孖展動態 孖展倍數814.9x 孖展資金3586.1億 捷利預測倍數1059.37x
排名 券商 孖展資金
1 富途证券富途 2129.0億
2 辉立证券辉立 733.0億
3 老虎国际老虎 340.7億
4 华泰国际华泰 109.9億
5 招银国际招银 70.0億
6 信诚证券信诚 50.0億
7 华盛证券华盛 45.5億
8 盈立证券盈立 23.0億
9 长桥证券长桥 22.0億
孖展倍數
時間倍數
2026-04-08T06:00:00+08:000
2026-04-08T10:08:35+08:000.045447315199854565
2026-04-08T10:08:44+08:000.6581680187242939
2026-04-08T10:08:49+08:002.5124184788783603
2026-04-08T10:52:02+08:002.698752471197764
2026-04-08T11:14:02+08:002.7444951939464177
2026-04-08T11:14:21+08:003.264412479832754
2026-04-08T11:14:34+08:0010.38146204012998
2026-04-08T11:14:42+08:0010.613243347649238
2026-04-08T12:09:27+08:0010.633194719021974
2026-04-08T12:09:40+08:0011.625945872247597
2026-04-08T12:09:49+08:0015.943440816233782
2026-04-08T13:38:13+08:0015.94984888767696
2026-04-08T13:38:28+08:0016.476015179403277
2026-04-08T13:38:34+08:0021.104824232508463
2026-04-08T13:44:23+08:0021.436589633467403
2026-04-08T14:11:00+08:0021.442838639307382
2026-04-08T14:11:06+08:0022.638148476378756
2026-04-08T14:11:12+08:0025.110482423250847
2026-04-08T14:11:39+08:0026.57295430272457
2026-04-08T15:03:43+08:0026.580384938759742
2026-04-08T15:04:14+08:0027.35226214011407
2026-04-08T15:05:17+08:0030.851705410502873
2026-04-08T16:02:20+08:0031.892221692003545
2026-04-08T16:04:07+08:0032.89158542959075
2026-04-08T16:05:14+08:0035.50935078510237
2026-04-08T17:09:14+08:0035.51128229599836
2026-04-08T17:09:24+08:0036.14111391369555
2026-04-08T17:09:30+08:0037.772672529370325
2026-04-08T17:40:48+08:0053.679232849319426
2026-04-08T17:50:50+08:0054.133706001317975
2026-04-08T18:04:45+08:0054.151657690821914
2026-04-08T18:04:53+08:0055.219942281909695
2026-04-08T18:05:27+08:0056.97827618333447
2026-04-08T18:05:47+08:0060.01870157020474
2026-04-08T20:40:46+08:0060.57188629081737
2026-04-08T20:40:51+08:0061.01524757424955
2026-04-08T20:41:08+08:0063.48758152112164
2026-04-08T20:41:13+08:0065.12141250255641
2026-04-08T20:41:33+08:0065.1272070352444
2026-04-09T08:41:35+08:0066.66977980775786
2026-04-09T08:41:39+08:0067.19483264026178
2026-04-09T08:41:43+08:0067.87870111573159
2026-04-09T08:41:46+08:0069.75478901083919
2026-04-09T08:42:10+08:0069.75478901083919
2026-04-09T08:43:47+08:0072.29756629627104
2026-04-09T08:43:54+08:0075.70384257050014
2026-04-09T08:43:58+08:0084.55016247415183
2026-04-09T09:37:14+08:0084.58670211557252
2026-04-09T09:37:40+08:0084.97573113368328
2026-04-09T09:37:48+08:0085.99602335992002
2026-04-09T09:38:05+08:0087.13220623991637
2026-04-09T09:38:35+08:0088.52259867748313
2026-04-09T10:12:24+08:0089.84827413820528
2026-04-09T10:12:47+08:0090.34521780625809
2026-04-09T10:12:58+08:0093.63560342672757
2026-04-09T11:01:18+08:0093.79148771786306
2026-04-09T11:07:40+08:0094.17738087122503
2026-04-09T11:08:21+08:0098.85390960529007
2026-04-09T12:14:00+08:0098.89283523075875
2026-04-09T12:14:57+08:0099.26520780784875
2026-04-09T12:15:16+08:00104.60299497807166
2026-04-09T13:44:37+08:00104.65494125934511
2026-04-09T13:45:04+08:00104.90058399800031
2026-04-09T13:45:52+08:00107.43199945463222
2026-04-09T14:06:27+08:00107.47492444383847
2026-04-09T14:07:14+08:00107.70254732201695
2026-04-09T14:08:09+08:00109.8476605994501
2026-04-09T14:09:37+08:00110.30213375144864
2026-04-09T14:10:43+08:00114.06792101256619
2026-04-09T14:11:21+08:00115.04165246438066
2026-04-09T15:17:03+08:00115.02379166950712
2026-04-09T15:17:20+08:00117.34842184197969
2026-04-09T15:18:07+08:00118.11005067375645
2026-04-09T15:18:40+08:00118.19376462835459
