2025年第二季收入及其他收益以及溢利均创历年季度新高。主要业务收入按年上升32%，源于现货市场 成交量上升使交易及结算费增加，以及保证金金额增加使投资收益净额增加。公司资金的投资收益净额 为5.28亿元，2024年第二季为3.66亿元，源于內部管理的公司资金的投资收益上升。EBITDA利润率为 80%，较2024年第二季上升6个百分点。 本文源自：财华网 【财华社讯】香港交易所(00388.HK)公布，截至2025年6月30日止三个月，收入及其他收益为72.19亿元 (港元,下同)，按年上升33%；股东应占溢利为44.42亿元，按年上升41%。基本每股盈利3.51元。 ...

Core Insights - Hong Kong Stock Exchange (HKEX) reported strong trading performance in the first half of 2025, achieving multiple historical highs driven by favorable market conditions and increased investor interest in non-USD assets [1] Trading Performance - The average daily trading amount in the securities market reached HKD 240.2 billion, a year-on-year increase of 118% [1] - The average daily trading volume for futures and options exceeded 1.7 million contracts, up 11% year-on-year [1] - The Hong Kong ETF market saw significant growth, with an average daily trading amount of HKD 33.8 billion, a 184% increase compared to the same period last year [1] Northbound and Southbound Trading - The trading volume for the Stock Connect (Northbound and Southbound) reached record highs for the half-year period [1] - The average daily trading amount for the Bond Connect Northbound also increased by 3% year-on-year, setting a new high [1] IPO Market - The Hong Kong IPO market continued its strong growth in 2025, leading globally in fundraising with a total of HKD 109.4 billion raised from 44 new listings, representing a 716% year-on-year increase [1] Metal Market - Despite increased volatility in the metal market due to sanctions and tariffs, the trading volume for LME metal contracts remained robust, with an average daily trading volume up 3% year-on-year [1]

花旗发表研报指，港交所第二季度总收入达72亿港元，按季升5%，按年增长33%，超出市场预期6%， 主要受投资收益表现优于预期，超出市场共识15%推动，来自于港币兑美元贬值带来的外汇一次性收 益。归属股东净利润达44亿港元，按季升9%，按年增长41%，较市场共识高出8%。营运开支为19亿港 元，按季下降2%，按年增长6%，基本符合预期。公司宣布派发中期股息每股6港元，派息比率达89%。 花旗认为，港交所核心业务表现基本符合预期，本次业绩超预期主要受一次性因素驱动，包括1.35亿港 元的外汇收益及季度内7600万港元的租约修改收益；予其"买入"评级，目标价为490港元。 ...

【财华社讯】香港交易所(00388.HK)公布，2025年上半年收入及其他收益和溢利创历来半年度新高。上 半年，股东应占溢利为85.19亿元(港元,下同)，按年上升39%。基本每股盈利6.74元。每股中期股息6港 元。 收入及其他收益为140.76亿元，按年上升33%；其中，主要业务收入按年上升34%，反映现货及股票期 权市场成交量创历来半年度新高，存管费用增加以及保证金规模增加令投资收益净额上升。公司资金的 投资收益净额为10.44亿元，2024年上半年为9.01亿元，源于美元兑港元的非经常性汇兑收益进一步带动 內部管理的公司资金的投资收益净额上升。 EBITDA 利润率为79%，升6个百分点。 由于集团根据支柱二规则范本作出新的补足税拨备，2025年上 半年集团的实际税率增加至15.8%。 本文源自：财华网 ...

香港交易所公布了其2025年上半年的业绩，上半年股东应占溢利为85.19亿港元，同比增长39%。 主要业务收入增长34%，得益于现货及股票期权市场成交量创历史半年度新高，以及投资收益净额的增 长。 集团行政总裁陈翊庭指出，上半年现货市场、衍生产品市场及沪深港通的成交量均创半年新高，新股市 场融资额重回全球榜首。下半年计划推出缩短现货市场结算周期、扩大无纸化上市机制、优化IPO定价 新规和下调证券交易最低上落价位等新措施。 集团上半年收入及其他收益总额为140.76亿港元，同比增长33%。董事会宣布派发每股6.00港元的中期 股息。 ...

Group 1 - The Hong Kong Stock Exchange has received a record number of new stock listing applications in the past six months [1] - In the second half of 2025, the exchange plans to implement several measures to enhance market competitiveness and attractiveness [1] - Proposed measures include shortening the settlement cycle for the cash market, expanding the paperless listing mechanism, optimizing the pricing rules for initial public offerings, and introducing the first phase of lowering the minimum price fluctuation for securities trading [1]

Core Viewpoint - Morgan Stanley's research report indicates that Hong Kong Stock Exchange's average daily trading volume remains high, influenced by capital flows, southbound trading, IPOs, and improvements in the A-share market [1] Group 1: Trading Volume Forecast - Based on the higher average daily trading volume, the company forecasts that the trading volume for fiscal years 2025, 2026, and 2027 will reach HKD 235 billion, HKD 250 billion, and HKD 252 billion respectively [1] - The earnings per share estimate has been raised by 5% to 16% accordingly [1] Group 2: Market Valuation and Rating - The market's visibility regarding the mid-term outlook for Hong Kong Stock Exchange typically leads to a revaluation of the PE multiple [1] - The target price has been increased from HKD 400 to HKD 500, and the rating has been upgraded from "Neutral" to "Overweight" [1]

香港交易所(00388)发布公告，该公司将于2025年9月16日派发中期股息每股6港元。 ...

智通财经APP讯，香港交易所(00388)发布公告，该公司将于2025年9月16日派发中期股息每股6港元。 ...

Group 1: Financial Performance - Hong Kong Exchanges and Clearing Limited reported a revenue and other income of HKD 14.076 billion for the first half of 2025, representing a year-on-year increase of 33% [1] - The profit attributable to shareholders reached HKD 8.519 billion, up 39% year-on-year, with basic earnings per share at HKD 6.74 [1] - In Q2 2025, revenue and other income amounted to HKD 7.219 billion, a 33% increase compared to Q2 2024, while profit attributable to shareholders rose 41% to HKD 4.442 billion [1][3] Group 2: Market Activity - The average daily turnover in the cash market reached HKD 240.2 billion in the first half of 2025, more than double that of the first half of 2024 [2] - The average daily contract volume in the derivatives market increased by 11% year-on-year to 1.7 million contracts [2] - The fundraising amount in the Hong Kong IPO market surged to over eight times that of the first half of 2024, reclaiming the top position globally [2] Group 3: Operational Insights - Operating expenses increased by 6% compared to the first half of 2024, primarily due to non-recurring fines and legal fees related to the 2022 nickel market incident [3] - In Q2 2025, the average daily turnover in the cash market continued its strong momentum, achieving a record of HKD 237.7 billion [3] - The company plans to implement several strategic initiatives in the second half of 2025 to enhance market competitiveness, including shortening the settlement cycle and expanding paperless listing mechanisms [4]