Zhi Tong Cai Jing·2025-11-05 04:47Core Insights - Hong Kong Exchanges and Clearing Limited (HKEX) reported record high revenues and profits for Q3 2025, continuing a trend of strong performance over the past three quarters [1][2] - The company capitalized on global asset diversification trends and the attractiveness of Chinese assets, leading to significant international capital inflow into the Hong Kong securities market [2] Financial Performance - Q3 2025 revenue and other income reached HKD 77.75 billion, a 45% increase from Q3 2024; EBITDA margin improved to 81%, up 7 percentage points; net profit attributable to shareholders was HKD 49.00 billion, a 56% increase [1] - For the first three quarters of 2025, total revenue and other income amounted to HKD 218.51 billion, a 37% increase from the same period in 2024; EBITDA margin was 79%, up 5 percentage points; net profit attributable to shareholders was HKD 134.19 billion, a 45% increase [1] Market Activity - The new stock market maintained a global leading position with a high number of IPO applications, particularly from thriving sectors like technology; as of September 30, 2025, there were 297 IPO applications in process [2] - Average daily trading volume in the cash market reached HKD 2,564 billion, more than double that of the first three quarters of 2024; average daily contracts in the derivatives market increased by 11% to 1.7 million contracts [3] Strategic Initiatives - HKEX is focused on enhancing market liquidity and promoting global connectivity through strategic reforms, aiming to build a diversified asset ecosystem for the long-term development of Hong Kong's capital market [2] - The company is also seeing increased participation from mainland Chinese investors, contributing to record high average daily trading amounts across various trading channels [2]