Forget it, I participated in nearly six Hong Kong IPOs on StableStock so far, and haven't gotten a single share, always just a spectator.

Next, let's calculate the costs and profits to see if continuing is worthwhile:
Cost: 60 HKD per IPO application fee, played six times, total expense about 360 HKD, roughly under 45 USD.
Profit (assuming I get allocated shares): look at the current returns of the projects I invested in.
HuaQin - winning price 77.7 HKD, current 91 HKD, highest 99.8 HKD, return rate approximately 16%-27%.
One allocation is about 7,848 HKD, which means floating profit of 1,252-2,132 HKD.
XiZhi - winning price 183.2 HKD, current 814 HKD, highest 996 HKD, return rate approximately 392%-502%.
One allocation is about 2,478 HKD, roughly floating profit of 9,732-12,462 HKD.
MaiWei - winning price 30.7 HKD, current 25.9 HKD, highest 31.4 HKD, this is somewhat junk, basically at a loss if held to the end, about a 1,023 HKD loss if not sold after allocation.
Sungrow - winning price 24.86 HKD, current 80 HKD, highest 99.8 HKD, return rate 221%-301%.
One allocation is about 2,486 HKD, roughly floating profit of 5,514-7,494 HKD.
Tianxing didn't get allocated and hasn't gone public yet, and Kefu hasn't announced allocation info.
Overall, compared to the returns, the application fee is quite low, as long as I don't get junk stocks once, the profit can cover multiple fees.
I'll keep playing and just wait for the lucky moment.
Also, sharing a few tips: one is to use multiple accounts, and another is to apply with only one order each time—more orders reduce the chance of winning!
Finally, I plan to use the HSBC bank card I set up in Hong Kong last year for IPOs, but they require my Hong Kong investor identification code consent form.
Could anyone in the awesome circle of friends with similar experience help me solve this puzzle? Thanks a lot!