Core Insights - The Hong Kong Stock Exchange reported a total revenue and other income of HKD 14.08 billion for the first half of the year, with a net profit of HKD 8.52 billion [1] - In the second quarter, the revenue and other income reached HKD 7.22 billion, surpassing the estimated HKD 6.9 billion [1] - The second quarter EBITDA was HKD 5.69 billion, exceeding the forecast of HKD 5.32 billion [1]

免責聲明 EF001 | 根據《香港聯合交易所有限公司證券上市規則》第三十八章，證券及期貨事務監察委員會監管香港交易及結算所有限公司有關其股份在香港聯合交 | | | --- | --- | | 易所有限公司上市的事宜。證券及期貨事務監察委員會對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 香港交易及結算所有限公司 | | 股份代號 | 00388 | | 多櫃檯股份代號及貨幣 | 80388 RMB | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至2025年12月31日止年度的中期股息及暫停辦理股份過戶登記手續 | | | 公告日期 | 2025年8月20日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 股 6 HKD | ...

根據《香港聯合交易所有限公司證券上市規則》第三十八章，證券及期貨事務監察委員會監管香港交易及結算所有限公司 有關其股份在香港聯合交易所有限公司上市的事宜。證券及期貨事務監察委員會對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失 承擔任何責任。 （於香港註冊成立的有限公司） 股份代號：388（港幣櫃台）及 80388（人民幣櫃台） （除另有註明外，於本公告中的財務數字均以港元為單位） 2025 年中期業績、 中期股息及暫停辦理股份過戶登記手續 1 戰略及財務摘要 集團行政總裁陳翊庭表示： 香港交易所今年開局良好，上半年收入及溢利均創下集團半年度歷史新高。現貨市場、衍生產品市場及滬深港通的成 交量均創半年新高，新股市場融資額重回全球交易所榜首。我們於 2025 年上半年繼續落實多項戰略舉措，包括豐富 旗下產品生態圈，優化我們的上市制度，開拓商品業務新方向，以及在香港固定收益和貨幣產品生態圈的發展上迎來 新的里程碑。過去六個月收到的新股上市申請創歷史新高，在 2025 年下半年，我們將積極推進多項進一步提升市場 競爭力和 ...

Financial Performance Highlights - HKEX achieved record half-yearly revenue and other income of HK$14.1 billion, a 33% year-over-year increase[9] - Profit attributable to shareholders reached HK$8.5 billion in 1H 2025, up 39% year-over-year[11] - Core business revenue increased by 34% year-over-year to HK$13.0 billion in 1H 2025[16] - EBITDA increased by 43% year-over-year to HK$10.9 billion in 1H 2025[16] - Headline Average Daily Turnover (ADT) increased by 118% year-over-year[12] Business Segment Performance - Stock Connect revenue reached a record high of HK$1.813 billion, a 51% year-over-year increase[38] - Northbound Stock Connect ADT increased by 32% year-over-year[12] - Southbound Stock Connect ADT nearly tripled compared to 1H 2024[12] - Derivatives Average Daily Volume (ADV) reached a record half-yearly high of 1.7 million contracts, up 11% year-over-year[12] - LME ADV increased by 3% year-over-year[12] Strategic Initiatives and Market Dynamics - IPO funds raised reached HK$109.4 billion, more than 8 times that of 1H24[38]

联合创始人共同敲锣 2024年7月10日，上海声通信息科技股份有限公司（以下简称"声通科技"）成功登陆港交所主板（股票代码：2495.HK），成为在港交所挂牌的"交互式AI第 一股"。上市仪式在香港交易所隆重举行，声通科技的重要股东、业务合作伙伴、保荐人团队及其他IPO辅导机构共同见证了这一辉煌时刻。 声通科技董事长汤敬华先生，声通科技执行董事孙琪先生，声通融智总裁石业嵘先生登台合照 声通科技董事长汤敬华先生与声通科技执行董事孙琪先生作为公司代表，在开市时刻敲锣 伴随着开市时刻的倒数声(a4309.HK/212)，声通科技董事长汤敬华先生与执行董事孙琪先生共同举起鼓槌，这一刻，所有人的目光都聚焦在这两位创始人身 上。倒计时结束，他们挥动鼓槌，敲响了上市的钟声，那清脆而响亮的声音，如同胜利的号角，回荡在每一个人的心中。这是声通科技的辉煌时刻，是他们 多年努力和奋斗的结晶。这钟声不仅宣告了声通科技的成功上市，更预示着公司未来无限的可能和辉煌的前景。 董事长汤敬华先生上台致辞 声通科技(a7155.HK/603)创始人汤敬华先生在上市仪式上发表激动人心的讲话，他首先对所有支持声通科技的人们表示衷心的感谢。汤敬华先生 ...

