孖展動態 孖展倍數27.16x 孖展資金170.5億 捷利預測倍數39.39x
排名 券商 孖展資金
1 富途证券富途 61.6億
2 辉立证券辉立 49.1億
3 老虎国际老虎 17.3億
4 华泰国际华泰 10.5億
5 盈立证券盈立 8.2億
7 复星国际复星 5.9億
8 信诚证券信诚 5.0億
9 致富证券致富 3.4億
10 熊猫证券熊猫 2.7億
11 长桥证券长桥 2.4億
12 华盛证券华盛 2.3億
13 东证国际东证 8961萬
14 艾德证券艾德 5435萬
15 兴证国际兴证 2463萬
16 TradeGo MarketsTradeGo 1860萬
17 盈宝证券盈宝 1791萬
孖展倍數
時間倍數
2026-08-31T06:00:00+08:000
2026-08-31T10:08:01+08:000.10646436312635471
2026-08-31T10:08:07+08:000.267770623485911
2026-08-31T10:08:13+08:000.29150197628458496
2026-08-31T10:08:22+08:000.30265842152237665
2026-08-31T10:08:30+08:000.34
2026-08-31T10:32:35+08:000.7954386076756343
2026-08-31T11:26:04+08:000.8309798546474564
2026-08-31T11:26:21+08:000.8451644778783629
2026-08-31T11:26:39+08:000.8708880530409282
2026-08-31T11:26:49+08:001.3254335075863828
2026-08-31T11:26:58+08:001.3917346678566875
2026-08-31T11:27:21+08:001.3963247481830932
2026-08-31T11:27:40+08:001.4170757363253856
2026-08-31T11:27:56+08:001.57
2026-08-31T12:21:16+08:001.6117557057248502
2026-08-31T12:21:26+08:001.659569042458243
2026-08-31T12:21:47+08:001.6987281652428918
2026-08-31T12:22:07+08:001.6992062986102257
2026-08-31T12:22:34+08:001.70166071656254
2026-08-31T12:22:50+08:001.761809894173148
2026-08-31T12:23:45+08:001.7687268902205788
2026-08-31T12:24:14+08:002.06
2026-08-31T13:41:43+08:002.0651695779676142
2026-08-31T13:42:11+08:002.066827106974372
2026-08-31T13:42:42+08:002.082191125844702
2026-08-31T13:43:03+08:002.098798291470101
2026-08-31T13:43:27+08:002.2820827489481066
2026-08-31T13:43:43+08:002.32
2026-08-31T14:04:31+08:002.373374346551065
2026-08-31T14:04:47+08:002.3829688894555656
2026-08-31T14:05:07+08:002.38303264057121
2026-08-31T14:05:17+08:002.5048291470100725
2026-08-31T14:05:43+08:002.523508223893918
2026-08-31T14:05:59+08:002.524416677291853
2026-08-31T14:06:12+08:002.6519189085809
2026-08-31T14:07:04+08:002.73
2026-08-31T15:13:25+08:002.776887033023078
2026-08-31T15:13:41+08:002.788935993879893
2026-08-31T15:13:57+08:002.8121413999744997
2026-08-31T15:14:15+08:002.8128426622465894
2026-08-31T15:14:30+08:002.8854233074078794
2026-08-31T15:14:42+08:002.9233233456585492
2026-08-31T15:15:04+08:003.0380753538186918
2026-08-31T15:16:17+08:003.05
2026-08-31T16:54:40+08:003.0897296952696673
2026-08-31T16:54:58+08:003.1065599897998215
2026-08-31T16:55:13+08:003.120250541884483
2026-08-31T16:55:23+08:003.2073505036338137
2026-08-31T16:55:44+08:003.2129287262527093
2026-08-31T16:56:18+08:003.6161545327043223
2026-08-31T16:56:41+08:003.642515619023333
2026-08-31T17:00:14+08:003.677833737090399
2026-08-31T17:00:48+08:003.709709294912661
2026-08-31T17:01:40+08:003.73576756343236
2026-08-31T17:07:43+08:003.818404947086574
2026-08-31T17:08:04+08:003.8667920438607677
2026-08-31T17:08:29+08:003.8812954226698966
2026-08-31T17:08:47+08:003.8907624633431084
2026-08-31T17:09:01+08:004.0740469208211145
2026-08-31T17:09:13+08:004.13
2026-08-31T17:47:48+08:005.41
2026-08-31T18:09:23+08:005.395846614815759
2026-08-31T18:10:06+08:005.42700497258702
2026-08-31T18:10:10+08:005.566444600280505
2026-08-31T18:10:23+08:005.590717837562157
2026-08-31T18:10:51+08:005.617015172765523
2026-08-31T18:11:08+08:005.619517404054571
2026-08-31T18:11:22+08:005.648492286115007
2026-08-31T18:11:48+08:005.723399846997323
2026-08-31T18:12:52+08:006.305033150580135
2026-08-31T21:04:09+08:006.3071688129542265
