Hong Kong Exchanges and Clearing (HKEX) reported its best-ever half-year results for the first six months of 2025, buoyed by strong trading volumes and a revival in the city’s listings market.
HKEX Posts Record Half-Year Profit as IPO Market Rebounds
Revenue and other income rose 33 per cent year-on-year to HK$14.08 billion, while profit attributable to shareholders climbed 39 per cent to HK$8.52 billion.
The exchange operator said core business revenue grew 34 per cent, supported by record volumes in the cash equities and stock options markets, alongside higher depository fees and increased net investment income.
Net investment income from corporate funds rose to HK$1.04 billion, compared with HK$901 million a year earlier, boosted by an exchange gain from a stronger U.S. dollar against the Hong Kong dollar.
Operating expenses increased 6 per cent, reflecting a HK$90 million fine imposed by the UK Financial Conduct Authority linked to the 2022 nickel market events. Excluding one-off items, costs rose 1 per cent.
Chief executive Bonnie Y Chan said: “HKEX started 2025 from a position of strength, reporting the Group’s best-ever half-yearly revenue and profit. Volumes in the Cash Market, Derivatives Market and Stock Connect all reached record half-yearly highs and we regained our position as the world’s No.1 IPO venue by funds raised.”
Chan added that HKEX is pressing ahead with initiatives to strengthen its markets in the second half, including a shorter settlement cycle, expanded paperless listing regime, and updated IPO price discovery requirements.
