--- title: "HKEX Has Record Year as Hong Kong Reclaims IPO Crown -- Update" description: "Hong Kong Exchanges & Clearing (HKEX) reported a record year, with a 15% increase in net profit to HK$4.335 billion and revenue rising 15% to HK$7.31 billion in Q4. The city hosted 119 new listings, r" type: "news" locale: "en" url: "https://longbridge.com/en/news/277004126.md" published_at: "2026-02-26T08:11:33.000Z" --- # HKEX Has Record Year as Hong Kong Reclaims IPO Crown -- Update > Hong Kong Exchanges & Clearing (HKEX) reported a record year, with a 15% increase in net profit to HK$4.335 billion and revenue rising 15% to HK$7.31 billion in Q4. The city hosted 119 new listings, raising HK$286.9 billion, driven by a tech rally and the AI boom. The Hang Seng Index rose nearly 30%, and the IPO pipeline remains strong with over 400 applications. Despite expected volatility in 2026, HKEX remains optimistic about investor interest in Asian assets and plans to modernize its infrastructure. By Kimberley Kao Hong Kong Exchanges & Clearing recorded higher net profit and revenue in the fourth quarter, rounding out another record year for the city's financial markets amid a surge in listings and trading activity. The results cap a year of significant momentum for Hong Kong, from the "DeepSeek moment" drawing global capital back to the city, helping it reclaim its IPO crown, to its stock market notching its best year since 2017 as the AI boom fueled a tech rally. The stock-exchange operator on Thursday posted a 15% gain in net profit to 4.335 billion Hong Kong dollars, equivalent to US$554.3 million, for the three months ended December. That beat analysts' expectation for a slight decline to HK$3.76 billion, according to a Visible Alpha consensus. Revenue and other income climbed 15% to HK$7.31 billion on higher trading and clearing fees across the cash and commodities markets, though lower net investment income from margin funds weighed, the company said. Trading volumes also strengthened during the period, with the headline average daily turnover rising 23% to HK$229.8 billion. "In 2025, HKEX reinforced its role as a global superconnector, regained its position as the world's leading venue for IPOs and set new trading as well as financial performance records," Chief Executive Bonnie Y Chan said in a statement. The city hosted 119 new listings last year that raised HK$286.9 billion, more than triple the funds raised the previous year, with two of them among the world's top five IPOs for the year. Much of that fervor can be traced back to the so-called DeepSeek moment in early 2025, when the Chinese startup released a large language model seen as a rival to OpenAI's ChatGPT. While DeepSeek disrupted the global AI landscape with its low-cost model, in China, it sparked national pride, spurring a tech stock rally and numerous AI company listings. Hong Kong's benchmark Hang Seng Index, where many Chinese companies are listed, rose nearly 30% last year, making it one of Asia's best-performing markets. The Hang Seng Tech Index, which tracks the 30 largest technology companies listed in the city, gained about 23%. The momentum appears to be continuing into 2026, with China's advances in AI, push for technological self-reliance and resilience in global trade buoying investor confidence. The AI frenzy has also driven a new wave of listings, spanning companies involved in large language models, robotics and biotechnology. HKEX said the IPO pipeline remains robust, with over 400 active applications. The fundraising market has attracted robust participation from Asian, European, Middle Eastern and North American investors, Chan said. Looking at 2026, volatility is expected to continue due to the macro environment, she said. However, HKEX sees cause for optimism as global investors continue to seek diversification and risk management opportunities in Asian, particularly Chinese, assets. "Our ongoing strategic development program, which includes investments to modernize our critical infrastructure, will ensure our business continues to remain competitive in this global landscape," Chan said. Shares in HKEX rose about 0.5% after the results, erasing early declines. Write to Kimberley Kao at kimberley.kao@wsj.com (END) Dow Jones Newswires 02-26-26 0306ET ### Related Stocks - [03115.HK - ISHARESHSI](https://longbridge.com/en/quote/03115.HK.md) - [HKXCY.US - Hong Kong Exchanges and Clearing (HKEX)](https://longbridge.com/en/quote/HKXCY.US.md) - [00388.HK - HKEX](https://longbridge.com/en/quote/00388.HK.md) - [513600.CN - China Southern Hang Seng ETF](https://longbridge.com/en/quote/513600.CN.md) - [02800.HK - TRACKER FUND](https://longbridge.com/en/quote/02800.HK.md) - [07300.HK - FI CSOP HSI](https://longbridge.com/en/quote/07300.HK.md) - [00HSI.HK - Hang Seng Index](https://longbridge.com/en/quote/00HSI.HK.md) - [07200.HK - FL2 CSOP HSI](https://longbridge.com/en/quote/07200.HK.md) - [03037.HK - CSOP HSI ETF](https://longbridge.com/en/quote/03037.HK.md) - [07500.HK - FI2 CSOP HSI](https://longbridge.com/en/quote/07500.HK.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 香港年度财政预算案：2025 年经济增长 3.5%、楼市回暖、股市日均成交额增加九成！预计 2026 年经济增长 2.5% 至 3.5% | 香港特区政府财政司司长陈茂波于 25 日发布 2026/2027 财政预算案，预计 2025 年经济增长 3.5%，楼市回暖，股市日均成交额增加九成，创历史新高。2026 年经济增长预计为 2.5% 至 3.5%。通胀保持轻微，基本通胀率为 | [Link](https://longbridge.com/en/news/276851050.md) | | 太空集团终止重组计划，香港交易所取消其上市申请 | 太空集团终止重组，香港交易所取消上市 | [Link](https://longbridge.com/en/news/276832839.md) | | 香港交易所宣布 2025 年第二次中期股息为每股 6.52 港元 | 香港交易所（HKEX）宣布将于 2025 财年结束时派发每股 6.52 港元的第二次中期股息，支付日期为 2026 年 3 月 25 日。股票将于 2026 年 3 月 11 日除息，记录日期为 2026 年 3 月 16 日。此公告反映了 | [Link](https://longbridge.com/en/news/276993996.md) | | 香港交易所创下 2025 年纪录，重新夺回全球 IPO 首位，并扩展其产品生态系统 | 香港交易所 (ADR) 报告了 2025 年的创纪录交易和财务表现，重新夺回了全球领先 IPO 场所的地位。该公司正在现代化其基础设施，并扩展其产品生态系统，包括新的生物科技指数和 ETF。香港交易所还庆祝了其上市 25 周年，成立了迪拜子 | [Link](https://longbridge.com/en/news/276985582.md) | | 预算公布：政府以更强的手段在塑造经济中扮演媒人的角色 | 香港财政司司长公布了一份强劲的预算，预计有 29 亿港元的盈余，标志着政府在经济中将扮演更为积极的角色。政府计划动用外汇基金用于基础设施项目，包括北部都会区的超级项目。该预算反映了对放任政策的转变，符合国家目标，并增加了政府在创新方面的投资 | [Link](https://longbridge.com/en/news/276966696.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.