Hong Kong Exchanges

0388
End-of-day quote Stock Exchange of Hong Kong - 08/22
251.6HKD
-1.1%

Hong Kong Exchanges and Clearing : Condensed Consolidated Financial Statements for the six months ended 30 June 2019 (Unaudited)

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08/14/2019 | 11:51 am

Pursuant to Chapter 38 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the Securities and Futures Commission regulates Hong Kong Exchanges and Clearing Limited in relation to the listing of its shares on The Stock Exchange of Hong Kong Limited. The Securities and Futures Commission takes no responsibility for the contents of this document, makes no representation as to its accuracy or completeness, and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document.

Incorporated in Hong Kong with limited liability

Stock Code: 388

Condensed Consolidated Financial Statements

For the six months ended 30 June 2019

(Unaudited)

As at 14 August 2019, the board of directors of Hong Kong Exchanges and Clearing Limited (HKEX or the Company) comprises 12 Independent Non-executive Directors, namely

Mrs Laura May-Lung CHA (Chairman), Mr Apurv BAGRI, Mr CHAN Tze Ching, Ignatius, Mr CHEAH Cheng Hye, Ms FUNG Yuen Mei, Anita, Mr Rafael GIL-TIENDA, Dr HU Zuliu, Fred, Mr HUNG Pi Cheng, Benjamin, Mr LEUNG Pak Hon, Hugo, Ms MA Xuezheng, Mary, Mr John Mackay McCulloch WILLIAMSON, and Mr YIU Kin Wah, Stephen, and one Executive Director, Mr LI Xiaojia, Charles, who is also HKEX's Chief Executive.

1

CONDENSED CONSOLIDATED INCOME STATEMENT (UNAUDITED)

(Financial figures are expressed in Hong Kong Dollar)

Six months

Six months

ended

ended

30 Jun 2019

30 Jun 2018

Note

$m

$m

Trading fees and trading tariffs

4

2,940

3,334

Stock Exchange listing fees

847

855

Clearing and settlement fees

1,655

1,747

Depository, custody and nominee services fees

575

518

Market data fees

461

443

Other revenue

577

488

REVENUE

7,055

7,385

Investment income

2,142

1,300

Interest rebates to Participants

(623)

(505)

Net investment income

5

1,519

795

Sundry income

4

14

REVENUE AND OTHER INCOME

8,578

8,194

OPERATING EXPENSES

Staff costs and related expenses

6

(1,328)

(1,205)

Information technology and computer maintenance expenses

(278)

(241)

Premises expenses

(64)

(202)

Product marketing and promotion expenses

(29)

(22)

Professional fees

(37)

(42)

Other operating expenses

(217)

(206)

(1,953)

(1,918)

EBITDA*

6,625

6,276

Depreciation and amortisation

(495)

(378)

OPERATING PROFIT

6,130

5,898

Finance costs

7

(86)

(55)

Share of profits less losses of joint ventures

6

4

PROFIT BEFORE TAXATION

6,050

5,847

TAXATION

8

(847)

(822)

PROFIT FOR THE PERIOD

5,203

5,025

PROFIT/(LOSS) ATTRIBUTABLE TO:

- Shareholders of HKEX

5,205

5,041

- Non-controlling interests

(2)

(16)

PROFIT FOR THE PERIOD

5,203

5,025

Basic earnings per share

9(a)

$4.16

$4.07

Diluted earnings per share

9(b)

$4.15

$4.06

  • EBITDA represents earnings before interest expenses and other finance costs, taxation, depreciation and amortisation. It excludes the Group's share of results of the joint ventures.

2

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)

(Financial figures are expressed in Hong Kong Dollar)

Six months

Six months

ended

ended

30 Jun 2019

30 Jun 2018

$m

$m

PROFIT FOR THE PERIOD

5,203

5,025

OTHER COMPREHENSIVE INCOME

Items that may be reclassified subsequently to profit or loss:

Currency translation differences of foreign subsidiaries

(35)

67

Cash flow hedges

(2)

(3)

Changes in fair value of financial assets measured at

fair value through other comprehensive income

3

(3)

OTHER COMPREHENSIVE INCOME

(34)

61

TOTAL COMPREHENSIVE INCOME

5,169

5,086

TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO:

- Shareholders of HKEX

5,168

5,100

- Non-controlling interests

1

(14)

TOTAL COMPREHENSIVE INCOME

5,169

5,086

3

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (UNAUDITED)

(Financial figures are expressed in Hong Kong Dollar)

