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Hong Kong’s bourse operator posts record interim profit amid city’s IPO, stock market boom

Asia’s third-largest exchange, the world’s top IPO venue this year, also set a record for second-quarter earnings.

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A man walks past an electronic display board at the Hong Kong stock exchange on May 20, 2025. Photo: Xinhua
Enoch Yiu
Hong Kong Exchanges and Clearing (HKEX) set records for second-quarter and first-half earnings amid a boom in initial public offerings (IPOs) and sizzling stock market turnover, according to a stock exchange filing on Wednesday.

Second-quarter net profit for the operator of Asia’s third-largest stock market rose 41 per cent to HK$4.44 billion (US$569 million), or HK$3.51 per share, from the previous second-quarter high of HK$3.16 billion in 2024. This is the second consecutive quarterly record profit for the HKEX.

That propelled the exchange’s six-month profit to a record HK$8.52 billion, 39 per cent higher than last year, according to HKEX, which recently celebrated its 25th anniversary. The result beat analysts’ estimates and surpassed the previous record profit of HK$6.93 billion in the second half of 2024.
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“HKEX started 2025 from a position of strength, reporting the group’s best-ever half-yearly revenue and profit,” said CEO Bonnie Chan Yiting in a media briefing.

HKEX CEO Bonnie Chan Yiting attends the launch ceremony of a new service on the Integrated Fund Platform at the HKEX Connect Hall in Central on July 3. Photo: Edmond So
HKEX CEO Bonnie Chan Yiting attends the launch ceremony of a new service on the Integrated Fund Platform at the HKEX Connect Hall in Central on July 3. Photo: Edmond So

“After receiving a record number of listing applications over a six-month period, we enter the second half of 2025 with new initiatives that are under way to further enhance the competitiveness and attractiveness of our markets,” she said, pointing out that the exchange was preparing its infrastructure for a shorter settlement cycle and recently enhanced the IPO allotment regime.

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