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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Hong Kong Exchanges and Clearing Limited    388   HK0388045442

HONG KONG EXCHANGES AND CLEARING LIMITED

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Hong Kong Exchanges and Clearing : HKEX's Third-Quarter Net Profit Rose as Trading Volumes Grew

11/11/2020 | 12:02am EST

By Martin Mou

Hong Kong Exchanges & Clearing Ltd. said its third-quarter net profit rose sharply from a year earlier, as its revenue hit a quarterly record on the back of robust trading volumes.

Net profit jumped 52% from a year ago to 3.35 billion Hong Kong dollars (US$432 million), while revenue, including investment income, expanded to HK$5.31 billion from HK$3.99 billion, the exchange operator said Wednesday.

However, the increase in trading and clearing fees from higher headline average daily turnover, which rose 24% from the second quarter, was partly offset by lower net investment income, the company said.

In the primary market, the Hong Kong bourse ranked third globally by funds raised in initial public offerings for the first nine months of the year, it said.

Hong Kong has hosted a number of high-profile secondary listings by Chinese tech companies whose shares are already trading in New York, including online-retailer JD.com and gaming company NetEase. A slate of biotech companies also chose to list in Hong Kong this year.

"With robust trading volumes, a strong IPO pipeline, and an expanding product portfolio, I am confident that HKEX will play an increasingly important role in global markets," Chief Executive Charles Li said.

Write to Martin Mou at martin.mou@wsj.com

(END) Dow Jones Newswires

11-11-20 0001ET

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HONG KONG EXCHANGES AND CLEARING LIMITED 3.94% 501 End-of-day quote.17.88%
NETEASE, INC., 4.78% 110.1 Delayed Quote.14.96%
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Financials
Sales 2020 18 791 M 2 424 M 2 424 M
Net income 2020 11 643 M 1 502 M 1 502 M
Net cash 2020 102 B 13 136 M 13 136 M
P/E ratio 2020 56,4x
Yield 2020 1,58%
Capitalization 634 B 81 730 M 81 733 M
EV / Sales 2020 28,3x
EV / Sales 2021 24,3x
Nbr of Employees 2 182
Free-Float 94,0%
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Technical analysis trends HONG KONG EXCHANGES AND CLEARING LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 434,15 HKD
Last Close Price 501,00 HKD
Spread / Highest target 4,79%
Spread / Average Target -13,3%
Spread / Lowest Target -42,7%
EPS Revisions
Managers and Directors
NameTitle
Chi Kin Tai Co-President, Chief Executive & Operating Officer
Romnesh Lamba Co-President
May Lung Cha Non-Executive Chairman
Vanessa Lau Group Chief Financial Officer
Chung Kwong Leung Group Chief Technology Officer
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