At 30 Jun 2019

At 31 Dec 2018

Current

Non-current

Total

Current

Non-current

Total

Note

$m

$m

$m

$m

$m

$m

ASSETS

Cash and cash equivalents

11

114,532

-

114,532

121,196

-

121,196

Financial assets measured at fair value

through profit or loss

11

48,623

50

48,673

61,004

-

61,004

Financial assets measured at fair value

through other comprehensive income

11

4,247

-

4,247

3,755

-

3,755

Financial assets measured at amortised cost

11

41,502

398

41,900

31,487

398

31,885

Accounts receivable, prepayments and deposits

12

14,038

21

14,059

18,341

21

18,362

Interests in joint ventures

-

69

69

-

63

63

Goodwill and other intangible assets

-

18,193

18,193

-

18,019

18,019

Fixed assets

-

1,512

1,512

-

1,625

1,625

Right-of-use assets

13

-

2,328

2,328

-

-

-

Lease premium for land

-

20

20

-

20

20

Deferred tax assets

-

20

20

-

19

19

Total assets

222,942

22,611

245,553

235,783

20,165

255,948

LIABILITIES AND EQUITY

Liabilities

Financial liabilities at fair value through profit or loss

14

39,439

-

39,439

53,915

-

53,915

Margin deposits, Mainland security and settlement

deposits, and cash collateral from Clearing

Participants

15

134,127

-

134,127

123,728

-

123,728

Accounts payable, accruals and other liabilities

16

9,081

-

9,081

18,316

53

18,369

Deferred revenue

672

411

1,083

1,000

418

1,418

Taxation payable

1,202

-

1,202

678

-

678

Other financial liabilities

65

-

65

59

-

59

Participants' contributions to Clearing House Funds

17

12,374

-

12,374

14,787

-

14,787

Lease liabilities

163

2,223

2,386

-

-

-

Borrowings

18

252

163

415

1,005

161

1,166

Provisions

103

102

205

93

89

182

Deferred tax liabilities

-

743

743

-

743

743

Total liabilities

197,478

3,642

201,120

213,581

1,464

215,045

Equity

Share capital

19

29,702

27,750

Shares held for Share Award Scheme

19

(681)

(682)

Employee share-based compensation reserve

20

318

218

Hedging and revaluation reserves

(5)

(6)

Exchange reserve

(122)

(84)

Designated reserves

21

547

523

Reserve relating to written put options to

non-controlling interests

(369)

(369)

Retained earnings

14,730

13,379

Equity attributable to shareholders of HKEX

44,120

40,729

Non-controlling interests

313

174

Total equity

44,433

40,903

Total liabilities and equity

245,553

255,948

Net current assets

25,464

22,202

4

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

(Financial figures are expressed in Hong Kong Dollar)

Attributable to shareholders of HKEX

Share capital

Employee

Reserve

and shares held

share-based

Hedging

relating to written

for Share Award

compensation

and

Designated

put options to

Non-

Scheme

reserve

revaluation

Exchange

reserves

non-controlling

Retained

controlling

Total

(note 19)

(note 20)

reserves

reserve

(note 21)

interests

earnings

Total

interests

equity

$m

$m

$m

$m

$m

$m

$m

$m

$m

$m

At 1 Jan 2019, as previously reported

27,068

218

(6)

(84)

523

(369)

13,379

40,729

174

40,903

Effect of adoption of HKFRS 16 (note 2)

-

-

-

-

-

-

(8)

(8)

-

(8)

At 1 Jan 2019, as restated

27,068

218

(6)

(84)

523

(369)

13,371

40,721

174

40,895

Profit for the period

-

-

-

-

-

-

5,205

5,205

(2)

5,203

Other comprehensive income

-

-

1

(38)

-

-

-

(37)

3

(34)

Total comprehensive income

-

-

1

(38)

-

-

5,205

5,168

1

5,169

Total transactions with shareholders of HKEX, recognised

directly in equity:

- 2018 second interim dividend at $3.07 per share

-

-

-

-

-

-

(3,830)

(3,830)

-

(3,830)

- Unclaimed HKEX dividends forfeited

-

-

-

-

-

-

8

8

-

8

- Shares issued in lieu of cash dividends

1,940

-

-

-

-

-

-

1,940

-

1,940

- Shares purchased for Share Award Scheme

(3)

-

-

-

-

-

-

(3)

-

(3)

- Vesting of shares of Share Award Scheme

16

(15)

-

-

-

-

(1)

-

-

-

- Employee share-based compensation benefits

-

115

-

-

-

-

-

115

-

115

- Tax relating to Share Award Scheme

-

-

-

-

-

-

1

1

-

1

- Non-controlling interests on acquisition of a subsidiary

(note 23)

-

-

-

-

-

-

-

-

138

138

- Transfer of reserves

-

-

-

-

24

-

(24)

-

-

-

1,953

100

-

-

24

-

(3,846)

(1,769)

138

(1,631)

At 30 Jun 2019

29,021

318

(5)

(122)

547

(369)

14,730

44,120

313

44,433

5

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Disclaimer

HKEx - Hong Kong Exchanges and Clearing Ltd. published this content on 14 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2019 09:51:01 UTC

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