HKEX (00388) released its performance for the first three quarters of the year, with a net profit attributable to shareholders of 13.419 billion yuan, a year-on-year increase of 45%. Both income and profit reached record highs.

HKEX (00388) released its third-quarter performance for 2025, with the company achieving record high revenue, other income, and profit for the third consecutive quarter. Revenue and other income for the third quarter of 2025 were 7.775 billion yuan, an increase of 45% compared to the third quarter of 2024; EBITDA profit margin was 81%, up 7 percentage points from the third quarter of 2024; and profit attributable to shareholders was 4.9 billion yuan, up 56% from the third quarter of 2024. For the first three quarters of 2025, HKEX achieved all-time high revenue, other income, and profit. Revenue and other income for the first three quarters of 2025 were 21.851 billion yuan, up 37% from the first three quarters of 2024; EBITDA profit margin was 79%, up 5 percentage points from the first three quarters of 2024; and profit attributable to shareholders was 13.419 billion yuan, up 45% from the first three quarters of 2024. Group Chief Executive Officer, Andy Chen, said: "In the third quarter of 2025, HKEX continued to capitalize on the global trend of diversified asset allocation and the attractiveness of Chinese assets, achieving record high performance in the third quarter and first nine months of 2025. At the end of the third quarter, our new stock market maintained its global leadership position, with a large number of new listing applications from companies in various thriving industries such as technology. The average daily trading volume in the spot market, derivatives market, and Stock Connect remained active. Meanwhile, the London Metal Exchange continued to enhance market liquidity through various measures, solidifying the development of the metal trading market in the macro environment. HKEX also continued to advance various strategic reforms to further promote market diversification, enhance liquidity, and strengthen global connectivity. As the global landscape continues to evolve, we will seize current opportunities, commit to investing in and building a diversified asset ecosystem, and lay a solid foundation for the long-term development of the Hong Kong capital market." The strong demand for diversified global fund allocation, combined with the attractiveness of Chinese assets, continues to drive international capital inflows into the Hong Kong stock market. With the increasing participation of mainland Chinese investors, the overall average daily trading volume, daily trading volume of the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect all reached record highs in the third quarter of 2025. The performance of the new stock market remained strong, especially with the second largest global fundraising during the quarter and a total of 297 new listing applications being processed as of September 30, 2025. In the first three quarters of 2025, the trading volume in the spot market, derivatives market, and Stock Connect reached a record high for the nine-month period. The overall average daily trading volume in the spot market reached 256.4 billion yuan, more than double the first three quarters of 2024, while the average daily trading volume of derivative contracts reached 1.7 million contracts, up 11% year-on-year. Driven by the record-breaking trading volume in the spot and derivative markets, revenue and other income reached 21.9 billion yuan in the first three quarters of 2025, a 37% increase from the first three quarters of 2024. Operating expenses rose by 7% compared to the first three quarters of 2024. Excluding the non-recurring fine paid to the FCA in 2025 and the legal fees recovered and recognized in 2024 (both related to the nickel market incident in 2022), operating expenses increased by 4% due to higher employee expenses and information technology costs.