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Hong Kong Exchanges and Clearing Ltd
XMUN:HK2C

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Hong Kong Exchanges and Clearing Ltd
XMUN:HK2C
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Price: 43.815 EUR 0.42% Market Closed
Market Cap: €102.2B

Hong Kong Exchanges and Clearing Ltd
Investor Relations

Hong Kong Exchanges and Clearing Ltd runs the main marketplace where stocks, bonds, derivatives, and related products are traded in Hong Kong. It also provides the clearing, settlement, and depository systems that make those trades finish safely and in an orderly way. In simple terms, it is the central plumbing behind Hong Kong’s public markets. Its customers are securities brokers, investment banks, asset managers, listed companies, and other financial institutions that need access to trading and post-trade services. HKEX earns money mainly from trading fees, listing fees, clearing and settlement charges, and fees for market data and other services. It sits between investors and issuers, taking a fee every time the market uses its infrastructure. What makes the business different is that it is not an ordinary financial company making loans or underwriting deals. It is the exchange and market infrastructure provider that sets the rules, hosts the listings, and processes the transactions. That gives it a central role in Hong Kong’s capital markets and makes its revenue tied to the health and activity of those markets.

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Last Earnings Call
Fiscal Period
Q2 2025
Call Date
Aug 20, 2025
AI Summary
Q2 2025

Record Results: HKEX delivered its best ever half-yearly revenue and profit in H1 2025, with both metrics surpassing previous records.

Revenue & Profit Growth: Revenue and other income grew 33% year-on-year to HKD 14.1 billion; profit after tax rose 39% to HKD 8.5 billion.

Dividend Hike: Interim dividend was raised 38% to HKD 6 per share, representing 90% of profit (ex-HKEX Foundation).

IPO Leadership: HKEX ranked as the top global IPO venue in H1 2025 with 44 IPOs raising over HKD 109 billion and a strong pipeline of about 200 companies.

Market Volumes: Cash market ADT more than doubled year-on-year to HKD 240 billion; derivatives and ETPs also hit record highs.

Southbound Surge: Mainland Southbound trading now makes up 23% of cash market turnover, with ADT almost tripling year-on-year.

Product & Infrastructure: New initiatives include enhancements to the listing mechanism, launch of new trading products, and strategic investment in a new headquarters.

Cautious Outlook: Management remains optimistic but aware of macro and geopolitical uncertainties; focus stays on diversification and innovation.

Key Financials
Revenue and Other Income
HKD 14.1 billion
Profit After Tax
HKD 8.5 billion
Earnings Per Share
HKD 6.74
Interim Dividend Per Share
HKD 6
Cash Market Average Daily Turnover (ADT)
HKD 240 billion
Derivatives Contracts Traded (Half Year Average Daily Volume)
1.7 million contracts
IPO Funds Raised
over HKD 109 billion
Number of IPOs
44
Follow-on Funds Raised
over HKD 240 billion
Northbound Stock Connect ADT
over RMB 171 billion
Southbound Stock Connect ADT
HKD 111 billion
Southbound ETF Average Daily Turnover
HKD 3.8 billion
Northbound ETF Average Daily Turnover
RMB 2.6 billion
USD/CNH Futures Contracts ADV
over 113,800 contracts
Effective Tax Rate
15.8%
Earnings Call Recording
Other Earnings Calls

Management

Ms. Yiting Chan
CEO & Ex-Officio Director

Yiting Chan is a prominent executive associated with Hong Kong Exchanges and Clearing Ltd. (HKEX). She holds a pivotal role in the company, serving as the Head of Post-Trade. In this capacity, she oversees the post-trade operations, strategies, and initiatives, ensuring the smooth functioning and development of clearing and settlement processes which are crucial for maintaining market integrity and efficiency. Before assuming her current role, Yiting Chan has had an accomplished career with extensive experience in financial services. Her expertise spans across risk management, clearing, and settlement, which she has honed through various leadership positions in the industry. Her deep understanding of financial markets and post-trade processes significantly contributes to HKEX's role as a leading global exchange. Under her leadership, HKEX continues to innovate and enhance its post-trade infrastructure to meet evolving market demands and regulatory requirements. Her efforts are instrumental in reinforcing Hong Kong's position as a major international financial center.

Mr. Ka Yan Yiu
Deputy CEO, Co-COO and Co-Head of Markets & Head of Equities

Ka Yan Yiu is an executive at Hong Kong Exchanges and Clearing Ltd. (HKEX), a leading financial services group in Hong Kong that operates a stock and futures exchange. In recent years, Mr. Yiu has been serving as the Chief Financial Officer (CFO) of the company. In this role, he is responsible for overseeing the finance function across various operations of HKEX, contributing to its strategic financial planning and management. With a strong background in finance and leadership, Ka Yan Yiu has played a significant part in HKEX's fiscal growth and operational success. His expertise continues to support the exchange in maintaining its competitive edge in a global financial market.

