Business description: Hong Kong Exchanges and Clearing Limited

Hong Kong Exchanges and Clearing Ltd is a company mainly engaged in the operation of securities exchange business. The Company operates its business through four segments. The Cash segment is engaged in trading, clearing, settlement, custody and related services for equity products. The Equity and Financial Derivatives segment is engaged in trading, clearing, settlement, custody and related services for equity securities and financial derivatives products. The Commodities segment is engaged in trading, clearing, settlement and related services for metals and other commodity futures and options contracts. The Data and Connectivity segment offers market data sales, platform and infrastructure services and related technology services.

Number of employees: 2,497

Sales by Activity: Hong Kong Exchanges and Clearing Limited

Fiscal Period: December 2021 (HKD) 2022 (HKD) 2023 (HKD) 2024 (HKD) 2025 (HKD)

Cash

6.13B 5.06B 8.14B 9.41B 14.68B

Equity and Financial Derivatives

3.44B 3.18B 6.5B 6.2B 6.86B

Commodities

1.48B 1.34B 2.19B 2.77B 3.16B

Data and Connectivity

1.05B 1.14B 2.07B 2.12B 2.27B

Post Trade

8B 7.62B - - -

Corporate Items

721M -39M 1.5B 1.77B 1.89B

Geographical breakdown of sales: Hong Kong Exchanges and Clearing Limited

Fiscal Period: December 2021 (HKD) 2022 (HKD) 2023 (HKD) 2024 (HKD) 2025 (HKD)

Hong Kong

17.22B 14.94B 13.32B 14.67B 20.72B

United Kingdom

2.18B 1.89B 2.03B 2.6B 2.95B

Mainland China

72M 101M 92M 83M 77M

Executive Committee: Hong Kong Exchanges and Clearing Limited

Manager TitleAgeSince
Chief Executive Officer 57 29/02/2024
Director of Finance/CFO 63 08/06/2025
Director of Finance/CFO 53 31/12/2016
Chief Tech/Sci/R&D Officer - 31/08/2023
Chief Tech/Sci/R&D Officer 63 01/06/2017

Composition of the Board of Directors: Hong Kong Exchanges and Clearing Limited

Director TitleAgeSince
Director/Board Member 70 27/04/2021
Director/Board Member 58 27/04/2021
Director/Board Member 63 27/04/2021
Director/Board Member 57 29/02/2024
Chairman 71 23/04/2024
Director/Board Member 77 25/04/2023
Director/Board Member 72 15/02/2024
Director/Board Member 60 28/10/2024
Director/Board Member 56 29/04/2025
Director/Board Member 62 29/04/2025

Shareholders: Hong Kong Exchanges and Clearing Limited

NameStocks%Valuation
Government of Hong Kong Special Administrative Region
6.166 %
78,172,780 6.166 % 3 988 M $
BlackRock Fund Advisors
2.924 %
37,065,892 2.924 % 1 891 M $
JPMorgan Investment Management, Inc.
2.133 %
27,036,842 2.133 % 1 379 M $
JPMorgan Asset Management (Asia Pacific) Ltd.
0.7731 %
9,801,940 0.7731 % 500 M $
BlackRock Investment Management (UK) Ltd.
0.5353 %
6,786,117 0.5353 % 346 M $
NameStocks%Valuation
Confluence Investment Management LLC
0.002332 %
29,563 0.002332 % 2 M $
RhumbLine Advisers LP
0.001844 %
23,375 0.001844 % 1 M $
GAMMA Investing LLC
0.000721 %
9,138 0.000721 % 466 148 $
Salomon & Ludwin LLC
0.000099 %
1,254 0.000099 % 63 969 $
Thurston, Springer, Miller, Herd & Titak, Inc.
0.000015 %
194 0.000015 % 9 896 $

Company details: Hong Kong Exchanges and Clearing Limited

Hong Kong Exchanges & Clearing Ltd.

Two Exchange Square

, Hong Kong

+852 2522 1122

http://www.hkex.com.hk
address Hong Kong Exchanges and Clearing Limited(388)

Group companies: Hong Kong Exchanges and Clearing Limited

NameCategory and Sector
Regional Banks
Regional Banks
Investment Managers
Investment Managers
Investment Banks/Brokers

Other Financial & Commodity Market Operators

Change 5-day change 1-year change 3-year change Capi.($)
+1.71%-4.04%-7.54%+22.55% 60.32B
-0.97%-2.17%-21.70%+26.39% 78.72B
-0.05%-5.63%-20.11%+2.05% 57.49B
-0.69%-0.16%-9.74%+48.83% 51.71B
+0.02%-1.93%-0.06%+49.99% 49.06B
+1.12%+3.50%+62.34%+134.62% 18.47B
-0.41%+2.11%+1.68%+127.05% 17.08B
+2.12%-0.52%+16.62%+5.03% 15.02B
-0.44%+2.12%-8.26%+70.37% 9.88B
+3.97%+2.88%-18.02%+122.41% 7.12B
Average +0.66%-0.80%-0.48%+60.93% 36.49B
Weighted average by Cap. +0.18%-2.03%-7.14%+40.65%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
19
Last Close Price
374.00HKD
Average target price
518.47HKD
Spread / Average Target
+38.63%

Quarterly revenue - Rate of surprise

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