2025-11-05 04:14Financial Performance - In Q3 2025, the company reported a total revenue and other income of HKD 7.775 billion, a 45% increase compared to HKD 5.372 billion in Q3 2024[8]. - The main business revenue reached HKD 7.484 billion, up 54% from HKD 4.852 billion in the same quarter last year[5]. - The company achieved an EBITDA of HKD 6.225 billion, reflecting a 59% increase from HKD 3.926 billion in Q3 2024[5]. - Shareholders' profit attributable to the company was HKD 4.900 billion, a 56% increase from HKD 3.145 billion in Q3 2024[5]. - Total revenue and other income for Q3 2025 was HKD 78 billion, a record high, representing a 45% increase compared to Q3 2024[20]. - Major business revenue for the first three quarters of 2025 was HKD 20,438 million, a 41% increase from HKD 14,542 million in the same period of 2024[14]. - EBITDA for the first three quarters of 2025 was HKD 17,164 million, reflecting a 48% increase from HKD 11,587 million in 2024[14]. - Shareholder profit for Q3 2025 was HKD 49 billion, a 56% increase compared to Q3 2024[20]. - Revenue for the nine months ended September 30, 2025, reached HKD 17,745 million, a 45.5% increase from HKD 12,202 million in the same period of 2024[82]. - Net investment income for the nine months ended September 30, 2025, was HKD 3,893 million, up 4.4% from HKD 3,728 million in the previous year[82]. - EBITDA for the nine months ended September 30, 2025, was HKD 17,164 million, representing a 47.5% increase compared to HKD 11,587 million in the same period of 2024[82]. - The company reported a net profit of HKD 13,476 million for the nine months ended September 30, 2025, which is a 43.5% increase from HKD 9,354 million in the same period of 2024[83]. - The total comprehensive income for the nine months ended September 30, 2025, was HKD 13,780 million, up 44.5% from HKD 9,517 million in the previous year[83]. Trading Activity - The average daily trading value of equity securities on the exchange was HKD 26.794 billion, a 150% increase from HKD 10.72 billion in Q3 2024[6]. - The average daily trading value of the Stock Connect (Shanghai and Shenzhen) was RMB 26.874 billion, a 144% increase from RMB 11.03 billion in Q3 2024[6]. - Average daily trading value of equity securities on the exchange reached HKD 267.94 billion in Q3 2025, up 22% from Q2 2025[11]. - Average daily trading amount for the first three quarters of 2025 was HKD 2.564 trillion, a 126% increase from HKD 1.136 trillion in the first three quarters of 2024[29]. - The average daily trading amount for the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect reached RMB 2.064 trillion and RMB 1.259 trillion respectively, marking increases of 67% and 229% compared to the same period in 2024[30]. - The average daily trading amount for southbound trading through the Stock Connect was HKD 78.54 billion, up from HKD 22.1 billion in 2024[32]. - The average daily trading amount of Exchange Traded Products (ETPs) reached HKD 378 billion, a 145% increase from the first three quarters of 2024[36]. - The average daily trading volume of derivative products reached 727,000 contracts in Q3 2025, down 5% from Q2 2025[11]. - The average daily trading volume of stock options increased by 30% to 920,000 contracts compared to 705,000 contracts in Q3 2024[6]. - The average daily trading volume of derivative products increased by 11% year-on-year, reaching 1,681,869 contracts in the first three quarters of 2025, a record high[46]. - The average daily trading volume of stock options reached 886,323 contracts, marking a 27% increase compared to the first three quarters of 2024[48]. Market Developments - The company signed a memorandum of understanding with the Abu Dhabi Securities Exchange to enhance market connectivity[3]. - The company is implementing the first phase of reducing the minimum price fluctuation in the Hong Kong securities market[3]. - The company announced plans to optimize the pricing of initial public offerings and further consult on market regulations[3]. - The Hong Kong Stock Exchange successfully implemented the first phase of lowering the minimum tick size on August 4, 2025, with further phases planned for mid-2026[31]. - The group plans to launch the Hang Seng Biotechnology Index futures on November 28, 2025, pending regulatory approval, to enhance its product offerings in the biotechnology sector[51]. - Weekly stock options have seen robust growth, with over 20 million contracts traded since their launch, and new weekly stock options are set to be introduced on November 10, 2025[49]. - The company hosted a seminar in Shanghai in September 2025 to promote the development of a green finance ecosystem in the Guangdong-Hong Kong-Macao Greater Bay Area, attracting around 160 participants[68]. - The company launched the "Towards a Low-Carbon Future" series to explore the role of carbon markets in promoting net-zero emissions in Asia[68]. - The Hong Kong Stock Exchange Charity Fund announced funding projects for local social enterprises to address emerging social and environmental needs in the third quarter of 2025[70]. Expenses and Investments - Operating expenses increased by 2% in Q3 2025, primarily due to higher employee costs[12]. - Operating expenses increased by 3%, primarily due to salary adjustments and inflation-related increases in IT costs, while listing fee revenue growth was lower than that of the stock securities and financial derivatives segment[28]. - Operating expenses grew by 10%, primarily due to salary adjustments and increased costs associated with higher listing fee income[44]. - The operational expenditure rose by 12% to HKD 2,099 million, primarily due to non-recurring items related to the nickel market incident[57]. - The company held external portfolios worth 1.8 billion HKD as of September 30, 2025, down from 7.2 billion HKD at the end of 2024[67]. - Capital expenditures for the group in the first three quarters of 2025 amounted to HKD 3.049 billion, a decrease from HKD 10.27 billion in the same period of 2024[73]. - The group's capital expenditure commitments as of September 30, 2025, were HKD 5.775 billion, significantly higher than HKD 1.702 billion on December 31, 2024[73]. Financial Position - Total assets as of September 30, 2025, amounted to HKD 460,764 million, a significant increase from HKD 381,629 million as of December 31, 2024[84]. - Total liabilities as of September 30, 2025, were HKD 406,087 million, compared to HKD 327,222 million at the end of 2024, reflecting a 24% increase[84]. - Cash and cash equivalents as of September 30, 2025, were HKD 169,251 million, an increase from HKD 134,365 million as of December 31, 2024[84]. - The company’s operating expenses for the nine months ended September 30, 2025, totaled HKD 4,453 million, a slight increase from HKD 4,159 million in the same period of 2024[82]. - The financial statements for the year ending December 31, 2024, were prepared using consistent accounting policies and methods as previous years[85]. - The company has submitted its consolidated financial statements to the Companies Registry in accordance with Hong Kong Companies Ordinance[85]. - The auditor's report on the financial statements did not contain any reservations or matters requiring attention[85].