Hong Kong Exchanges and Clearing : HKEX's 2020 Net Profit Rose 23% on China-Driven Trading, IPO Boom

By Martin Mou Hong Kong Exchanges & Clearing Ltd. said Wednesday its 2020 net profit jumped 23%, as revenue grew to a record high on the back of a China-fueled boom in trading and new listings. Net profit increased to 11.51 billion Hong Kong dollars (US$1.48 billion), while revenue, including investment income, rose 18% to HK$19.19 billion, the exchange operator said. The net profit exceeded a FactSet estimate for HK$11.37 billion Both profit and revenue reached a new record high for the third year in a row, HKEX added. Chinese investors and companies were a driving force behind the strong…