【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]

香港交易所上市监管及规则执行主管严玉瑜女士表示，发行人及其董事与香港交易所及香港证监会通力 合作，对维护证券市场运作公平有序、信息灵通至关重要。香港交易所致力维持发行人及市场质量，保 障公众投资者的利益。香港交易所们对不配合调查的行为持零容忍态度。不配合调查属严重不当行为， 香港交易所定会对不合作董事作出适当制裁。谨此提醒发行人和董事务必全面配合香港交易所上市科及 香港证监会的调查，并及时提供准确完备的最新资料。 香港交易所上市科亦正调查马小秋及金来林是否已履行其于《上市规则》下的职责及责任，而二人均没 有对调查作出回复。根据《上市规则》，上市发行人的每名董事均有责任配合香港证监会或香港交易所 上市科进行的任何调查，即使个别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 市委员会裁定马小秋及金来林均违反了此规定，且属严重违规。 香港证监会法规执行部执行董事魏弘福先生表示，董事不配合监管调查会削弱监管成效，妨碍香港证监 会保障投资者权益。此案突显董事忽视基本责任需承担的严重后果。香港证监会与香港交易所的策略性 合作持续带来有力的执行成果，确保敷衍塞责的违规者无法轻易逃脱责任。香港证监会将继续与香港 ...

每经AI快讯，8月11日，香港交易所信息显示，摩根大通在香港交易所的持股比例于8月5日从7.09%降 至6.96%，平均股价为423.2286港元。 ...

金融界8月11日消息，上证指数上涨0.34%，中证香港300本地股指数 (HK300本地，H11167)报1572.69 点。 作者：行情君 据了解，中证香港300内地股指数和中证香港300本地股指数从中证香港300指数样本中按照上市公司的 地域属性分别选取内地以及香港本地上市公司证券作为指数样本，以反映香港市场中内地公司证券以及 香港本地公司证券的整体表现。该指数以2004年12月31日为基日，以1000.0点为基点。 从指数持仓来看，中证香港300本地股指数十大权重分别为：友邦保险（27.93%）、香港交易所 （19.35%）、中银香港（5.57%）、长和（4.93%）、新鸿基地产（4.87%）、中电控股（4.82%）、领 展房产基金（4.06%）、恒生银行（3.08%）、电能实业（2.83%）、香港中华煤气（2.82%）。 从中证香港300本地股指数持仓的市场板块来看，香港证券交易所占比100.00%。 从中证香港300本地股指数持仓样本的行业来看，金融占比55.93%、房地产占比16.41%、公用事业占比 11.97%、通信服务占比6.82%、主要消费占比3.20%、工业占比2.52%、可选消费占比1 ...

Group 1: Market Performance - The Hong Kong financial market showed a strong recovery in the first half of 2025, with multiple indicators reaching historical highs. The average daily trading amount on the Hong Kong Stock Exchange reached HKD 240.2 billion, a significant year-on-year increase of 118%, marking the highest level since 2010 [1] - The average daily trading amount of the Southbound Stock Connect reached HKD 110.96 billion, reflecting a year-on-year growth of 195%, indicating a notable increase in participation from mainland investors [1] - The derivatives market also performed well, with average daily trading volume of futures and options increasing by 11% year-on-year, and the average daily trading volume of RMB currency futures rising by 43%, highlighting the acceleration of RMB internationalization [1] Group 2: Market Capitalization and New Listings - As of June 30, 2025, the total market capitalization of Hong Kong reached HKD 42.7 trillion, a 33% increase compared to the same period last year, driven by the recovery of Chinese mainland economic conditions and the Hong Kong Stock Exchange's continuous optimization of listing regulations [2] - In the first half of 2025, the Hong Kong Stock Exchange received over 200 listing applications, with total new stock financing amounting to USD 14.1 billion, a year-on-year increase of 695%, significantly surpassing the global new stock financing growth of 8% [2] - It is expected that more than 80 medium to large enterprises will advance their plans for A-share or secondary listings in Hong Kong throughout the year [2] Group 3: Investment Outlook - The target price for the Hong Kong Stock Exchange has been raised to HKD 500.0, maintaining a buy rating based on strong fundamentals, including an average daily trading volume exceeding HKD 240 billion and record net inflows from Southbound funds [2] - The valuation corresponds to a price-to-earnings (PE) ratio of 42 times, reflecting a 15.8% increase from the previous trading day's closing price, with a safety margin as it remains below the historical bull market average of 44.7 times [2] - The Hong Kong stock market is currently undergoing a critical phase of valuation recovery and structural transformation, with significant long-term investment value despite potential short-term volatility due to policy expectations [2]

