孖展動態 孖展倍數219.58x 孖展資金103.9億 捷利預測倍數294.24x
排名 券商 孖展資金
1 富途证券富途 72.2億
2 老虎国际老虎 12.1億
3 辉立证券辉立 6.0億
4 华泰国际华泰 4.4億
5 盈立证券盈立 3.1億
6 复星国际复星 1.8億
7 致富证券致富 1.7億
8 华盛证券华盛 1.0億
9 熊猫证券熊猫 7036萬
孖展倍數
時間倍數
2026-06-22T06:00:00+08:000
2026-06-22T10:17:38+08:000.0061284868977176665
2026-06-22T10:17:45+08:000.011411665257819104
2026-06-22T10:17:51+08:000.012468300929839391
2026-06-22T10:17:57+08:000.5196534234995773
2026-06-22T11:14:42+08:000.5946745562130178
2026-06-22T11:17:54+08:000.6187658495350803
2026-06-22T11:20:05+08:000.621513102282333
2026-06-22T11:23:29+08:000.5158495350803043
2026-06-22T12:10:38+08:000.5160608622147084
2026-06-22T12:12:31+08:000.6297548605240912
2026-06-22T12:15:25+08:000.6299661876584953
2026-06-22T12:16:49+08:000.7778951817413355
2026-06-22T12:21:51+08:000.7789518174133558
2026-06-22T14:14:03+08:000.8846153846153846
2026-06-22T14:18:10+08:000.8928571428571429
2026-06-22T14:18:14+08:000.8945477599323753
2026-06-22T14:22:06+08:000.900887573964497
2026-06-22T14:23:47+08:000.9642857142857143
2026-06-22T14:23:50+08:001.0276838546069316
2026-06-22T14:27:02+08:001.0297971259509722
2026-06-22T14:27:05+08:001.0300084530853761
2026-06-22T14:30:04+08:001.0407861369399831
2026-06-22T14:40:16+08:001.0464919695688926
2026-06-22T15:12:54+08:001.0486052409129332
2026-06-22T15:14:37+08:001.0494505494505495
2026-06-22T15:15:59+08:001.0931952662721893
2026-06-22T16:04:15+08:001.099323753169907
2026-06-22T16:08:52+08:001.1187658495350803
2026-06-22T16:10:08+08:001.1193998309382924
2026-06-22T16:12:44+08:001.1204564666103127
2026-06-22T16:16:05+08:001.775570583262891
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2026-06-22T17:05:10+08:001.790363482671175
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2026-06-22T17:08:02+08:001.937235841081995
2026-06-22T17:10:00+08:002.106297548605241
2026-06-22T17:11:47+08:002.106931530008453
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2026-06-22T18:10:11+08:002.1263736263736264
2026-06-22T18:11:42+08:002.1316568047337277
2026-06-22T18:13:05+08:002.1369399830938294
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2026-06-22T20:22:43+08:003.999577345731192
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2026-06-22T20:28:15+08:004.0065511411665256
2026-06-22T20:30:49+08:004.010143702451395
2026-06-22T20:31:50+08:004.0135249366018595
2026-06-22T20:35:13+08:004.562975486052409
2026-06-22T22:06:35+08:004.562130177514793
2026-06-22T22:07:59+08:004.563398140321217
2026-06-22T22:10:07+08:004.750845308537616
2026-06-23T08:37:30+08:004.793110735418428
2026-06-23T08:40:02+08:004.79374471682164
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2026-06-23T08:42:55+08:004.7967032967032965
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2026-06-23T09:19:06+08:004.873837700760777
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2026-06-23T11:02:32+08:005.1058748943364325
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2026-06-24T15:14:28+08:008.406382079459002
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2026-06-24T16:19:10+08:008.578825021132714
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2026-06-24T21:41:42+08:0079.30874894336432
2026-06-24T22:04:24+08:0080.04522400676247
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2026-06-24T22:06:45+08:00100.14391377852917
2026-06-25T08:41:29+08:00102.5101437024514
2026-06-25T08:42:02+08:00108.60101437024514
2026-06-25T08:43:47+08:00108.98753169907016
2026-06-25T08:44:04+08:00109.40321217244295
2026-06-25T08:44:38+08:00159.72020287404902
2026-06-25T08:48:57+08:00159.72020287404902
2026-06-25T09:04:14+08:00160.7768385460693
2026-06-25T09:05:31+08:00162.33114961961115
2026-06-25T09:06:12+08:00162.35249366018596
2026-06-25T09:06:34+08:00163.96513102282333
2026-06-25T09:06:57+08:00180.406382079459
2026-06-25T09:07:44+08:00183.0090870667794
2026-06-25T09:07:59+08:00185.8286136939983
2026-06-25T09:10:17+08:00192.13672865595942
2026-06-25T10:07:43+08:00192.4114539306847
2026-06-25T10:08:14+08:00195.69103972950126
2026-06-25T10:09:13+08:00217.22527472527472
2026-06-25T11:06:18+08:00219.58
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
17,148
→
人均手數
63.2
→
認購倍數
149x
149x = 17,148 × 63.2 ÷ 7,247 孖展加權 100% → 294.2x
1x24640.0x
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
0.50
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
0.60
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 476.56x 和當前分配手法 (甲組 α=0.503, 乙組 α=0.603) 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

標誌江西生物中籤預測矩陣

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 江西生物(06915)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