Core Viewpoint - The report from CICC indicates that Hong Kong Exchanges and Clearing Limited (HKEX) has exceeded profit expectations for the second quarter, driven by sustained trading activity in the Hong Kong stock market, leading to upward revisions in profit forecasts for the next two years [1] Financial Performance - CICC has raised its profit forecast for HKEX's current year by 7% to HKD 16.519 billion [1] - The average daily turnover in the cash market has been adjusted upward by 12% to HKD 235.1 billion [1] - The profit forecast for the next year has been increased by 4.04% to HKD 17.268 billion [1] - The average daily turnover in the cash market for the next year has been revised up by 6% to HKD 256 billion [1] Target Price and Valuation - The target price for HKEX has been raised by 8% to HKD 500 [1] - This target price corresponds to a projected price-to-earnings ratio of 38 times for the current year and 37 times for the next year [1] - CICC maintains an "outperform" rating for HKEX [1]
研报掘金丨中金：Q2盈利胜预期，调高港交所目标价至500港元
Ge Long Hui A P P·2025-08-21 05:37