2026-04-09T16:10:34+08:00118.57654464062536
2026-04-09T16:10:57+08:00118.92255777489945
2026-04-09T16:11:08+08:00120.5018519780944
2026-04-09T16:12:23+08:00120.64610175653873
2026-04-09T16:12:53+08:00127.46319903651691
2026-04-09T17:07:25+08:00127.54257277251347
2026-04-09T17:08:40+08:00127.90771922648669
2026-04-09T17:08:50+08:00127.98720658077124
2026-04-09T17:10:02+08:00132.77280887131593
2026-04-09T18:04:55+08:00132.8442293271525
2026-04-09T18:06:03+08:00132.94853091553617
2026-04-09T18:06:24+08:00133.25748176426478
2026-04-09T18:06:34+08:00138.14761287976913
2026-04-09T18:07:11+08:00160.87127047969642
2026-04-09T18:08:30+08:00161.8068716340582
2026-04-09T22:30:40+08:00163.14529506669393
2026-04-09T22:30:44+08:00164.26784375213035
2026-04-09T22:30:48+08:00165.5971777217261
2026-04-09T22:30:52+08:00166.56975026700297
2026-04-09T22:32:30+08:00166.83957097734452
2026-04-09T22:32:35+08:00167.07791942191014
2026-04-09T22:32:39+08:00167.24073442861362
2026-04-09T22:32:43+08:00167.60401754266366
2026-04-09T22:36:18+08:00167.7240893494217
2026-04-09T22:36:22+08:00167.7227941009385
2026-04-09T22:36:26+08:00167.9063558070307
2026-04-09T22:36:30+08:00167.88735882927716
2026-04-09T22:41:03+08:00167.9361692458018
2026-04-10T08:38:06+08:00167.98868361851524
2026-04-10T08:38:14+08:00168.20917126820734
2026-04-10T08:39:17+08:00168.20917126820734
2026-04-10T08:39:41+08:00168.24059808666803
2026-04-10T08:39:51+08:00168.930420160429
2026-04-10T08:40:10+08:00174.98627491080964
2026-04-10T09:07:00+08:00175.01842888631353
2026-04-10T09:07:30+08:00175.01804258413435
2026-04-10T09:07:52+08:00175.0647624241598
2026-04-10T09:08:52+08:00176.95082600495377
2026-04-10T09:10:18+08:00177.42800009089464
2026-04-10T10:05:25+08:00177.48842229645282
2026-04-10T10:05:46+08:00177.57468130070217
2026-04-10T10:05:59+08:00181.77174085940874
2026-04-10T10:07:47+08:00182.46156293316972
2026-04-10T10:08:26+08:00183.3705092371668
2026-04-10T11:11:24+08:00183.38607494262277
2026-04-10T11:12:09+08:00183.5008066898448
2026-04-10T11:12:29+08:00184.46029040834412
2026-04-10T11:12:41+08:00189.95941554752653
2026-04-10T11:36:51+08:00190.1866521235258
2026-04-10T12:09:44+08:00191.3500124980117
2026-04-10T12:10:13+08:00191.39025609562114
2026-04-10T12:10:33+08:00191.74288181425683
2026-04-10T12:10:56+08:00194.60833503760765
2026-04-10T13:40:33+08:00194.6881859704138
2026-04-10T13:40:59+08:00194.751221396596
2026-04-10T13:41:19+08:00195.56754607221578
2026-04-10T13:41:32+08:00198.4057309064467
2026-04-10T14:13:19+08:00198.45133728724974
2026-04-10T14:13:57+08:00198.5301429318063
2026-04-10T14:14:22+08:00199.5333015202127
2026-04-10T14:15:29+08:00203.33724180244053
2026-04-10T14:18:14+08:00205.78564773785988
2026-04-10T15:15:42+08:00206.24805144636082
2026-04-10T15:16:25+08:00209.97473129274888
2026-04-10T15:16:47+08:00210.11961733360602
2026-04-10T15:17:49+08:00210.1912195787034
2026-04-10T16:25:24+08:00211.10016588270048
2026-04-10T16:26:19+08:00212.70970527416094
2026-04-10T16:26:30+08:00216.47956006998888
2026-04-10T16:59:16+08:00221.02429158997433
2026-04-10T17:19:17+08:00224.7259754130025
2026-04-10T17:20:51+08:00226.18299361465222
2026-04-10T17:46:23+08:00271.6303088145068
2026-04-10T18:03:27+08:00273.4107528347763
2026-04-10T18:06:55+08:00274.0298588860863
2026-04-10T18:07:26+08:00276.4453836889586
2026-04-10T22:43:00+08:00276.7476537823528
2026-04-10T22:43:04+08:00277.4115708864499
