HKEX (00388) achieved record high revenue and net profit in the first quarter. Shareholders' net profit reached 5.188 billion Hong Kong dollars, up 27% year-on-year.

HKEX (00388) released its quarterly performance for the three months ending March 31, 2026, with record-high revenue and other income, as well as profit for the first quarter of 2026. The revenue and other income for the first quarter of 2026 reached 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 an increase in trading volume in the spot and commodity markets, leading to an increase in trading and settlement fees. The net investment income of the company amounted to HK$441 million (compared to HK$516 million in the first quarter of 2025), with a decrease in fair value gain net income 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 (decreased by 5% from the fourth quarter of 2025), mainly due to an increase in employee expenses and information technology expenses, as well as an increase in charitable donations to the HKEX charity fund. However, the company paid a HK$90 million fine to the UK Financial Conduct Authority (FCA) for the 2022 nickel market incident during the first quarter of 2025, and received a HK$24 million insurance claim in the first quarter of 2026 related to the incident, offsetting some of the increases. Excluding charitable donations, FCA fine expenses, and insurance claims, operating expenses increased by 9%. The EBITDA profit margin was 81%, an increase of 3 percentage points from the first quarter of 2025 and the fourth quarter of 2025. Net profit attributable to shareholders was HK$5.188 billion, a 27% increase from the first quarter of 2025 (20% increase from the fourth quarter of 2025). Group CEO Charles Li said, "In a turbulent macro environment, global investors continue to seek safe havens, capturing growth opportunities in Asia. HKEX has had a good start in 2026, with record-high revenue and profit in the first quarter. The Hong Kong IPO market continues to show strong momentum, maintaining its position as a leading global fundraising platform, with quality companies submitting listing applications, solidifying our position as the preferred financing platform for innovative enterprises. In the first quarter of 2026, the performance of the secondary market exceeded that of the same period in 2025, with 20 trading days seeing trading values exceeding HK$300 billion, reflecting active participation from mainland Chinese and international investors, leading to steady growth in the Stock Connect and Bond Connect trading volumes, with the average daily turnover of the Stock Connect program reaching a historical high. In addition to the stock market, our diversified asset platform has also shown strong growth. During the quarter, the London Metal Exchange (LME) witnessed record-high fee trading volumes, reflecting active trading activities in the global metal market. The continued growth of the OTC Clearing House also led to record-high settlement volumes. Furthermore, our data and connectivity business continued to support the healthy development of the market, strengthening the resilience and scalability of market infrastructure. At the same time, we continue to advance various strategic initiatives to enhance market quality, strengthen infrastructure, provide a wider range of choices for investors and issuers. These initiatives include the second phase of lowering the minimum tick price for stocks, more market structure optimization measures, market consultations to enhance the competitiveness of 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, expand market participation, and invest in building a robust and innovative multi-asset ecosystem to ensure that our markets can seize opportunities in any market cycle."