Group 1 - JPMorgan's stake in Alibaba-W increased from 5.98% to 6.02% as of April 28 [1] - The average share price for this transaction was HKD 115.7105 [1]

智通财经5月2日电，香港交易所信息显示，贝莱德（BlackRock）在蒙牛乳业的持股比例于04月28日从 4.93%升至5.14%，平均股价为19.0401港元。 ...

香港交易所信息显示， 摩根大通（JPMorgan）在 美团-W的持股比例于04月28日从5.12%降至5.10%。 ...

高盛(GS.N)：上调香港交易所(00388.HK)目标价2%至386港元，维持买入评级。 ...

Investment Rating - The investment rating for Hong Kong Exchanges and Clearing Limited (00388.HK) is "Buy" (maintained) [1] Core Views - The report highlights that the market trading activity is vibrant, with the quarterly performance reaching a historical high. The significant growth in performance is attributed to improved investor sentiment driven by advancements in artificial intelligence and other innovations, leading to increased participation from mainland investors in offshore markets [7][8] - The report maintains previous earnings forecasts, expecting shareholder profits for 2025-2026 to be HKD 149.34 billion and HKD 156.73 billion, with growth rates of 14% and 5% respectively. The current stock price corresponds to a PE valuation of 28.9x for 2025 [7][8] Summary by Sections Financial Performance - In Q1 2025, the company achieved total revenue and other income of HKD 69 billion, a year-on-year increase of 32%, and a net profit attributable to shareholders of HKD 41 billion, up 37% year-on-year. The return on equity (ROE) for Q1 2025 was 7.71%, an increase of 1.8 percentage points year-on-year [7][8] - The cash market segment generated revenue of HKD 33 billion in Q1 2025, reflecting a 75% year-on-year increase, accounting for 48% of total revenue. The average daily trading volume in the cash market surged by 153% to HKD 225 billion [7][8] Market Activity - The report notes that the trading volume reached multiple single-day highs, with the Northbound and Southbound trading under the Stock Connect averaging daily trading volumes of HKD 191.1 billion and HKD 109.9 billion, representing increases of 44% and 255% respectively [7][8] - The derivatives market continued its upward trend, with revenue from equity securities and financial derivatives reaching HKD 17 billion, a 9% year-on-year increase, driven by increased trading of structured products and record trading volumes in the derivatives market [7][8] Future Projections - The report projects that the average daily trading volume for the Stock Exchange will increase significantly, with estimates of HKD 175 billion for 2025, reflecting a growth rate of 33% [7][8] - The number of new listings on the main board is expected to remain stable, with projections of 68 new companies listed annually from 2024 to 2027 [7][8]

上 市 公 司 非银金融 2025 年 04 月 30 日 香港交易所 (00388) ——成交额高增驱动业绩创新高，关注中概股回流、A+H 上市维持港股高活跃度 事件：4 月 30 日，港交所披露 1Q25 年报，业绩超预期。1Q25 港交所实现总营收 68.57 亿港元/yoy+32%； 主营收 63.15 亿/yoy+36%(剔除公司资金投资收益及慈善基金捐款收益)；净利润 40.77 亿港元 /yoy+37%/qoq+8%，1Q25 港交所 EBITDA 利润率为 78%/yoy+6pct。成交量高增驱动港交所 1Q25 总 营收、净利润均创同期历史新高，经营效率同比提升（雇员费用下降、EBITDA 利润率改善）。 财务数据及盈利预测 | 港元 | 2024 | 2025Q1 | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入（百万元） | 22374 | 6,857 | 27836 | 28802 | 29577 | | 同比增长率（%） | 9% | 32 | 24% | 3% | 3% | | 归母净利润（ ...

Q1 2025 Financial Performance - HKEX achieved record quarterly revenue and other income of HK$69 billion, a 32% increase year-over-year and a 7% increase quarter-over-quarter[8] - Profit attributable to shareholders reached HK$41 billion, up 37% year-over-year and 8% quarter-over-quarter[10] - Core business revenue increased by 36% compared to Q1 2024, reaching HK$63 billion[14] - EBITDA increased by 42% compared to Q1 2024, reaching HK$53 billion[14] - Basic earnings per share (EPS) increased by 37% year-over-year to HK$323[14] Business Highlights - Average daily turnover (ADT) on the Stock Exchange increased by 144% year-over-year[11, 56] - Average daily volume (ADV) of derivatives contracts reached a record 19 million, up 24% year-over-year[11, 37] - Northbound Stock Connect ADT increased by 44% year-over-year[11, 37] - Southbound Stock Connect ADT increased by 255% year-over-year, reaching a record quarterly high[11, 37] - LME ADV increased by 6% year-over-year[11, 37]

智通财经4月30日电，香港交易所信息显示，贝莱德（BlackRock）在美团-W的持股比例于04月24日从 5.51%升至6.04%。 ...

Group 1 - The core viewpoint of the article highlights that Hong Kong Exchanges and Clearing Limited (HKEX) experienced a significant increase in its stock price, rising over 2% [1] - The net profit for Q1 reached HKD 40.77 billion, marking a year-on-year growth of 37% [1]

Core Insights - The Hong Kong Stock Exchange (HKEX) reported record highs in average daily trading amounts for the first quarter, with figures reaching 2,427 billion HKD for total trading, 1,099 billion HKD for Stock Connect, and 394 billion HKD for Exchange-Traded Products (ETPs) [1] Group 1 - The average daily trading amount for the Hong Kong Stock Exchange reached a new high of 2,427 billion HKD [1] - The average daily trading amount for Stock Connect also hit a record high of 1,099 billion HKD [1] - The average daily trading amount for ETPs reached a new peak of 394 billion HKD [1]