全球第一，港交所最新发声

Core Viewpoint - Hong Kong Stock Exchange (HKEX) reported record-high revenue and other income for the first half of 2025, driven by significant increases in trading volumes across various markets and a surge in IPO fundraising, positioning it as a leading global exchange [1][4][9]. Financial Performance - HKEX's revenue and other income reached HKD 14.076 billion in the first half of 2025, a 33% increase compared to HKD 10.621 billion in the same period of 2024 [4][6]. - Major business revenue grew by 34% year-on-year to HKD 12.954 billion, with second-quarter revenue also reflecting a 34% increase [5][6]. - Net profit attributable to shareholders was HKD 8.519 billion, up 39% from HKD 6.125 billion in the previous year [5][6]. - EBITDA for the first half of 2025 was HKD 10.939 billion, representing a 43% increase year-on-year [5][6]. IPO and Fundraising Activity - In the first half of 2025, HKEX recorded 44 new listings, raising HKD 1,094 billion, which is over eight times the amount raised in the same period of 2024 [9][12]. - The number of IPO applications has reached a historical high, with approximately 230 companies currently in the pipeline [12]. Market Participation - There has been a notable increase in foreign participation in both primary and secondary markets, with retail investors accounting for about 10% of the secondary market and northbound capital averaging 23% of daily trading volume [13][14]. - The company anticipates continued interest from global long-term funds in upcoming IPOs, reflecting a positive trend in foreign investment [14]. Future Outlook - HKEX plans to implement measures to enhance market competitiveness and attractiveness, including shortening settlement cycles and optimizing IPO pricing regulations [14].