2025-08-20 04:00Financial Performance - In the first half of 2025, the company's total revenue reached HKD 14,076 million, a 33% increase compared to HKD 10,621 million in the same period of 2024[10]. - The company reported a net profit attributable to shareholders of HKD 8,519 million, up 39% from HKD 6,125 million in the first half of 2024[10]. - The EBITDA for the first half of 2025 was HKD 10,939 million, reflecting a 43% increase from HKD 7,661 million in the same period of 2024[10]. - The company announced a mid-term dividend of HKD 6.00 per share, a 38% increase from HKD 4.36 per share in the previous year[10]. - For Q2 2025, revenue and other income reached HKD 7.219 billion, a 33% increase from Q2 2024[17]. - Revenue for the six months ended June 30, 2025, was HKD 11,034 million, a 37% increase from HKD 8,062 million for the same period in 2024[127]. - The company reported a net profit of HKD 8,562 million for the six months ended June 30, 2025, compared to HKD 6,186 million in 2024, reflecting a 38% increase[128]. Trading Activity - The average daily trading value of equity securities on the exchange was HKD 222.84 billion, representing a 122% increase from HKD 100.3 billion in the previous year[11]. - The average daily trading value of the Hong Kong Stock Connect was HKD 111.04 billion, a significant increase of 196% from HKD 37.5 billion in the same period last year[11]. - The average daily trading amount in the securities market reached HKD 240.2 billion, a year-on-year increase of 118%[23]. - The average daily trading volume of stock options increased by 25% to 8,684 thousand contracts compared to 696 thousand contracts in the first half of 2024[11]. - The average daily trading volume of derivative contracts reached 1,700,322, marking an 11% increase compared to the first half of 2024, driven by growth in stock options and futures[65]. - The average daily trading volume of structured products reached HKD 17.4 billion, a 72% increase from the previous year, driven by a positive market sentiment[72]. Market Developments - The company received a record number of new stock listing applications in the past six months, indicating strong market interest[3]. - The total fundraising amount from new listings in the first half of 2025 was HKD 109.4 billion, up 716% year-on-year, making Hong Kong the top global market for new listings[23]. - The number of new stock listings in Hong Kong increased significantly, with fundraising amounting to over eight times that of the first half of 2024, making it the top global exchange for new stock fundraising[39]. - The introduction of the "Tech Company Fast Track" aims to assist technology and biotech companies in preparing for listing more efficiently, enhancing market quality and transparency[28]. - The average daily trading volume for the Hong Kong ETF market reached HKD 33.8 billion, a 184% increase compared to the same period last year[23]. Strategic Initiatives - The company plans to implement new measures to enhance market competitiveness, including shortening the settlement cycle for the cash market and expanding the paperless listing mechanism[3]. - The company is actively pursuing strategic initiatives to enhance its product ecosystem and optimize its listing regime[3]. - A strategic cooperation agreement was signed with the Hong Kong Monetary Authority's subsidiary to explore optimizing post-trade securities infrastructure, including the development of an international central securities depository platform[27]. - The company aims to achieve carbon neutrality by the end of 2024 and has set science-based greenhouse gas reduction targets[32]. - The company is developing a comprehensive fund platform to enhance the efficiency of fund distribution and solidify Hong Kong's position as a global wealth and asset management center[57]. Operating Expenses - Operating expenses rose by 6% year-on-year, primarily due to a HKD 90 million fine paid to the FCA and legal fees recovered in the previous year related to the 2022 nickel market incident[13]. - Operating expenses increased by 6% to HKD 2,973 million for the six months ended June 30, 2025, compared to HKD 2,794 million in the same period of 2024[98]. - Professional fees surged by HKD 43 million (93%) due to legal costs related to the 2022 nickel market incident, with HKD 50 million recognized in the first half of 2024[100]. Investment and Financial Position - Net investment income from company funds was HKD 1.044 billion, up from HKD 901 million in the first half of 2024, attributed to non-recurring foreign exchange gains from USD to HKD[13]. - The annualized net investment return increased to 5.73% for the six months ended June 30, 2025, compared to 5.33% in 2024[88]. - As of June 30, 2025, total financial assets increased by 15% to HKD 348,366 million compared to HKD 303,984 million on December 31, 2024[105]. - Cash and cash equivalents rose by 29% to HKD 173,897 million from HKD 134,365 million[105]. - The group’s total operating income after trading-related expenses was HKD 13,912 million, showcasing effective cost management[136]. Employee and Community Engagement - The group organized 55 internal courses for employees to enhance their professional knowledge and skills during the six months ended June 30, 2025[126]. - The company’s charity fund contributions amounted to HKD 78 million, reflecting its commitment to social responsibility[136]. - The group has initiated a new employee stock incentive plan to enhance workforce motivation and retention[157]. Future Outlook - Future guidance indicates a projected revenue growth of 20% for the next quarter[157]. - The company plans to explore strategic acquisitions to bolster its product offerings and market reach[157]. - The overall market expansion strategy includes partnerships with local firms to facilitate entry into new regions[157].