Xin Lang Cai Jing·2026-02-26 10:21Core Insights - Hong Kong Exchanges and Clearing Limited (00388.HK) reported a 15% increase in revenue and other income for Q4 2025, reaching HKD 7.31 billion compared to Q4 2024 [1][2] - Shareholder profit attributable to the company was HKD 4.335 billion, also reflecting a 15% increase from Q4 2024 [1] - EBITDA margin improved to 78%, up 3 percentage points from Q4 2024 [1] Revenue Breakdown - Main business revenue rose by 11% to HKD 6.665 billion, driven by increased trading and settlement fees in the spot and commodity markets [2] - The increase in revenue was partially offset by higher rebates payable to clearing participants, which reduced net investment income from margin deposits [2] Investment Income - The company's net investment income amounted to HKD 572 million, a significant increase of 68% compared to Q4 2024 [2] - This growth was primarily attributed to a non-recurring gain of HKD 163 million from the valuation of the group's unlisted equity investments, contrasting with a loss of HKD 38 million in Q4 2024 [2]