In "Major Banks," CICC expects HKEX's first-quarter revenue to increase by 8% year-on-year, with profits rising by 9%

CICC published a research report indicating that it expects the Hong Kong Stock Exchange (00388.HK) to have a revenue of HKD 7.4 billion in the first quarter of this year, an increase of 8% year-on-year and 1% quarter-on-quarter. It also expects the main business expense revenue to be HKD 6.27 billion, an increase of 14% year-on-year and 4% quarter-on-quarter. As for profit, it is expected to be HKD 4.43 billion, an increase of 9% year-on-year and 2% quarter-on-quarter.

The firm maintains a target price of HKD 500 for the Hong Kong Stock Exchange, which corresponds to a forecasted price-to-earnings ratio of 34.7 times for this year and 33.1 times for next year, and continues to give it an "outperform" rating