Mr. Richard Alan Wise
Group Chief Risk Officer

Richard Alan Wise is a notable figure associated with the Hong Kong Exchanges and Clearing Ltd (HKEX). He serves as the Group Chief Risk Officer, a critical role within the organization, where he is responsible for overseeing and managing the enterprise risk management framework. His duties include ensuring that the exchange's risk management practices align with industry standards and regulatory requirements. Richard brings with him a wealth of experience garnered from a distinguished career in the financial services sector. Prior to joining HKEX, he held various senior roles in risk management, primarily dealing with credit risk, operational risk, and market risk. His extensive background provides the necessary expertise to navigate complex risk environments, which is crucial for maintaining the stability and integrity of financial markets under HKEX's purview. His leadership has been instrumental in strengthening HKEX’s risk management frameworks and policies, ensuring they are robust enough to handle the rapidly changing financial landscape. This includes adaptation to new technologies and addressing emerging risks that could impact the global markets. Overall, Richard Alan Wise is considered a key leader within HKEX, contributing to the organization's mission to be a global market leader and a vital part of Hong Kong’s financial infrastructure.

Ms. Kit Shuen Ng
Head of Listing

Ms. Kit Shuen Ng is a key executive at Hong Kong Exchanges and Clearing Ltd. (HKEX), serving as the Group Chief Financial Officer. In this capacity, she plays a crucial role in overseeing the financial management and strategic financial planning of the company. With a strong background in finance and extensive experience in the field, Ms. Ng contributes significantly to the financial governance and strategic initiatives of HKEX. Her expertise includes financial reporting, risk management, and corporate finance, which are vital to the organization's success and stability in the competitive financial market landscape. Ms. Ng's leadership and financial acumen help ensure HKEX's operational efficiency and long-term growth.

Mr. John Hsu
MD & Group CTO

John Hsu is a prominent executive associated with Hong Kong Exchanges and Clearing Ltd (HKEX). He serves as the Chief Operating Officer of HKEX, a role that positions him at the heart of one of the world's most significant financial markets. As COO, Hsu is responsible for overseeing the day-to-day operations of the organization, ensuring efficiency, and managing various operational aspects to support HKEX's strategic objectives. Hsu brings a wealth of experience in financial markets and technology to his role. Prior to joining HKEX, he has held several key leadership positions in different financial institutions, highlighting his capability in both operational management and strategic planning. He is recognized for his expertise in navigating complex regulatory environments and has played an instrumental role in implementing technology-driven solutions to enhance operational efficiencies. His leadership style is characterized by a strong focus on innovation, collaboration, and promoting a culture of excellence. Under his guidance, HKEX has sought to leverage technology and data to improve market infrastructure and offer new products and services. Hsu holds a significant standing in the finance community, not only for his contributions to HKEX but also for his active role in advancing the financial markets sector in Asia. His insights and leadership are crucial to HKEX as it continues to grow and adapt in the rapidly changing global financial landscape.

Mr. Koon Ying Chow
Group General Counsel

Mr. Koon Ying Chow is a prominent figure at Hong Kong Exchanges and Clearing Ltd. (HKEX), where he plays a significant role in the organization's operations and strategic direction. As an accomplished executive with extensive experience in the financial industry, Mr. Chow has contributed to HKEX's position as a leading global marketplace. He has been involved in various initiatives to enhance the exchange's trading infrastructure and expand its market offerings, addressing the evolving needs of local and international investors. His leadership experience and deep understanding of financial markets have been instrumental in navigating the challenges and opportunities facing HKEX. Additionally, Mr. Chow's insights have been valuable in fostering collaborations and partnerships that strengthen HKEX's role as a vital link between Asian and global markets.

Ms. Lilian Cheng
Group Chief Compliance Officer
No Bio Available
Ms. Victoria Cowley
Group Chief Communications Officer
No Bio Available
Ms. Sharon Cheng
Group Chief People Officer

Ms. Sharon Cheng serves as the Chief Executive Officer at Hong Kong Exchanges and Clearing Limited (HKEX). She plays a pivotal role in shaping the strategic direction and operational excellence of the exchange. With a focus on enhancing market infrastructure and expanding HKEX’s global reach, Ms. Cheng is instrumental in driving innovation and integrating sustainable practices into the business framework. Her extensive experience in the financial sector and her leadership qualities contribute significantly to HKEX’s position as a leading global financial exchange. Before her tenure at HKEX, she held notable leadership roles in various financial institutions, where she developed expertise in market dynamics, regulatory compliance, and stakeholder engagement.

Ms. Chunmeng Xu
Chief Representative of Beijing Office & Senior VP of Mainland Affairs Department

Chunmeng Xu serves as an executive at Hong Kong Exchanges and Clearing Ltd (HKEX). She holds the position of Channel Director in the Sales and Marketing Department. Ms. Xu is responsible for overseeing the development and management of strategic channels and partnerships that support the global promotion and accessibility of HKEX's products and services. Ms. Xu has a solid background in finance and marketing, bringing a wealth of experience to her role. She plays a crucial role in expanding HKEX's reach by identifying market trends and leveraging opportunities to enhance the company's visibility in the competitive financial landscape. Through her strategic leadership, she contributes to driving the growth and innovation at HKEX. Her role involves collaborating with various stakeholders, including institutional clients, to ensure HKEX meets their evolving needs while maintaining robust relationships within the financial industry. Additionally, Ms. Xu is known for her dedication to advancing HKEX’s strategic initiatives and reinforcing its position as a leading global marketplace.

Contacts

Address
8/F, Two Exchange Square, 8 Connaught Place, Central
Contacts
+85225221122.0
www.hkexgroup.com
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