Financial Data and Key Metrics Changes - HKEX reported record-breaking trading volumes and exceptional financial results for 2024, with revenue increasing by 32% compared to the previous quarter and profit after tax rising by 37% [13][56] - The company achieved carbon neutrality across its operations by the end of 2024 [9] Business Line Data and Key Metrics Changes - The market remained stable despite recent volatility, with strong daily market turnover and a robust IPO pipeline [14] - HKEX signed an agreement to establish its permanent group headquarters at Exchange Square, which will enhance stakeholder engagement and provide long-term cost savings [14] Market Data and Key Metrics Changes - The company emphasized its focus on China strengths and driving international connectivity to foster innovation and sustainability across its markets [13] Company Strategy and Development Direction - HKEX aims to solidify and elevate Hong Kong's position as an international financial center and a super connector between China and the rest of the world [15] - The company plans to invest approximately HKD 1 billion in improving its trading and transaction systems to remain competitive [49] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustained growth despite challenging macroeconomic and geopolitical conditions [13] - The company acknowledged the need to adapt to changes in profit tax, projecting an increase from around 10% to approximately 16% [51] Other Important Information - HKEX has a tradition of paying out 90% of its profit attributable to shareholders, which is considered high compared to global peers [55] - The company is considering system upgrades to allow Mainland investors to participate in AGMs [66] Q&A Session Summary Question: Concerns about PwC's quality of work due to team changes - Management acknowledged the importance of corporate governance and stated that they would evaluate the need for a new auditor for the 2026 financial year [27][28] Question: Inquiry about capitalization costs and profit tax impact - Management confirmed an investment of about HKD 1 billion for system improvements and projected an increase in profit tax from around 10% to 16% [49][51] Question: Suggestion to increase dividends for family offices - Management reiterated the 90% payout ratio and emphasized that dividends depend on profit levels [55][56] Question: Concerns about minority shareholders' interests during placements - Management acknowledged the issue and stated that they would consider feedback regarding placements and related practices [60][61] Question: Inquiry about the property purchase price and AGM participation for Mainland investors - Management defended the property purchase as a strategic investment and confirmed ongoing discussions to allow Mainland investors to participate in AGMs [64][66]

智通财经4月28日电，香港交易所信息显示，贝莱德在哔哩哔哩-W的持股比例于04月22日从5.05%降至 4.79%。 ...

第一期物业及平台物业位于交易广场。交易广场是位处香港中环核心商业区的优质甲级写字楼及商场综 合物业，共有交易广场一、二及三期及富临阁。交易广场是由香港置地发展兴建，香港置地或其附属公 司目前拥有交易广场大部分的权益。 香港交易所扎根交易广场近四十年。本收购交易为香港交易所提供一个难得的战略投资机会，购入交易 广场的相关楼层作为其永久办事处，并彰显香港交易所支持香港作为国际领先金融中心发展的长期承 诺。交易广场是位处香港中环核心商业区的优质甲级写字楼，眺望维多利亚港，并享有便捷交通连接。 交易广场亦是香港金融大会堂的所在地，以及举办香港新股上市活动及其他重要金融相关会议和展览的 地点。连同相关优化项目工程，本收购交易将有助香港交易所作为香港重要的金融市场基础设施，满足 集团的长期业务发展和营运需求，进一步促进香港交易所与持份者的联系，并反映香港交易所作为全球 交易所的地位。本收购交易为香港交易所提供一个长久的办事处地点，将有助提升香港交易所应对不同 房地产周期的韧性，让香港交易所可以受惠于拥有自置物业资产所带来的最大效益和价值，并同时继续 透过租用交易广场若干楼层来维持其营运的灵活性。本收购交易亦将有助香港交易 ...

香港交易所信息显示， 美国银行在 哔哩哔哩-W的持股比例于04月21日从7.47%降至7.03%。 ...

智通财经4月24日电，香港交易所信息显示，纽约梅隆银行在金山云的持股比例于04月22日从15.14%降 至13.06%。 ...

智通财经4月22日电，香港交易所信息显示，美国资本集团在中国财险的持股比例于04月16日从5.97% 升至6.02%，平均股价为13.8261港元。 ...