2026-04-10T22:43:08+08:00277.88879041970597
2026-04-10T22:43:13+08:00279.07298838821094
2026-04-10T22:44:01+08:00281.2976344672438
2026-04-10T22:44:05+08:00284.67436998659304
2026-04-10T22:44:09+08:00287.6170836457836
2026-04-10T22:44:13+08:00290.14395437089553
2026-04-11T10:23:32+08:00303.0009998409344
2026-04-11T10:23:35+08:00305.1733815074874
2026-04-11T10:23:39+08:00306.9185584111619
2026-04-11T10:26:24+08:00308.71065966778013
2026-04-11T10:26:28+08:00310.29758901992864
2026-04-11T10:26:31+08:00310.51964460199514
2026-04-11T10:26:34+08:00310.880155429818
2026-04-11T10:29:26+08:00310.880155429818
2026-04-11T11:27:34+08:00313.2888631354103
2026-04-11T11:29:00+08:00313.4769241257073
2026-04-11T12:34:57+08:00315.8356397845797
2026-04-11T12:36:09+08:00316.26670756925034
2026-04-11T13:05:43+08:00318.6935942009226
2026-04-11T13:06:33+08:00319.6545549571659
2026-04-11T15:08:22+08:00320.6475787942827
2026-04-11T15:08:46+08:00323.058558865635
2026-04-11T15:10:27+08:00323.50601040743516
2026-04-11T15:10:40+08:00324.11277751266846
2026-04-11T18:06:20+08:00325.7170677392233
2026-04-11T18:06:33+08:00327.3327197945781
2026-04-11T18:06:46+08:00329.64598813825074
2026-04-11T18:13:07+08:00330.24464289772084
2026-04-11T18:13:18+08:00330.58702024677893
2026-04-11T18:13:33+08:00330.76924125707274
2026-04-11T22:53:10+08:00333.78012588906313
2026-04-11T22:53:14+08:00335.4684936487377
2026-04-11T22:53:18+08:00336.8137341786534
2026-04-11T22:53:23+08:00338.82023314472696
2026-04-11T22:59:02+08:00339.2013088826778
2026-04-11T22:59:06+08:00339.48899038789284
2026-04-11T22:59:09+08:00339.8827232031268
2026-04-11T22:59:13+08:00340.1307292021724
2026-04-12T10:20:07+08:00343.37975776581
2026-04-12T10:22:37+08:00356.9116958665667
2026-04-12T10:22:52+08:00361.4746063126321
2026-04-12T13:12:55+08:00364.237189538028
2026-04-12T13:14:22+08:00372.39725498216194
2026-04-12T13:14:37+08:00378.25995864294316
2026-04-12T16:24:21+08:00379.73163360374485
2026-04-12T16:25:01+08:00387.96441475219854
2026-04-12T16:25:18+08:00393.13404685618195
2026-04-12T18:19:46+08:00394.85840888949485
2026-04-12T18:20:35+08:00400.20301315699777
2026-04-12T18:20:49+08:00404.95452996114255
2026-04-12T20:09:01+08:00406.9617560842593
2026-04-12T20:09:14+08:00411.8677937600836
2026-04-12T20:09:30+08:00418.8121435226214
2026-04-12T22:11:15+08:00422.1450223828027
2026-04-12T22:12:04+08:00429.84834230917807
2026-04-12T22:12:20+08:00440.0308132797055
2026-04-13T08:43:54+08:00442.10991433181084
2026-04-13T08:44:03+08:00454.0052946122208
2026-04-13T08:44:58+08:00454.0052946122208
2026-04-13T08:45:12+08:00543.295634785375
2026-04-13T09:15:29+08:00547.2141477492218
2026-04-13T09:15:52+08:00590.3981866521235
2026-04-13T09:17:50+08:00595.8518644761061
2026-04-13T09:18:50+08:00609.6080623537165
2026-04-13T10:04:07+08:00615.0658077124094
2026-04-13T10:05:24+08:00700.806712568455
2026-04-13T11:14:23+08:00702.1780853046106
2026-04-13T11:45:45+08:00784.6649623923466
2026-04-13T17:32:04+08:00800.5715227122957
2026-04-13T17:33:19+08:00814.9
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
25,938
→
人均手數
32.0
→
認購倍數
61x
61x = 25,938 × 32.0 ÷ 13,574 孖展加權 100% → 1059.4x
1x2272.0x
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 1102.05x 和當前分配手法 (甲組 α=0.482, 乙組 α=0.582) 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

標誌思格新能中籤預測矩陣

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 思格新能(06656)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