Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) reported strong financial performance for the fiscal year 2025, with significant increases in revenue and profit, highlighting its role as a global financial hub and its strategic initiatives for future growth [1][2]. Financial Performance - HKEX's total revenue and other income for 2025 reached HKD 29.161 billion, a 30% increase compared to 2024 [1] - Shareholders' profit attributable to the company was HKD 17.754 billion, up 36% from the previous year [1] - Basic earnings per share were HKD 14.05, with a second interim dividend declared at HKD 6.52 per share [1] - In Q4 of 2025, revenue and other income amounted to HKD 7.31 billion, reflecting a 15% year-on-year increase [1] - Main business revenue for Q4 was HKD 6.665 billion, an 11% increase year-on-year [1] - Shareholders' profit for Q4 was HKD 4.335 billion, a 15% increase compared to the same quarter last year [1] Strategic Initiatives - The CEO emphasized HKEX's role as a global connector and its return to the top of the global IPO financing center rankings, achieving record trading volumes and performance [2] - The company is focused on continuous development, actively exploring new opportunities, and reforming its product ecosystem and market microstructure to align with global investor trends [2] - HKEX is making strategic investments to expand its diverse asset ecosystem, including acquiring a 20% stake in a clearing settlement firm and launching LME-recognized warehouses in Hong Kong [2] - Despite anticipated market volatility in 2026, there are optimistic factors, such as global investors seeking diversification through Asian markets, particularly Chinese assets [2] - The long-term strategic development plan includes significant investments in upgrading essential infrastructure to maintain competitiveness in global markets and strengthen Hong Kong's position as an international financial center [2]

Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) reported record revenue and profit for the second consecutive year in 2025, driven by high trading volumes in spot, derivatives, and commodity markets [1][2]. Financial Performance - In 2025, total revenue and other income reached HKD 29.161 billion, a 30% increase from 2024, with main business revenue rising by 32% [1]. - EBITDA for 2025 was HKD 22.796 billion, up 40% from 2024, with an EBITDA margin of 79%, reflecting a 5 percentage point increase [1]. - Net profit attributable to shareholders was HKD 17.754 billion, a 36% increase compared to 2024 [1]. Dividend Distribution - The board declared a second interim dividend of HKD 6.52 per share, fully payable in cash, bringing the total dividend for the year to HKD 12.52 per share [1]. Quarterly Performance - In Q4 2025, total revenue and other income increased by 15% compared to Q4 2024, with main business revenue rising by 11% [2]. - Net profit attributable to shareholders for Q4 2025 was HKD 4.335 billion, a 15% increase from Q4 2024 [2]. Strategic Outlook - The CEO emphasized HKEX's role as a global connector and its position as the leading center for new stock financing, highlighting ongoing product innovation and market structure reforms [2]. - The company aims to enhance its strategic investments and expand its asset ecosystem, including a 20% stake in a rapid clearing settlement and the establishment of LME-recognized warehouses in Hong Kong [2]. Market Environment - Despite anticipated market volatility in 2026, there are optimistic factors as global investors seek diversification through Asian markets, particularly Chinese assets [3]. - HKEX's long-term strategic development plan, including significant infrastructure investments, is expected to maintain its competitiveness and reinforce Hong Kong's status as a global financial center [3].