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HKEX Sets Record First‑Half Profit on IPO Revival and Trading Surge

South‑bound flows plus listing reforms lifted activity.

Overview

  • Profit rose about 39–40% to HK$8.52 billion as revenue climbed 33% to a record HK$14.1 billion in the first half of 2025.
  • Average daily equities turnover jumped 122% to HK$222.8 billion, with mainland south‑bound trading up nearly 200%.
  • Listings rebounded with 44 IPOs raising HK$109.4 billion, a 716% year‑on‑year increase, and more than 200 applications are in the pipeline.
  • HKEX lifted its interim dividend to HK$6 from HK$4.36 and reported earnings per share of HK$6.74 versus HK$4.84 a year earlier.
  • Executives flagged infrastructure and rule changes, including preparation for a shorter settlement cycle and an enhanced IPO allotment regime, while noting risks from tariffs, geopolitics and interest rates.