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Express News | HKEX - Welcomes Further Swap Connect Enhancements
[Brokerage Focus] FIRST SHANGHAI maintains a Buy rating on HKEX (00388), as the company's trading and settlement income is expected to sustain stable growth.
Jinwu Financial News | FIRST SHANGHAI released a Research Report indicating that in Q1 2025, HKEX (00388) achieved revenue and other income of 6.86 billion HKD (up 31.8% year-on-year, up 7.5% quarter-on-quarter), with Net income of 4.08 billion HKD (up 37.3% year-on-year, up 7.9% quarter-on-quarter), both reaching historical quarterly highs. The profit growth is mainly attributed to the significant increase in Trade settlement fees due to the surge in spot, derivatives, and Commodity market Volume, as well as the recovery of financing activities in the new stock market. From the perspective of various Business sectors, the Trade fees and Trade system usage fees, settlement and delivery fees, listing fees on the Exchange, and custody and agent services.
Standard Chartered's Regulatory Announcement on Hong Kong Exchange
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[Brokerage Focus] Guosen Securities maintains its "Outperform" rating on HKEX (00388), indicating that its profitability improvement trend is significant and direct.
Jingwu Financial News | Guosen's Research Reports indicate that the HKEX (00388) has released its Q1 2025 report: boosted by the favorable conditions in the Hong Kong stock market, the performance of HKEX in Q1 2025 showed significant growth. The company achieved a revenue of 6.831 billion HKD in Q1 2025, a year-on-year increase of 31.3% and a quarter-on-quarter growth of 8.2%; it also achieved a net income attributable to shareholders of 4.077 billion HKD, a year-on-year increase of 37.3% and a quarter-on-quarter growth of 7.9%. In terms of revenue structure, trading fees driven by trading volume, trading system usage fees, settlement, and clearing fees still dominate, with the former accounting for 46.1% of the main revenue in Q1 2025.
Morgan Stanley: Raises the Target Price of HKEX to 440 Hong Kong dollars and maintains a 'Shareholding' rating.
Morgan Stanley released a Research Report stating that it has raised the Target Price for HKEX (00388) by 13.7%, from HKD 387 to HKD 440, maintaining a 'Shareholding' rating. Morgan Stanley believes that HKEX is prepared for the potential Delisting of HK ADRs, while the strategic team does not see clear details or legal support. Morgan Stanley believes that if all ADRs return to Hong Kong, it will inject more liquidity, with an expected average daily trading volume (ADV) of around HKD 40 billion. It is believed that HKEX is already prepared for the return of ADRs, considering the improvement in IPO structure, a more diversified investor base, and connectivity with the A-share market.
