Jingu Financial News | Guolian Securities pointed out in a recent article that as of the first three quarters of 2024, Hong Kong Exchanges and Clearing Limited (00388) accumulated revenue and other income of 15.993 billion Hong Kong dollars, a year-on-year increase of +2%; net income attributable to the parent company was 9.27 billion Hong Kong dollars, flat year-on-year. In Q3 of 2024, revenue and other income for the quarter were 5.372 billion Hong Kong dollars, with a year-on-year increase of +6% and a quarter-on-quarter decrease of -1%, while net income attributable to the parent company was 3.145 billion Hong Kong dollars, a year-on-year increase of +7% and flat quarter-on-quarter.
The bank continued to point out that in the first three quarters of 2024, the Hong Kong Exchanges and Clearing Limited achieved a trading volume and trading system usage fee of 4.979 billion Hong Kong dollars, a year-on-year increase of +6%, mainly benefiting from the mainland's stimulus economic policies and global monetary easing policies. The trading activity in the Hong Kong stock spot and derivative markets began to improve in September.
The bank stated that the company is expected to have total operating income of 21,927/23,768/26,393 million Hong Kong dollars in 2024/2025/2026, with a year-on-year increase of +7%/+8%/+11%; net income attributable to the parent company will be 12,398/12,980/14,324 million Hong Kong dollars respectively, with a year-on-year increase of +5%/+5%/+10%; and EPS will be 9.78/10.24/11.30 Hong Kong dollars. The bank remains bullish on the company's short-term profit recovery capabilities and long-term growth prospects, maintaining a "buy" rating.
