2025-04-30 01:30Financial Data and Key Metrics Changes - HKEX reported record-breaking trading volumes and exceptional financial results for 2024, with a revenue increase of 32% compared to the previous quarter and a profit after tax increase of 37% [12][56]. Business Line Data and Key Metrics Changes - The company highlighted a robust IPO pipeline and strong daily market turnover despite recent market volatility, indicating stability in its business lines [13]. Market Data and Key Metrics Changes - HKEX's market has remained stable with strong daily turnover, reflecting resilience in the face of macroeconomic and geopolitical challenges [12][13]. Company Strategy and Development Direction - The company aims to focus on its strengths in China, drive international connectivity, and foster innovation and sustainability across its markets to position itself for sustained growth [12]. - HKEX has made a strategic investment by purchasing office floors at Exchange Square to establish its permanent headquarters, enhancing stakeholder engagement and providing long-term cost savings [13]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in HKEX's ability to navigate challenges and emphasized the importance of continuous improvement in trading systems to remain competitive [46]. - The CEO noted that despite an increase in profit tax from around 10% to approximately 16%, the company is focused on increasing turnover to offset the impact [51][52]. Other Important Information - HKEX achieved carbon neutrality across its operations by the end of 2024, demonstrating its commitment to sustainability [9]. - The company is considering changes to its auditor for the 2026 financial year, emphasizing the importance of corporate governance [27]. Q&A Session Summary Question: Concerns about PwC's quality of work due to team changes - Management acknowledged the concern and stated that they are evaluating the situation and will consider changing auditors for the 2026 financial year [27][28]. Question: Inquiry about capitalization costs and profit tax impact - The CEO confirmed an investment of approximately HKD 1 billion in system improvements and noted that profit tax is expected to rise to around 16% [48][51]. Question: Suggestion for increasing dividends for family offices - Management reiterated the company's tradition of paying 90% of profit attributable to shareholders and emphasized that dividend increases depend on profit growth [55][56]. Question: Concerns about minority shareholder interests and stock price manipulation - Management acknowledged the issue and stated that they monitor practices related to placements and are open to feedback [60][61]. Question: Inquiry about the recent property purchase price and AGM participation for Mainland investors - Management defended the property purchase as a strategic investment and indicated that they are considering system upgrades to allow Mainland investors to participate in AGMs [64][66].