The Hong Kong Stock Exchange (0388) announced that the interim results as of the end of June this year, the profit attributable to shareholders was 4.836 billion yuan, down 27% year-on-year, the basic earnings per share was 3.82 yuan, and the interim dividend was 3.45 yuan.
During the period, revenue and other income decreased by 18% year-on-year to RMB8,937 million, due in part to lower average daily turnover, lower trading and settlement fees, and lower depository fees from electronic IPOs.
In the second quarter alone, the main business revenue fell by 4% to 4.514 billion yuan compared with the second quarter of 2021, and the profit attributable to shareholders was 2.168 billion yuan, down 22% year-on-year.
In the first half of this year, the average daily turnover of the Hong Kong securities market was 138.3 billion yuan, down 27% year-on-year.
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The average daily turnover of Hong Kong stocks fell by nearly 30%
According to the Hong Kong Stock Exchange, under the uncertain and volatile market conditions, the average daily turnover of the Hong Kong securities market during the period (138.3 billion yuan) decreased by 27% from the semi-annual high in the first half of 2021, while the average daily turnover of ETFs ($9.7 billion) rose by 59%, and the average daily turnover of futures and options contracts in the derivatives market (1,308,817 contracts) also increased by 8%.
In addition, the Hong Kong Stock Exchange pointed out that in the first half of the year, the trading performance of Shanghai-Shenzhen-Hong Kong Stock Connect continued to be strong, and the Northbound Bond Connect trading volume also continued to grow strongly, with an average daily turnover of 31.2 billion yuan, an increase of 17% year-on-year.
Alibaba and others will mainly list in Hong Kong, and the Hong Kong Stock Exchange believes that it can consolidate Hong Kong's role as the preferred high-quality market for the return of Chinese stocks.
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IPO fundraising shrinks by 90% in the first half of the year
Talking about the IPO market, HKEx said that despite the decrease in the number of new shares during the period, the HKEx's listing fee income increased by RMB 33 million, mainly due to the increase in the forfeited initial listing fee.
In the first half of this year, the Hong Kong IPO market was relatively quiet in the first half of 2022, with a total of 27 companies newly listed on the Hong Kong Stock Exchange, raising a total of 19.7 billion yuan, down 91% from the first half of 2021.
After the implementation of the special purpose acquisition company (SPAC) listing mechanism, two SPACs were listed on the Hong Kong Stock Exchange in the first half of this year, raising 2 billion yuan.
Applications for listing on the Hong Kong Stock Exchange have been in continuous flow. As at 30 June 2022, a total of 189 listing applications were being processed, including 11 SPAC listing applications, indicating that market sentiment has improved and fundraising market activities are expected to recover.
In June 2022, Zai Lab ﹙9688﹚ became the first company to be listed on the main board from a secondary listing to a primary listing, while Alibaba﹙9988﹚ and Bilibili﹙9626﹚ also announced plans to switch to the main board by the end of 2022. Dual main listing, according to the Hong Kong Stock Exchange, can consolidate Hong Kong's role as the preferred high-quality market for the return of Chinese concept stocks.