智通财经APP获悉，美豁免部分产品"对等关税"，港股今日全天强势，三大指数均收涨逾2%，实现五连 涨。截止收盘，恒生指数涨2.4%或502.71点，报21417.4点，全日成交额2533.89亿港元；恒生国企指数 涨2.11%，报7965.81点；恒生科技指数涨2.34%，报5015.12点。 华泰证券指出，往前看，在第一波对等关税扰动发生后，坚定看好港股相对收益表现，原因是：1）产 业上，市场中业绩与关税敏感性较高的出口链及中游制造企业市值占比较低；2）科技企业盈利表现或 将持续支持港股行情演绎；3）外部冲击扰动下，市场或对内需政策存在较大预期。 蓝筹股表现 港交所(00388)表现亮眼。截至收盘，涨6.91%，报334港元，成交额57.31亿港元，贡献恒指43.24点。4 月13日，香港特区政府财政司司长陈茂波发表网志表示，针对全球最新变化，已指示证监会和港交所做 好准备，若在海外上市的中概股希望回流，必须让香港成为它们首选的上市地。港交所亦会加紧做好在 东盟和中东市场的联系和推广工作，吸引更多当地优质企业来港上市，同时汇聚更多国际资金到港，进 一步提升香港国际金融中心的实力和地位。 其他蓝筹股方面，石药 ...

Financial Data and Key Metrics Changes - HKEX reported record financial results for 2024, with revenue and other income increasing by 9% year-on-year, and a remarkable 31% increase in Q4 compared to the previous year [4][7] - Profit attributable to shareholders rose by 10% year-on-year, with Q4 profit showing a significant 46% increase [4][8] - Headline average daily turnover (ADT) reached $186.9 billion in Q4 2024, more than doubling from Q4 2023 [7][9] - Full-year profit after tax was $13.1 billion, with earnings per share at $10.32, both up 10% from 2023 [8][10] Business Line Data and Key Metrics Changes - The cash, commodities, and ETP markets all recorded double-digit growth in average daily turnover and volume, while the derivatives market achieved record average daily volumes [5][10] - Derivatives trading volumes reached new highs, contributing significantly to revenue, with average daily volumes up 15% from 2023 [19][10] - The LME's chargeable average daily volume increased by 18% from 2023, reflecting strong performance in the commodities market [10][12] Market Data and Key Metrics Changes - Northbound and southbound Stock Connect volumes reached record quarterly highs, with northbound ADT up 39% year-on-year and southbound up 55% [17][10] - IPOs in 2024 raised a total of $88 billion from 71 new listings, with new economy companies accounting for over 80% of the capital raised [18][10] Company Strategy and Development Direction - HKEX is focused on enhancing market resilience and competitiveness through strategic reforms, new products, and microstructure enhancements [5][14] - The company aims to modernize its infrastructure and enhance product offerings to ensure long-term market vibrancy and sustainability [14][30] - HKEX is exploring adjacent business opportunities, including the introduction of a virtual asset index series and a data marketplace [28][30] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for 2025, anticipating continued macro uncertainties but renewed interest in trading and IPOs [29][30] - The company plans to implement a minimum spread reduction and explore a shorter settlement cycle (T+1) to enhance market competitiveness [66][70] - Management emphasized the importance of maintaining cost discipline while investing in talent and technology to support sustainable growth [72][75] Other Important Information - The Board declared a second interim dividend of $4.9 per share, bringing the total full-year dividend to $9.26 per share, up 10% from 2023 [8][10] - Operating expenses increased by 6% year-on-year, primarily due to higher staff and IT costs, but the company maintained a strong EBITDA margin [11][12] Q&A Session Summary Question: Update on IPO pipeline and secondary listings - Management noted a strong trend in A-share companies pursuing dual listings in Hong Kong, with around 30 companies already in the pipeline [39][40] - Concerns about SAFE's scrutiny on IPO proceeds were addressed, with management confident in the ongoing encouragement for offshore investments [40][41] Question: Listing requirements and post-listing obligations - Management confirmed ongoing reviews of listing eligibility and compliance requirements to attract more companies [49][50] - Continuous improvements to the listing regime are aimed at maintaining competitiveness [50][52] Question: Effective tax rate and depreciation - Management indicated that the effective tax rate may rise to a minimum of 15% due to BEPS regulations, impacting financials [55][56] - Depreciation and amortization are expected to increase with the launch of new systems in 2025 [58][59] Question: 2025 strategy and operational expenses - Plans for 2025 include enhancing market vibrancy, future-proofing technology, and exploring adjacent business opportunities [64][70] - Management emphasized maintaining cost discipline while investing in talent and IT systems [72][75] Question: Data-related business growth - Management acknowledged the potential for growth in data-related business and the importance of developing a data marketplace [81][84] - The focus remains on diversifying revenue streams while maintaining a strong core business [81][84]