2026-08-31T21:05:05+08:006.313751115644524
2026-08-31T21:05:51+08:006.372752773173531
2026-08-31T21:06:32+08:006.381916996047431
2026-08-31T21:07:00+08:006.3913362233839095
2026-08-31T21:07:33+08:006.534776233584088
2026-08-31T21:07:49+08:006.576214458753028
2026-08-31T21:08:00+08:006.498119342088486
2026-08-31T22:04:31+08:006.5111245696799696
2026-08-31T22:04:52+08:006.515300267754686
2026-08-31T22:05:08+08:006.525181690679587
2026-08-31T22:05:27+08:006.606464363126355
2026-09-01T08:36:53+08:006.632793573887543
2026-09-01T08:37:02+08:006.84470228228994
2026-09-01T08:38:22+08:006.846630753538187
2026-09-01T08:38:32+08:006.8761315823026905
2026-09-01T08:38:49+08:006.8761315823026905
2026-09-01T08:39:03+08:007.53
2026-09-01T09:03:37+08:007.525468570699987
2026-09-01T09:04:01+08:007.579959836797144
2026-09-01T09:04:13+08:007.580055463470611
2026-09-01T09:04:23+08:007.595945429045008
2026-09-01T09:04:47+08:007.642818436822645
2026-09-01T09:05:03+08:007.665752900675762
2026-09-01T09:05:18+08:007.7597857962514345
2026-09-01T09:06:47+08:007.93
2026-09-01T10:11:20+08:008.17066173658039
2026-09-01T10:11:39+08:008.270735050363381
2026-09-01T10:11:54+08:008.280090526584216
2026-09-01T10:12:10+08:008.303742190488334
2026-09-01T10:12:24+08:008.485432870075226
2026-09-01T10:12:52+08:008.493529261762081
2026-09-01T10:13:33+08:008.6
2026-09-01T10:18:55+08:008.5257713884993
2026-09-01T10:45:29+08:008.543207318628076
2026-09-01T11:17:25+08:008.57694759658294
2026-09-01T11:17:35+08:008.615740150452632
2026-09-01T11:17:56+08:008.6164095371669
2026-09-01T11:18:19+08:008.644380339155935
2026-09-01T11:18:35+08:008.677546857069999
2026-09-01T11:19:09+08:008.703796378936632
2026-09-01T11:19:32+08:009.019364401377024
2026-09-01T11:19:40+08:009.1
2026-09-01T12:11:50+08:009.047287390029325
2026-09-01T12:12:10+08:009.05410875940329
2026-09-01T12:12:21+08:009.097411704704832
2026-09-01T12:12:42+08:009.114369501466276
2026-09-01T12:12:57+08:009.117222363891369
2026-09-01T12:13:27+08:009.132395129414764
2026-09-01T12:13:59+08:009.45
2026-09-01T13:43:19+08:009.296602065536147
2026-09-01T13:43:41+08:009.311695142164988
2026-09-01T13:43:53+08:009.311742955501721
2026-09-01T13:44:09+08:009.331840494708658
2026-09-01T13:44:32+08:009.437029835522122
2026-09-01T13:44:49+08:009.44123740915466
2026-09-01T13:45:14+08:009.63
2026-09-01T14:02:48+08:009.477193038378172
2026-09-01T14:03:13+08:009.553503123804667
2026-09-01T14:03:40+08:009.56623740915466
2026-09-01T14:04:03+08:009.577999489991075
2026-09-01T14:04:17+08:009.590446895320667
2026-09-01T14:04:36+08:009.590526584215224
2026-09-01T14:05:28+08:009.697963151855157
2026-09-01T14:06:31+08:0010.04
2026-09-01T15:15:51+08:009.88939181435675
2026-09-01T15:16:07+08:009.897918526074207
2026-09-01T15:16:22+08:009.906588677801862
2026-09-01T15:16:34+08:009.900723575162566
2026-09-01T15:16:57+08:009.909680606910621
2026-09-01T15:17:12+08:009.938352671171746
2026-09-01T15:17:37+08:0010.23
2026-09-01T15:51:00+08:0010.05524034170598
2026-09-01T16:03:00+08:0010.062348591100344
2026-09-01T16:03:19+08:0010.089793446385311
2026-09-01T16:03:39+08:0010.12018679076884
2026-09-01T16:04:00+08:0010.149321050618386
2026-09-01T16:04:14+08:0010.15697118449573
2026-09-01T16:04:30+08:0010.174152110161927
2026-09-01T16:08:35+08:0010.57
2026-09-01T17:05:20+08:0010.420247354328701
2026-09-01T17:05:34+08:0010.434941986484764
