HKEX (00388) achieved record high revenue and profit in the first quarter. Shareholders' net profit was HK$5.188 billion, an increase of 27% compared to the same period last year.

HKEX (00388) announced its quarterly performance for the three months ending March 31, 2026. HKEX achieved record high revenue, other income, and profit for the first quarter of 2026. Revenue and other income for the first quarter of 2026 were HK$8.203 billion, representing a 20% increase from the first quarter of 2025 (12% increase from the fourth quarter of 2025). The main business revenue increased by 22% from the first quarter of 2025, reflecting higher transaction volumes in the spot and commodity markets, leading to an increase in trading and settlement fees. The net investment income of the company's funds was HK$441 million (compared to HK$516 million in the first quarter of 2025), with a decrease in fair value gains of externally managed investment funds (external portfolios) (HK$2 million in the first quarter of 2026; HK$138 million in the first quarter of 2025). Operating expenses increased by 2% from the first quarter of 2025, primarily due to an increase in employee expenses, IT expenses, and charitable donations to the HKEX charity fund. However, the operating expenses also included a payment of HK$90 million to the UK Financial Conduct Authority (FCA) for the nickel market incident in 2022 in the first quarter of 2025, and insurance claims of HK$24 million in the first quarter of 2026 for the same incident, offsetting part of the increase. Excluding charitable donations, FCA fines, and insurance claims, operating expenses increased by 9%. The EBITDA profit margin was 81%, a 3-percentage-point increase from the first quarter of 2025 and the fourth quarter of 2025. The net profit attributable to shareholders was HK$5.188 billion, up by 27% from the first quarter of 2025 (20% from the fourth quarter of 2025). HKEX Chief Executive Charles Li said, "In a turbulent macro environment, global investors continue to seek safe havens to capture growth opportunities in Asia. HKEX has had a strong start in 2026, achieving historic highs in revenue and profit for the first quarter. The new Hong Kong stock market continues to maintain strong momentum, with financing amounts continuing to lead globally, and high-quality companies submitting listing applications, further consolidating our position as the preferred financing platform for innovative companies. In the first quarter of 2026, the performance of the secondary market surpassed the previous year, with 20 trading days reaching turnover exceeding HK$300 billion, reflecting active participation from mainland Chinese and international investors, driving steady growth in the Stock Connect and Shanghai-Hong Kong Connect trading, with the latter reaching a new high in daily average turnover. In addition to the stock market, our multi-asset platform also showed strong growth. During the quarter, London Metal Exchange (LME) fee trading volume reached a record high, reflecting the active trading activity in the global metal market. The continued growth of OTC clearing also led to a record high in settlement volume. Our data and connectivity business continues to support the healthy development of the market, strengthening the resilience and capacity of market infrastructure. At the same time, we continue to advance various strategic initiatives to enhance market quality, strengthen infrastructure, and provide a richer range of options for investors and issuers. These initiatives include the second phase of lowering the minimum tick size for stocks, more market structure optimization measures, market consultancy to enhance competitiveness in the listing mechanism, as well as the introduction of new products and indices to enrich the Hong Kong market ecosystem. Looking ahead, we will continue to deepen regional connections, increase market participation, and invest in building a robust and innovative multi-asset ecosystem, ensuring that our markets can seize opportunities in any market cycle."