Financial Performance - The group achieved a record revenue and other income of HKD 22.374 billion in 2024, representing a 9% increase compared to 2023[22]. - Operating expenses rose by 6% in 2024, driven by increased employee and IT costs, although some expenses related to the 2022 nickel market incident were offset[22]. - EBITDA for 2024 was HKD 16.281 billion, up 10% from 2023, with an EBITDA margin of 74%, an increase of 1 percentage point[23]. - Profit attributable to shareholders reached HKD 13.050 billion, reflecting a 10% increase from the previous year[24]. - Major business revenue increased by 9% in 2024, reaching HKD 20,559 million, driven by higher trading volumes in cash, derivatives, and commodities markets[26]. - Net investment income from company funds rose by 18% to HKD 1,748 million, primarily due to a decrease in valuation losses from unlisted equity investments[26]. - In Q4 2024, total revenue reached a record high of HKD 6,381 million, up 31% year-over-year[39]. - Q4 2024 shareholders' profit reached HKD 3,780 million, a 46% increase compared to Q4 2023[41]. - The total revenue and other income for the year reached a record high of 22.4 billion, up 9% from 2023[57]. - The board declared a total annual dividend of 9.26 per share, including a second interim dividend of 4.90 per share[58]. Market Developments - New product launches included the first batch of ETF options and the first virtual asset spot ETF in Asia[17]. - The company plans to open an office in Riyadh in 2025, expanding its market presence[17]. - The company continues to strengthen its interaction with international investors and issuers, enhancing its global market position[13]. - The company anticipates that geopolitical and macroeconomic trends will continue to impact global markets, but positive signs of economic recovery are emerging[13]. - The number of new IPOs in 2024 reached 71, raising a total of 88 billion, ranking fourth globally[56]. - The company announced a multi-year infrastructure optimization plan to enhance market capabilities[59]. - The company is actively working on optimizing its listing mechanisms and enhancing corporate governance standards[62]. - The company is focused on maintaining high standards of corporate governance and compliance with regulatory requirements[135]. Trading Activity - Average daily trading value of equity securities on the exchange surged by 29% to HKD 120 billion[27]. - Average daily trading value for Stock Connect (Shanghai and Shenzhen) increased by 39% to RMB 150.14 billion[27]. - Average daily trading value of equity securities in Q4 2024 soared by 113% to HKD 171.5 billion[44]. - Major business revenue rose 24% to 6.017 billion, driven by increased trading volumes in spot and derivative markets[49]. - The average daily turnover in the cash market reached HKD 131.8 billion, a 26% increase year-on-year, with a record high of HKD 620.7 billion on October 8, 2024[77][78]. - The derivatives market saw an average daily contract volume of 1.6 million, up 15% from the previous year[78]. - The average daily trading volume for ETPs (including ETFs and leveraged and inverse products) reached a record high of RMB 189 billion in 2024, up 35% from RMB 140 billion in 2023[185]. Sustainability and Corporate Responsibility - The company is committed to sustainable development, achieving carbon neutrality in its operations by the end of 2024[20]. - HKEX is set to implement mandatory emissions reporting for all LME registered aluminum brands by June 15, 2025, in accordance with the EU Carbon Border Adjustment Mechanism (CBAM)[63]. - The company committed to donating HKD 86 million in 2024 to support various projects focused on financial education, inclusivity, poverty alleviation, and environmental sustainability[66]. - HKEX is expanding its initiatives to promote responsible supply chains in the metals industry, including ongoing support for projects addressing child labor in African mining[66]. - The introduction of climate-related disclosure regulations aligned with IFRS S2 positions Hong Kong as a leader in sustainability reporting[87]. - The total amount raised from new ESG-related bonds in 2024 was HKD 291 billion, indicating a strong market interest in sustainable finance[189]. Strategic Initiatives - The company announced a multi-year platform development plan to enhance market attractiveness and competitiveness[13]. - The company plans to achieve carbon neutrality by the end of 2024 and has submitted science-based greenhouse gas reduction targets for verification[64]. - The company is focused on optimizing infrastructure and product ecosystems to enhance market liquidity and resilience against macroeconomic fluctuations[98]. - The company plans to invest $200 million in digital transformation initiatives over the next two years[119]. - A strategic acquisition of a fintech startup was announced, aimed at integrating advanced analytics capabilities into existing services[115]. Governance and Management - Independent non-executive director Liang Baihan has served on the board since April 26, 2017, with a term extended until April 26, 2026[126]. - The company has a strong governance structure with members serving on various committees including audit, risk, and investment committees[126][128][130]. - The board includes members with extensive experience in finance and risk management, enhancing the company's strategic decision-making capabilities[128][130]. - The board's diverse expertise supports the company's market expansion and product development strategies[130][135]. - The company is committed to continuous improvement in its operational efficiency and risk management practices[135].