Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) reported record high revenue and profit for the first half of 2025, with total revenue and other income reaching HKD 14.076 billion, a 33% increase from the same period in 2024, and shareholder profit rising by 39% to HKD 8.519 billion [1][2][12] Financial Performance - Total revenue and other income for H1 2025 was HKD 14.076 billion, up 33% from HKD 10.621 billion in H1 2024 [2] - Shareholder profit for H1 2025 was HKD 8.519 billion, compared to HKD 6.125 billion in H1 2024, marking a 39% increase [2] - Basic earnings per share increased to HKD 6.74 from HKD 4.84, a 39% rise [2] - Interim dividend declared at HKD 6.00 per share, up 38% from HKD 4.36 in the previous year [2] Market Activity - The average daily trading volume for equity securities reached HKD 222.84 billion, a 122% increase from HKD 100.3 billion in the previous year [7] - The average daily trading volume for derivatives and warrants was HKD 17.4 billion, up 72% from HKD 10.1 billion [7] - The average daily trading volume for Hong Kong Stock Connect was HKD 111.04 billion, a 196% increase from HKD 37.5 billion [7] - The number of new listings in H1 2025 was 44, raising a total of HKD 1.094 billion, a more than sevenfold increase year-on-year [8][9] Strategic Developments - HKEX is focusing on enhancing its product ecosystem, optimizing listing systems, and expanding into new commodity business directions [2][12] - A cooperation agreement was signed with the Hong Kong Monetary Authority to explore improvements in post-trade securities infrastructure, including the development of an international central securities depository [12] - HKEX plans to include Renminbi-denominated stocks in the Stock Connect program to facilitate trading for mainland investors [13] - The introduction of a "Tech Company Fast Track" aims to streamline the listing process for technology and biotech firms [13] Future Outlook - The CEO expressed optimism for the second half of 2025, emphasizing the commitment to enhancing platform infrastructure and product offerings to adapt to the changing global macroeconomic environment [2][12] - The company remains cautious about external uncertainties, including geopolitical risks and interest rate fluctuations, while maintaining a positive outlook for market performance [14]

Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) reported record high revenue and profit for the first half of 2025, driven by strong market performance and strategic initiatives [1][2][5]. Financial Performance - HKEX's revenue and other income for the first half of 2025 reached HKD 14.076 billion, a 33% increase from HKD 10.621 billion in the same period of 2024 [2]. - Shareholder profit for the first half of 2025 was HKD 8.519 billion, up 39% from HKD 6.125 billion in the previous year [2]. - The company declared an interim dividend of HKD 6.00 per share, compared to HKD 4.36 per share in 2024, marking a 38% increase [2]. Market Activity - The average daily trading volume for HKEX's stock products was HKD 222.84 billion, a 122% increase year-on-year [6]. - The average daily trading volume for derivatives, including warrants and structured products, rose to HKD 17.4 billion, up 72% from the previous year [6]. - The Hong Kong ETF market saw a significant increase, with average daily trading volume reaching HKD 338 billion, a 184% rise compared to the same period last year [7]. New Listings and Fundraising - In the first half of 2025, HKEX regained its position as the top global exchange for new listings, with 44 companies going public and raising a total of HKD 109.4 billion, a more than sevenfold increase from the previous year [7][8]. - Notable listings included CATL, which raised HKD 41 billion, marking the largest IPO in Hong Kong since February 2021 [8]. Strategic Developments - HKEX is focused on enhancing its product ecosystem, optimizing listing regulations, and expanding its commodity business [1][2]. - The company has entered into a partnership with the Hong Kong Monetary Authority to explore improvements in post-trade securities infrastructure, which is crucial for the development of the fixed income and currency product ecosystem [10][11]. - HKEX plans to introduce RMB-denominated stocks into the Stock Connect program, allowing mainland investors to trade Hong Kong-listed stocks using RMB [11]. Outlook - The CEO expressed optimism for the second half of 2025, emphasizing the commitment to improving platform infrastructure and product offerings to meet the evolving global economic landscape [2][10].

Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) reported record high revenue and profit for the first half of 2025, driven by strong market performance and strategic initiatives [1][2][12]. Financial Performance - HKEX's revenue and other income reached HKD 14.076 billion, a 33% increase from HKD 10.621 billion in the first half of 2024 [2]. - Shareholder profit was HKD 8.519 billion, up 39% from HKD 6.125 billion in the same period last year [2]. - The average daily trading volume for equity products was HKD 240.24 billion, a significant increase of 118% year-on-year [7][8]. - The average daily trading volume for Hong Kong Stock Connect reached HKD 111.04 billion, nearly three times that of the previous year [9]. Market Highlights - The number of new listings in Hong Kong surged, with 44 companies raising a total of HKD 1,094 billion, marking a more than sevenfold increase compared to the previous year [8][9]. - HKEX's stock price increased by nearly 50% year-to-date in 2025, reflecting strong market sentiment [3]. Strategic Developments - HKEX is focusing on enhancing its product ecosystem, optimizing listing processes, and expanding its commodity business [2][12]. - A partnership with the Hong Kong Monetary Authority aims to improve post-trade securities infrastructure, which is crucial for the long-term development of fixed income and currency products [12][13]. - The introduction of the "Tech Company Fast Track" aims to facilitate the listing of technology and biotech firms, enhancing market quality and transparency [13]. Future Outlook - HKEX plans to continue improving its platform and product offerings to provide diverse options and liquidity for investors [2][12]. - The company remains cautiously optimistic about the market outlook for the second half of 2025, despite external uncertainties [14].