Core Viewpoint - The Hong Kong stock market showed significant growth in July, with high trading activity expected to continue, leading to anticipated performance growth for the Hong Kong Stock Exchange (HKEX) [1][2]. Market Performance - The Hong Kong stock market experienced an overall increase, with the Hang Seng Index and Hang Seng Tech Index rising by 23.5% and 22.0% respectively compared to the end of 2024 [1]. - The monthly average daily turnover (ADT) for HKEX reached HKD 262.9 billion, reflecting a month-on-month increase of 14.2% and a year-on-year increase of 166.6% [1]. - Northbound trading ADT was HKD 222.3 billion, with month-on-month and year-on-year increases of 36.5% and 86.0% respectively, while southbound trading ADT was HKD 144.4 billion, increasing by 19.5% month-on-month and 329.0% year-on-year [1]. Derivatives Market - The derivatives market saw a recovery in options trading, with average daily volume (ADV) for futures at 572,000 contracts, showing a slight decrease of 0.1% month-on-month and 3.7% year-on-year [1]. - Options ADV was 942,000 contracts, with month-on-month and year-on-year increases of 14.8% and 30.6% respectively [1]. IPO Market - The IPO market in Hong Kong saw significant growth, with 9 new stocks listed in July, totaling HKD 19.9 billion, which is a decrease of 34% month-on-month but an increase of 333% year-on-year [2]. - New derivative warrants and bull/bear certificates listed were 850 and 2,271 respectively, with year-on-year increases of 42% and 31%, and month-on-month increases of 11% and 14% [2]. Investment Income - Investment income rates for HKEX showed a decline compared to previous months, with the 6-month HIBOR at 2.27%, down by 0.11 percentage points month-on-month [2]. Macroeconomic Environment - Domestic economic conditions showed a decline in manufacturing activity, with the PMI at 49.30%, indicating contraction [3]. - The overseas environment is characterized by tightening liquidity due to the Federal Reserve's decision to pause interest rate cuts, with expectations of a 25 basis point cut in September 2025 [3]. Valuation and Outlook - As of the end of July, the company's PE ratio was 38.24x, positioned at the 58th percentile historically since 2016, indicating potential value for investors [4]. - Revenue and other income projections for 2025-2027 are HKD 28.4 billion, HKD 31.1 billion, and HKD 33.7 billion respectively, with net profit estimates of HKD 17.7 billion, HKD 18.7 billion, and HKD 20.6 billion, corresponding to PE ratios of 30.9, 29.2, and 26.4 times [4].

Core Viewpoint - Hunan Junxin Environmental Protection Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange [1] Group 1 - The company is identified by its stock code 301109 [1]

