AI & Tech IPO Surge Drives Hong Kong Exchange to Record First-Half Profit

Hong Kong Exchanges and Clearing (HKEX) posted record-breaking results for the first half of 2026, boosted by a massive resurgence in initial public offerings (IPOs)—particularly from technology and artificial intelligence enterprises.

Driven by strong secondary trading volumes and buoyant market sentiment, HKEX solidified its position as the world’s second-largest IPO market in H1 2026.

Key Financial Highlights

• Attributable Net Profit: HK$10.57 billion (~$1.35 billion), up 24% YoY (beating analyst estimates of HK$10.2 billion).

• Revenue & Other Income: HK$16.7 billion, an increase of 19% YoY.

• Core Business Revenue: HK$15.5 billion (+19% YoY), setting half-yearly volume records across cash, derivatives, and commodities markets.

• Interim Dividend: Declared at HK$7.43 per share, up 24% compared to H1 2025.

Core Drivers of Growth

1. The AI & Tech Fundraising Frenzy

The Hong Kong market experienced a significant surge in listings from artificial intelligence, technology, media, and telecommunications firms. During H1 2026:

• HKEX welcomed 87 new listings, an 87.7% increase YoY.

• Total funds raised via IPOs reached HK$212.4 billion (~$27.1 billion), marking a 94.2% jump YoY.

2. Robust Trading Across Markets

Core trading revenues expanded on the back of heightened market activity:

• Stock Connect Expansion: Northbound daily average turnover under the Stock Connect program doubled year-over-year.

• Multi-Asset Ecosystem: Derivatives and commodities trading through the London Metal Exchange (LME) saw record volume, alongside expanded yuan-denominated investment products.

3. Deep Pipeline for H2

HKEX Chief Executive Bonnie Chan noted that strong market momentum continues to be supported by international and mainland Chinese capital. Looking ahead, the exchange holds an active pipeline of over 400 IPO applicants, indicating sustained listing activity through the remainder of the year.

H1 Performance Summary