HKEX(00388)2025-02-27 10:10Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 17,346 million, an increase of 12.3% from HKD 15,445 million in 2023[4] - Net profit for the year was HKD 13,155 million, representing a growth of 9.8% compared to HKD 11,981 million in 2023[6] - Basic earnings per share increased to HKD 10.32, up from HKD 9.37 in the previous year, reflecting a growth of 10.1%[4] - EBITDA for the year was HKD 16,281 million, an increase of 9.7% from HKD 14,828 million in 2023[4] - The company reported a total comprehensive income of HKD 13,127 million for the year, compared to HKD 12,087 million in 2023, indicating a growth of 8.6%[6] Revenue Breakdown - The total trading fees and system usage fees amounted to HKD 7,189 million, an increase of 18.2% from HKD 6,081 million in 2023[4] - The revenue from the equity securities and financial derivatives segment was HKD 9,120 million in 2024, up from HKD 7,913 million in 2023, marking a growth of approximately 15.3%[36][38] - The revenue from the commodities segment increased to HKD 2,562 million in 2024 from HKD 1,998 million in 2023, which is a significant rise of about 28.2%[36][38] - The data and connectivity segment generated revenue of HKD 2,122 million in 2024, compared to HKD 2,067 million in 2023, showing a slight increase of approximately 2.7%[36][38] Expenses and Liabilities - Operating expenses rose to HKD 5,761 million, up from HKD 5,441 million in 2023, marking an increase of 5.9%[4] - Total liabilities increased to HKD 327.222 billion, up from HKD 289.383 billion, reflecting a rise of 13.09%[8] - The group’s operating expenses totaled HKD 5,761 million in 2024, an increase from HKD 5,441 million in 2023, representing a rise of approximately 5.9%[36][38] Cash Flow and Investments - The net cash inflow from operating activities for the year ended December 31, 2024, was HKD 12,783 million, an increase of 13.2% from HKD 11,294 million in 2023[12] - The company invested HKD 1,604 million in fixed and intangible assets during the year, compared to HKD 1,386 million in 2023, indicating a 15.7% increase[12] - The company’s cash flow from investment activities showed a net inflow of HKD 3,194 million, a significant recovery from a net outflow of HKD 6,290 million in 2023[12] Assets and Equity - Total assets increased to HKD 381.629 billion as of December 31, 2024, up from HKD 341.179 billion in 2023, representing a growth of 11.85%[8] - The company’s retained earnings reached HKD 21.890 billion, an increase from HKD 19.723 billion, showing a growth of 11.03%[9] - The total equity attributable to shareholders of Hong Kong Exchanges increased to HKD 53.852 billion from HKD 51.344 billion, a rise of 4.88%[9] Dividends - The company declared an interim dividend of HKD 4.36 per share for the 2024 fiscal year, totaling HKD 5,513 million[11] - The total interim dividend declared for the fiscal year 2024 was HKD 11.706 billion, an increase from HKD 10.639 billion in 2023, marking an increase of approximately 10%[79] Taxation - Total tax expense for 2024 was HKD 1,698 million, an increase from HKD 1,351 million in 2023[70] - The weighted average applicable tax rate for 2024 was 16.9%, up from 16.4% in 2023[72] Employee Compensation - Employee costs increased to HKD 3,886 million in 2024 from HKD 3,564 million in 2023, representing a growth of 9.0%[53] - The total remuneration for the five highest-paid employees in 2024 was HKD 71,645 thousand, compared to HKD 65,489 thousand in 2023[67] Financial Assets and Credit Risk - The company’s financial assets measured at fair value through profit or loss increased to HKD 7.558 billion, up from HKD 6.961 billion, a growth of 8.57%[8] - The expected credit loss for financial assets is assessed using a simplified approach, with a total expected credit loss of HKD 8.38 billion as of December 31, 2024, down from HKD 17.57 billion in 2023[104] Governance and Management - The board of directors includes 12 independent non-executive directors, ensuring a diverse and experienced governance structure[3] - The group’s operating segments are reported in a manner consistent with internal management reports used for strategic decision-making[31] Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[3] - The group anticipates no significant impact from the adoption of HKFRS 19, HKFRS 7, and HKFRS 9 amendments[22]