NANHUA FUTURES
02691A+HListed金融服務 · 南华期货是一家综合性全球金融服务平台，提供期货经纪、风险管理、财富管理及海外金融服务。
Cautious
42.7
/100
- Offer price
- HK$12.00
- Final offer price
- HK$12.00
- Lot / entry fee
- 500 shares · HK$6K
- Proceeds
- HK$1.29B
- Sponsor
- CITIC Securities
- Est. margin oversub.
- 1.3x
- Public oversub.
- 1.9x
- One-lot win rate
- 74.6%
- First-day return
- -24.2%
Offer starts
Dec 12
Offer closes
Dec 17
Grey market
Dec 19
Listing
Dec 22
AI reference scoring and scenarios
After grey market
After grey market L1 heat score
42.7/ 100
Data coverage High
Target
Historical calibration
Listing-day trend
High cautionPartial basis
Up probability
40.0%
First-day reference range
-11.3% – +3.9%
Published outcome check
First-day resultBig down-24.2%
Our call: Trend call valid
Covered 15/25 core factors
UsedMissingNot yet scorableN/A
Margin oversubscription
Weak heatOffer size
Weaker qualityCornerstone lockup
—Post-lockup offer value
—Recent same-rule trend
Poor trendRecent same-type trend
Poor trendRecent sector trend
—Valuation
Weak appealFundamental quality
—Growth quality
—Profitability
Weaker qualityCash runway
—Customer concentration
—Cornerstone quality
—Sponsor record
Strong recordGreenshoe arrangementGreenshoe: yes · 15%
Average supportStabilizer track recordCLSA
Strong recordA-share pre-grey trend
Positive trendA-share listing-day trend
Positive trendPublic oversubscription
Weak heatOne-lot win rate
Weak heatInternational placing
Low heatFinal pricing position
—Actual greenshoe use
—Grey market return
Poor trendThe assessment and probability ranges are informational only and are not investment advice.
AI Research Report
After grey marketThe analysis report for this IPO is being generated.