Group 1 - The Hong Kong Stock Exchange (HKEX) announced that any dividends not claimed within six years from the payment date will be forfeited and returned to HKEX [1] - Specifically, the first interim dividend for the fiscal year 2019, which was paid on September 26, 2019, and remains unclaimed by September 26, 2025, will be forfeited at a rate of HKD 3.72 per share [1]

智通财经APP讯，香港交易所(00388)发布公告，凡在股息派付日期起计六年后仍未领取的股息将予没收 及复归香港交易所。因此，香港交易所于2019年9月26日派付而于2025年9月26日仍为未领取的2019年度 第一次中期股息每股3.72港元将予没收及复归香港交易所。 ...

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。 香港，2025 年 8 月 8 日 於本公告日期，香港交易所董事會包括 12 名獨立非執行董事，分別是唐家成先生（主席）、 聶雅倫先生、白禮仁先生、陳健波先生、謝清海先生、張明明女士、車品覺先生、周胡慕芳女士、 丁晨女士、梁柏瀚先生、任志剛先生及張懿宸先生，以及一名身兼香港交易所集團行政總裁的執行 董事陳翊庭女士。 （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） 沒收未領取的 2019 年度第一次中期股息 按照香港交易及結算所有限公司（「香港交易所」）《組織章程細則》的規定，凡在股息派 付日期起計六年後仍未領取的股息將予沒收及復歸香港交易所。因此，香港交易所於 2019 年 9 月 26 日派付而於 2025 年 9 月 26 日仍為未 ...

Investment Rating - The report maintains a "Buy" rating for Hong Kong Exchanges and Clearing Limited (388) with a target price of HKD 500.0, representing a potential upside of 15.8% from the previous closing price [5][32]. Core Insights - The Hong Kong financial market is experiencing a robust recovery, with multiple indicators reaching historical highs. The average daily trading volume for the Hong Kong Stock Exchange (HKEX) in the first half of 2025 reached HKD 240.2 billion, a significant increase of 118% year-on-year, marking the highest level since 2010 [3][8]. - The market capitalization of the Hong Kong market increased to HKD 42.7 trillion by the end of June 2025, reflecting a 33% year-on-year growth, driven by the recovery of Chinese mainland economic conditions and the optimization of listing regulations by HKEX [4][15]. - The report highlights the strong performance of various market segments, including a 195% year-on-year increase in the average daily trading volume of the Stock Connect program, indicating a significant rise in participation from mainland investors [10][15]. Summary by Sections Market Performance - The average daily trading volume for HKEX reached HKD 240.2 billion in the first half of 2025, up from HKD 110.4 billion in the same period of 2024, marking a 118% increase [8]. - The Stock Connect program's average daily trading volume was HKD 110.96 billion, a 195% increase year-on-year, showcasing enhanced participation from mainland investors [10][15]. - The derivatives market also showed strong growth, with average daily trading volume for futures and options increasing by 11% year-on-year, and the trading volume for RMB currency futures rising by 43% [3][10]. Market Capitalization and New Listings - As of June 30, 2025, the total market capitalization of Hong Kong reached HKD 42.7 trillion, a 33% increase from HKD 32.1 trillion a year earlier [4][15]. - In the first half of 2025, HKEX processed over 200 listing applications, with new stock financing totaling USD 14.1 billion, a staggering 695% increase year-on-year [4][15]. Financial Projections - The report forecasts total revenue for HKEX to reach HKD 26.1 billion in 2025, reflecting a year-on-year growth of 16.7% [7]. - Net profit is projected to be HKD 15.2 billion in 2025, with a growth rate of 16.6% [7]. - The report anticipates a diluted earnings per share of HKD 12.0 for 2025, representing a 16.6% increase from the previous year [7]. Regulatory Environment - HKEX announced a series of optimized listing rules effective August 4, 2025, aimed at lowering barriers to entry and enhancing market competitiveness [22]. - The new regulations include reducing the minimum public float requirement from 15% to 10%, which is expected to attract more quality companies to list in Hong Kong [25][22]. Investment Themes - The report emphasizes two main investment themes: growth driven by technology and stable dividend yields from undervalued state-owned enterprises [26][27]. - It highlights opportunities in the AI sector, electric vehicles, and innovative pharmaceuticals, alongside a focus on undervalued state-owned enterprises benefiting from policy support [26][27].