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company's PE ratio as of the end of July is 38.24x, which is at the 58th percentile historically since 2016, indicating a certain level of value for allocation. It is expected that with the continuous enhancement of the mutual access policy in the Hong Kong capital market, liquidity in the Hong Kong stock market will continue to rise, leading to an increase in overall market activity and valuation. The company is projected to achieve revenues and other income of 28.4 billion, 31.1 billion, and 33.7 billion HKD for 2025-2027, with net profits attributable to shareholders of 17.7 billion, 18.7 billion, and 20.6 billion HKD, corresponding to PE valuations of 30.9, 29.2, and 26.4 times respectively [2][52] Summary by Sections Market Performance - In July, the Hong Kong stock market continued its upward trend, supported by domestic policy drivers. The Hang Seng Index and Hang Seng Tech Index increased by 23.5% and 22.0% respectively compared to the end of 2024. The monthly average daily trading (ADT) for the Hong Kong Stock Exchange was 262.9 billion HKD, reflecting a month-on-month increase of 14.2% and a year-on-year increase of 166.6% [7][10][15] Derivatives Market - In July, the average daily volume (ADV) for futures was 572,000 contracts, showing a slight decrease of 0.1% month-on-month and 3.7% year-on-year. Conversely, the ADV for options increased by 14.8% month-on-month and 30.6% year-on-year, reaching 942,000 contracts. The ADT for structured products was 15.7 billion HKD, with a month-on-month decrease of 2.4% but a year-on-year increase of 48.0% [19][25] Primary Market - The IPO scale in the Hong Kong stock market saw a significant year-on-year increase of 333% in July, with 9 new listings totaling 19.9 billion HKD. However, this represented a month-on-month decrease of 34%. The cumulative number of new listings from January to July was 52, with a total scale of 128.7 billion HKD, reflecting a year-on-year increase of 610% [30][31] Investment Income - As of the end of July, the HIBOR rates for 6 months, 1 month, and overnight were 2.27%, 1.03%, and 0.19% respectively, showing a mixed trend with some rates declining year-on-year. The U.S. overnight bank funding rate remained stable at 4.33% [41][52] Macroeconomic Environment - The domestic economic sentiment has declined, with the manufacturing PMI for July at 49.30%, indicating a contraction. The overseas liquidity is tightening due to the Federal Reserve's pause on interest rate cuts, with expectations of a 25 basis point cut in September 2025 [44][46]

【财华社讯】8月12日，香港联交所首次因一家上市公司的两名前任董事均未有配合香港证监会与联交 所的调查，而对其采取纪律行动。在其纪律行动中，联交所公开谴责万马控股有限公司(万马控股)的前 执行董事马小秋及前独立非执行董事金来林。联交所表明，马及金均不适合担任万马控股或其任何附属 公司的董事或高级管理阶层职务。证监会与联交所均就有关万马控股的事宜展开调查。 证监会就万马控股及/或与其有关连的人士可能违反《证券及期货条例》展开调查。证监会根据《证券 及期货条例》第183条向马及金发出通知，要求提供与其调查相关的资料及文件，但马与金均没有回 覆。因此，证监会将事宜转介予联交所，以根据《上市规则》采取适当行动。 香港联交所上市科亦正调查马及金是否已履行其于《上市规则》下的职责及责任，而二人均没有对调查 作出回覆。 本文源自财华网 根据《上市规则》，上市发行人的每名董事均有责任配合证监会或上市科进行的任何调查，即使个別人 士不再担任发行人董事，此责任仍然持续。经考虑相关证据后，上市委员会裁定马及金均违反了此规 定，且属严重违规。 证监会的调查仍在进行中。 ...

Group 1 - The Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Stock Exchange (HKEX) have taken disciplinary action against two former directors of Wanma Holdings Limited for failing to cooperate with investigations [1][2] - The HKEX publicly reprimanded former executive director Ma Xiaoqiu and former independent non-executive director Jin Lailin, stating they are unsuitable to hold any director or senior management positions in Wanma Holdings or its subsidiaries [1][2] - The SFC is investigating potential violations of the Securities and Futures Ordinance by Wanma Holdings and related individuals, having issued notices to Ma and Jin for relevant information, which they did not respond to [1][2] Group 2 - The HKEX is also investigating whether Ma and Jin fulfilled their responsibilities under the Listing Rules, with the Listing Committee determining that they severely violated these rules [2] - The SFC emphasized that non-cooperation with regulatory investigations undermines regulatory effectiveness and investor protection, highlighting the serious consequences for directors who neglect their fundamental responsibilities [2][3] - The HKEX maintains a zero-tolerance policy towards non-cooperation in investigations, ensuring appropriate sanctions for non-compliant directors [3]