2026-09-01T17:05:46+08:0010.502422542394491
2026-09-01T17:06:09+08:0010.531811806706617
2026-09-01T17:06:19+08:0010.543860767563432
2026-09-01T17:06:40+08:0010.560404182073187
2026-09-01T17:06:51+08:0010.56075481320923
2026-09-01T17:07:05+08:0010.752008160142802
2026-09-01T17:07:48+08:0011.44
2026-09-01T17:37:19+08:0010.743736452887925
2026-09-01T17:37:37+08:0011.540625398444472
2026-09-01T17:38:47+08:0011.79
2026-09-01T18:08:26+08:0011.582238939181435
2026-09-01T18:08:59+08:0011.581649241361724
2026-09-01T18:09:03+08:0011.616744230524034
2026-09-01T18:09:18+08:0011.624075608823155
2026-09-01T18:09:27+08:0011.632634196098431
2026-09-01T18:09:41+08:0011.655218028815504
2026-09-01T18:09:50+08:0011.749250924391177
2026-09-01T18:10:54+08:0012.09
2026-09-01T19:56:38+08:0011.870043350758639
2026-09-01T19:56:58+08:0011.872434017595308
2026-09-01T19:57:03+08:0011.907513068978707
2026-09-01T19:57:46+08:0011.90612648221344
2026-09-01T19:57:57+08:0011.90614241999235
2026-09-01T19:58:08+08:0012.09
2026-09-01T20:22:22+08:0012.072963151855157
2026-09-01T20:22:29+08:0012.097363891368099
2026-09-01T20:23:00+08:0012.099053295932679
2026-09-01T20:23:10+08:0012.100089251561903
2026-09-01T20:23:24+08:0012.43
2026-09-01T21:32:41+08:0012.198106591865358
2026-09-01T21:32:45+08:0012.210633686089507
2026-09-01T21:33:13+08:0012.22110480683412
2026-09-01T21:33:29+08:0012.258781716180033
2026-09-01T21:33:38+08:0012.52972395766926
2026-09-01T22:07:07+08:0012.64500191253347
2026-09-01T22:07:26+08:0012.650643886268009
2026-09-01T22:07:41+08:0012.663824429427516
2026-09-01T22:07:50+08:0013.09
2026-09-02T08:37:13+08:0012.849164860385057
2026-09-02T08:39:09+08:0012.915179140634962
2026-09-02T08:39:37+08:0012.934049470865741
2026-09-02T08:39:47+08:0013.069440902715797
2026-09-02T08:40:21+08:0013.069440902715797
2026-09-02T08:40:42+08:0013.74042139487441
2026-09-02T09:21:00+08:0013.854774958561775
2026-09-02T09:21:31+08:0013.848957669259212
2026-09-02T09:21:55+08:0013.87767754685707
2026-09-02T09:22:12+08:0013.982723447660334
2026-09-02T09:23:07+08:0014.186647328828254
2026-09-02T09:24:43+08:0014.49265268392197
2026-09-02T09:25:08+08:0014.44
2026-09-02T10:12:16+08:0014.668557949764121
2026-09-02T10:12:35+08:0014.669721407624634
2026-09-02T10:12:49+08:0014.689563942368991
2026-09-02T10:13:06+08:0014.727145225041438
2026-09-02T10:13:24+08:0014.748772791023843
2026-09-02T10:14:10+08:0014.98
2026-09-02T11:50:25+08:0015.193962769348463
2026-09-02T11:51:00+08:0015.209486166007904
2026-09-02T11:51:21+08:0015.214235624123422
2026-09-02T11:51:44+08:0015.21842725997705
2026-09-02T11:52:06+08:0015.22617302052786
2026-09-02T11:52:12+08:0015.536959709294912
2026-09-02T11:52:47+08:0015.41
2026-09-02T12:09:28+08:0015.589219686344512
2026-09-02T12:10:52+08:0015.591674104296825
2026-09-02T12:11:21+08:0015.629749458115517
2026-09-02T12:11:44+08:0015.641033405584597
2026-09-02T12:11:55+08:0015.728691189595818
2026-09-02T12:12:14+08:0015.78
2026-09-02T13:43:14+08:0015.761363636363637
2026-09-02T13:43:43+08:0015.971343873517787
2026-09-02T13:44:04+08:0015.974531429300013
2026-09-02T13:44:16+08:0015.987058523524162
2026-09-02T13:44:32+08:0015.990389519316588
2026-09-02T13:44:41+08:0016.23
2026-09-02T14:13:45+08:0016.02111755705725
2026-09-02T14:14:00+08:0016.02153193930894
2026-09-02T14:14:12+08:0016.03311870457733
