Haitong International report states that the Hong Kong Exchanges and Clearing Limited's revenue and other income for the first three quarters totaled 15.993 billion Hong Kong dollars, a 2% year-on-year increase, with a net income of 9.27 billion Hong Kong dollars, a slight 0.1% year-on-year increase. The company's performance growth in the first three quarters was mainly driven by the mainland's announcement of economic stimulus measures and global central banks adopting monetary easing policies, leading to an improving investment environment. In the third quarter alone, revenue and other income reached 5.372 billion Hong Kong dollars, a 6% year-on-year increase, with a net income of 3.145 billion Hong Kong dollars, up by 7% compared to the previous year. The annualized ROE for the first three quarters was 18.2%, a decrease of 0.6 percentage points year-on-year.
The bank estimates that Hong Kong Exchanges and Clearing Limited will achieve total operating income of 22.9 billion, 24.9 billion, and 26.8 billion Hong Kong dollars for the years 2024 to 2026, previously forecasted at 22.3 billion, 24.1 billion, and 25.6 billion Hong Kong dollars, representing year-on-year growth of 12%, 9%, and 8%, respectively. The net income is expected to be 13 billion, 14.2 billion, and 15.3 billion Hong Kong dollars, compared to the original forecasts of 12.6 billion, 13.6 billion, and 14.2 billion Hong Kong dollars, with year-on-year growth rates of 10%, 9%, and 8%. The bank maintains its "outperform" rating on Hong Kong Exchanges and Clearing Limited with a target price of 368.2 Hong Kong dollars.
