Hong Kong Exchanges and Clearing Ltd (FRA:HK2C)

Full Year 2024 Hong Kong Exchanges and Clearing Ltd Earnings Call Transcript

Feb 27, 2025 / 09:30 AM GMT

Release Date Price: €44.78 (+1.12%)

Transcript

Key Points

Positve

Hong Kong Exchanges and Clearing Ltd (HKXCF) delivered record financial results in 2024, with revenue and other income up 9% from the previous year.
Profit attributable to shareholders increased by 10% year-on-year, with a remarkable 46% increase in the fourth quarter.
The diversification strategy is paying off, with double-digit growth in cash, commodities, and ETP markets, and record average daily volumes in the derivatives market.
The Connect program saw record highs in northbound and southbound trading volumes, reflecting strong investor interest.
HKXCF continues to attract innovative companies, with new economy companies accounting for over 80% of capital raised in IPOs in 2024.

Negative

Investment income from margin funds decreased, partly offsetting revenue gains.
Operating expenses increased by 6%, driven by higher staff and IT costs.
Net investment income of margin funds fell by 13%, due to increased rebates and lower returns from Japanese yen collateral.
The company faces ongoing macroeconomic uncertainties and geopolitical developments that could impact market sentiment.
The introduction of new tax rules under BEPS 2.0 could have a meaningful impact on financials, with a minimum 15% tax rate likely to be applied retrospectively.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

0388.HK - Hong Kong Exchanges and Clearing Ltd
Full Year 2024 Hong Kong Exchanges and Clearing Ltd Earnings Call
Feb 27, 2025 / 09:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, ladies and gentlemen. Welcome to HKEX 2024 full year results analyst presentation. Today, we are very pleased to have our Chief Executive Officer, Ms. Bonnie Yi Chen, and our COO and group CFO, Ms. Vanessa Lau. Bonnie and Vanessa will first give a presentation about our business highlights, strategic progress, and financial results. Then we are very happy to take some of your questions. Without further ado, over to you, Bonnie.

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Unidentified_2 [2]
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Thank you, Ricky, and good afternoon, everyone.

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