2026-09-02T14:14:19+08:0016.17177738110417
2026-09-02T14:14:39+08:0016.170342981002168
2026-09-02T14:15:23+08:0016.37
2026-09-02T15:46:22+08:0016.280393344383526
2026-09-02T15:46:45+08:0016.31821369373964
2026-09-02T15:46:54+08:0016.3208753028178
2026-09-02T15:47:00+08:0016.36782799948999
2026-09-02T15:47:15+08:0016.377725360193804
2026-09-02T15:47:21+08:0016.54
2026-09-02T16:12:27+08:0016.544530154277698
2026-09-02T16:12:30+08:0016.547175825576947
2026-09-02T16:12:33+08:0016.780807726635217
2026-09-02T16:12:36+08:0016.823250031875556
2026-09-02T16:12:40+08:0016.826150707637385
2026-09-02T16:12:43+08:0016.74
2026-09-02T16:33:34+08:0017.07
2026-09-02T17:04:50+08:0017.058156955246716
2026-09-02T17:04:53+08:0017.068389009307662
2026-09-02T17:05:01+08:0017.139057120999617
2026-09-02T17:05:03+08:0017.142117174550556
2026-09-02T17:05:07+08:0017.14387033023078
2026-09-02T17:05:14+08:0020.17204832334566
2026-09-02T17:05:21+08:0020.34
2026-09-02T18:07:48+08:0020.39235624123422
2026-09-02T18:08:17+08:0020.398874792808876
2026-09-02T18:08:23+08:0020.444281524926687
2026-09-02T18:08:38+08:0020.460219303837818
2026-09-02T18:08:43+08:0020.46056993497386
2026-09-02T18:08:48+08:0020.62951039143185
2026-09-02T18:09:36+08:0020.89
2026-09-02T19:48:31+08:0020.94799502741298
2026-09-02T19:48:46+08:0020.947660334055847
2026-09-02T19:48:51+08:0020.961191508351398
2026-09-02T19:49:07+08:0020.963040290705088
2026-09-02T19:49:17+08:0020.966785668749203
2026-09-02T19:49:22+08:0021.135726125207192
2026-09-02T20:03:49+08:0021.133431085043988
2026-09-02T20:03:53+08:0021.155122402142037
2026-09-02T20:04:08+08:0021.156859620043353
2026-09-02T20:04:17+08:0021.158325895703175
2026-09-02T20:18:58+08:0021.02
2026-09-02T21:32:45+08:0021.026998597475455
2026-09-02T21:32:50+08:0020.981049980874666
2026-09-02T21:33:04+08:0021.002279102384293
2026-09-02T21:33:14+08:0021.002358791278848
2026-09-02T21:33:19+08:0021.203174805559097
2026-09-02T22:06:47+08:0021.18698202218539
2026-09-02T22:07:01+08:0021.218315695524673
2026-09-02T22:07:13+08:0021.214012495218665
2026-09-02T22:07:18+08:0021.4
2026-09-03T08:37:56+08:0021.4819584342726
2026-09-03T08:38:04+08:0021.854902460793063
2026-09-03T08:38:39+08:0021.854743083003953
2026-09-03T08:38:54+08:0021.883223893918142
2026-09-03T08:40:00+08:0021.883223893918142
2026-09-03T08:40:10+08:0023.011618640826214
2026-09-03T09:04:14+08:0023.043047940838964
2026-09-03T09:04:35+08:0023.06198202218539
2026-09-03T09:05:31+08:0023.16589634068596
2026-09-03T09:05:33+08:0023.16978515874028
2026-09-03T09:05:36+08:0023.67023141654979
2026-09-03T09:11:15+08:0023.79
2026-09-03T10:05:26+08:0023.924359301287772
2026-09-03T10:06:52+08:0024.42
2026-09-03T11:05:18+08:0024.43910174678057
2026-09-03T11:05:34+08:0024.44
2026-09-03T12:00:55+08:0027.16
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
15,729
→
人均手數
27.8
→
認購倍數
8x
8x = 15,729 × 27.8 ÷ 52,156 A+H二次上市 · 參與×0.44 H股折價 38.3% 孖展加權 100% → 39.4x
1x1624.0x
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
0.60
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
0.70
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 40.32x 和當前分配手法 (甲組 α=0.604, 乙組 α=0.704) 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

標誌江波龍中籤預測矩陣

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 江波龍(09976)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