First Shanghai Securities·2025-09-01 11:46Group 1: Hong Kong Stock Exchange (388) - Hong Kong Stock Exchange reported revenue of HKD 14.1 billion in H1 2025, a year-on-year increase of 33%[6] - Net profit for H1 2025 reached HKD 8.5 billion, up 39% year-on-year[6] - Daily average trading amount in the cash market reached HKD 222.8 billion, a 122% increase year-on-year[7] - The exchange's EBITDA for H1 2025 was HKD 10.9 billion, with an EBITDA margin of 79%, up 6 percentage points year-on-year[6][10] Group 2: Yili Group (600887) - Yili Group achieved total revenue of RMB 61.93 billion in H1 2025, a year-on-year increase of 3.4%[15] - Net profit for H1 2025 was RMB 7.2 billion, down 4.4% year-on-year, but showed a significant recovery in Q2 with a 44.6% increase[15] - The company’s liquid milk revenue was RMB 36.13 billion, a slight decline of 2.1% year-on-year, while milk powder revenue grew by 14.3%[16] Group 3: Futu Holdings (FUTU) - Futu Holdings reported total revenue of HKD 5.311 billion in Q2 2025, a 69.7% increase year-on-year[23] - The company achieved a net profit of HKD 2.57 billion in Q2 2025, reflecting a 112.7% year-on-year growth[24] - Customer assets reached HKD 973.9 billion, a 68.1% increase year-on-year[26] Group 4: BYD Electronics (0285) - BYD Electronics reported revenue of RMB 80.6 billion in H1 2025, a year-on-year increase of 2.58%[35] - Net profit for H1 2025 was RMB 1.73 billion, up 14% year-on-year[35] - The company’s revenue from the new energy vehicle business grew by 60%, accounting for over 15% of total revenue[35] Group 5: Meili Tianyuan (2373.HK) - Meili Tianyuan achieved revenue of HKD 1.46 billion in H1 2025, a year-on-year increase of 28.2%[42] - The company’s net profit rose by 35.5% to HKD 170 million in H1 2025[42] - Active membership increased significantly, with a 47.8% rise in foot traffic to 920,000 visits in the first half of 2025[43]