08:0014.970185995623632
2025-12-22T10:05:18+08:0014.99206783369803
2025-12-22T10:06:29+08:0014.818927789934355
2025-12-22T10:06:55+08:0014.704595185995624
2025-12-22T10:07:17+08:0015.415754923413568
2025-12-22T11:10:16+08:0015.166028446389497
2025-12-22T11:10:41+08:0015.688730853391684
2025-12-22T11:11:39+08:0016.12171772428884
2025-12-22T11:12:22+08:0018.227844638949673
2025-12-22T12:20:48+08:0018.235776805251643
2025-12-22T12:22:17+08:0018.306892778993436
2025-12-22T12:23:00+08:0019.23687089715536
2025-12-22T12:24:16+08:0019.27160831509847
2025-12-22T13:51:40+08:0020.201586433260395
2025-12-22T13:52:25+08:0020.415207877461707
2025-12-22T13:52:50+08:0020.414660831509845
2025-12-22T13:53:26+08:0020.430798687089716
2025-12-22T14:02:47+08:0020.437363238512035
2025-12-22T14:04:11+08:0020.423413566739605
2025-12-22T14:05:32+08:0020.51066739606127
2025-12-22T14:06:04+08:0022.233862144420133
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2025-12-22T21:31:33+08:0057.39879649890591
2025-12-22T21:31:46+08:0060.35284463894967
2025-12-22T22:10:18+08:0060.5839715536105
2025-12-22T22:10:30+08:0064.65946389496717
2025-12-23T08:56:03+08:0065.57904814004377
2025-12-23T08:56:15+08:0065.57904814004377
2025-12-23T08:56:40+08:0067.34409190371991
2025-12-23T08:56:48+08:0087.01039387308533
2025-12-23T09:10:43+08:0087.79403719912473
2025-12-23T09:10:49+08:0095.6167943107221
2025-12-23T10:11:57+08:0096.71088621444201
2025-12-23T10:12:03+08:0096.71088621444201
2025-12-23T10:12:08+08:0098.11132385120351
2025-12-23T10:12:15+08:00114.13977024070022
2025-12-23T10:59:39+08:00116.91110503282276
2025-12-23T11:07:25+08:00171.4789387308534
2025-12-23T16:46:54+08:00171.93
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
17,731
→
人均手數
111.2
→
認購倍數
329x
329x = 17,731 × 111.2 ÷ 5,994 孖展加權 100% → 199.4x
1x27349.0x
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
0.51
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
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 256.01x 和當前分配手法 (甲組 α=0.510, 乙組 α=0.610) 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

標誌五一視界中籤預測矩陣

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

18C特專科技

《主板規則》第18C章,爲特專科技公司設立。機制A及機制B不適用。初訂分配份額爲5%,回補門檻:10倍至不足50倍→10%,50倍或以上→20%。根據第18C.08條,發售股份總數中至少50%須由配售部分的獨立定價投資者認購。

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 五一視界(06651)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