25 April 2025 HKEX (388 HK) Buy: Purchase of permanent headquarter premises Purchase of new headquarters premises from Hong Kong Land (HKL): On 24 April, HKEX announced an agreement to purchase its permanent headquarters premises from HKL. The deal includes a consideration of HKD6.3bn and a commitment from HKL for enhancement works up to HKD400m for a total of 147,025 sq. ft. The purchase price is based on the carrying value of the property as of end- 2024. Based on a simplified calculation net of enhanceme ...

香港交易所 摘要 • 香港股市上涨是题材、估值、资金和政策多重因素驱动的结果，具备天时 地利人和的优势，中央对香港金融中心建设的政策支持，以及内地资金南 下和外资回流，共同推动市场活跃。 • 港交所股价与 ADT（平均每日成交量）高度相关，ADT 是评估港交所盈利 能力的关键指标，其变动主要受市场平均 PE 和日均换手率影响，而南向 资金对换手率的影响尤为显著。 • 2024 年南向资金对港股配置主动性提升，港股通 ADT 显著回升，尤其四 季度贡献突出，截至 2025 年 3 月 7 日，南向资金 ADT 占比创历史新高， 对市场活跃度产生重要影响。 • 当前港股日均换手率处于历史高位，略高于历史估值中枢，市场活跃度高， 主要由换手率驱动估值修复，但与 2021 年 2 月的峰值相比，仍处于初期 阶段。 • 港交所的战略地位和政策红利是其上涨空间和可持续性的关键，2018 年 上市机制改革后，港股市场产业结构发生巨大变化，新经济公司占比提升， 有望进一步提升港股市场弹性。 Q&A 今年以来香港金融板块的表现如何？有哪些主要驱动因素？ 今年以来，恒生指数表现非常亮眼，在两个多月内涨幅超过 20%，指数点位创 ...

高盛：交易所(0388.HK)启动减少证券市场最小价差的咨询,维持买入评级 ...

2022 Q1 Results Analyst Presentation Nicolas Aguzin Chief Executive Officer, HKEX Group Vanessa Lau Group Chief Financial Officer, HKEX Group 27 April 2022 Q3 2021 Key Highlights Disclaimer The information contained in this document is for general informational purposes only and does not constitute an offer, solicitation, invitation or recommendation to subscribe for or purchase any securities, or other products or to provide any investment advice or service of any kind. This document is solely intended for ...

Financial Data and Key Metrics Changes - In Q1 2022, revenues were HKD 4.7 billion, down 1% from Q4 2021 and 21% lower year-on-year [6][12] - Profit remained broadly flat at HKD 2.7 billion compared to Q4 2021 but was down 31% year-on-year [6][12] - Core business revenue, excluding net investment income, was HKD 4.8 billion, up 7% against Q4 but down 16% versus the record Q1 last year [11][12] - EBITDA was HKD 3.5 billion, down 28% year-on-year [14] Business Line Data and Key Metrics Changes - Cash and derivatives business showed resilience despite weak market sentiment, with stock Connect ADT rising 27% from the previous quarter [6][7] - Bond Connect ADT reached a record quarterly high [7] - Trading volumes on the Hong Kong Futures Exchange and the LME saw solid growth, particularly in newer products like Hang Seng TECH Index Futures [13] Market Data and Key Metrics Changes - Hong Kong's IPO market was impacted by the macro environment, but the pipeline remained strong with over 150 active applications, including 10 SPAC applications [8][25] - Average daily trading (ADT) in cash markets rose 16% from the preceding quarter [23] Company Strategy and Development Direction - The company aims to build the marketplace of the future, focusing on three strategic imperatives: connecting China and the world, connecting capital with opportunities, and connecting today with tomorrow [29][30][32] - New initiatives include launching thematic ETFs and modernizing operations and infrastructure [26][28] - The company is committed to sustainability, with an increase in green and ESG-related bond listings [28] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing market volatility and geopolitical fragility but expressed confidence in the company's strong fundamentals and clear strategy [22][35] - The gradual relaxation of pandemic-related restrictions globally is seen as a cautious optimism for future performance [35] Other Important Information - The company is focused on enhancing its product ecosystem and exploring new opportunities in collaboration with Mainland partners [41][75] - The company plans to continue investing in technology, talent, and risk management to support its strategic initiatives [20][36] Q&A Session Summary Question: Insights from the trip to Mainland China and product ecosystem priorities - Management emphasized the importance of Hong Kong as a connector to global markets and discussed ongoing initiatives like ETF Connect [42][43] Question: Sustainability of margin funds AUM increase - Management indicated that the increase in margin funds AUM is linked to trading volumes and volatility, with rising interest rates expected to benefit investment income [40][46] Question: Economics behind SPAC listings - Management explained that SPACs provide an alternative market access method, with listing fees and trading activity expected to increase post-de-SPAC transaction [52][55] Question: IPO pipeline outlook - Management noted the IPO pipeline has grown to around 180 applications, with varying timelines for companies to access the market [60][62] Question: Earnings volatility reduction plans - Management acknowledged the need for stability in revenue streams and highlighted the success of new derivative products in generating activity [80]

2020 Annual Results Analyst Presentation Calvin Tai Interim Chief Executive, HKEX Group Romnesh Lamba Co-President, HKEX Group Vanessa Lau Group Chief Financial Officer, HKEX Group 24 February 2021 Disclaimer The information contained in this document is for general informational purposes only and does not constitute an offer, solicitation, invitation or recommendation to subscribe for or purchase any securities, or other products or to provide any investment advice or service of any kind. This document is ...

Hong Kong Exchanges and Clearing Limited (OTCPK:HKXCF) Q4 2020 Earnings Conference Call February 24, 2021 2:30 AM ET Company Participants Calvin Tai - Interim Chief Executive Romi Lamba - Co-President Vanessa Lau - Group Chief Financial Officer Conference Call Participants Richard Xu - Morgan Stanley Yafei Tian - Citi Gurpreet Singh Sahi - Goldman Sachs Wong Chi-Man - China Galaxy Operator Good afternoon, ladies and gentlemen. Welcome to HKEX 2020 Annual Results Analyst Presentation. Today, we are very plea ...