Hong Kong Exchanges and Clearing Limited Logo

Hong Kong Exchanges and Clearing Limited

0388.HK

(2.0)
Stock Price

308,00 HKD

2.97% ROA

23.07% ROE

36.91x PER

Market Cap.

430.944.667.200,00 HKD

1.33% DER

2.43% Yield

60.45% NPM

Hong Kong Exchanges and Clearing Limited Stock Analysis

Hong Kong Exchanges and Clearing Limited Fundamental Analysis

Fundamental analysis in stock investing is like studying the foundation of a house before buying it. It involves looking at a company's financial health, like its earnings, assets, and debts, to determine if it's a good investment based on its fundamental strength and potential for growth.

Hong Kong Exchanges and Clearing Limited Fundamental Stock Analysis
# Analysis Rating
1 ROE

The stock's ROE exceeds expectations (23.45%), revealing strong profitability and efficient use of shareholders' equity, making it an attractive investment opportunity.

2 DER

The stock has a low debt to equity ratio (3%), which means it has a small amount of debt compared to the ownership it holds

3 Dividend

The company's consistent dividend distribution over the past five years reflects its dedication to providing shareholders with steady returns, making it an appealing choice for investors seeking income stability.

4 ROA

The stock's ROA (3.41%) shows that it's doing a pretty good job at making money from its assets, making it a solid choice to invest and earn steady profits.

5 Buffet Intrinsic Value

Based on Warren Buffett's formula, the company's stock appears undervalued (423), presenting an attractive investment chance with its intrinsic value surpassing the current market price.

6 PBV

The stock's elevated P/BV ratio (6.98x) raises concerns about its overvaluation, making it an imprudent choice for investors seeking value.

7 Revenue Growth

Regrettably, this company's revenue has shown no signs of growth over the past three years, suggesting limited potential for returns and making it a less appealing choice.

8 Net Profit Growth

Over the past five years, this company's net profit has failed to exhibit any growth, indicating a stagnant financial performance and making it a less favorable choice for potential investors.

9 Assets Growth

Company's revenue has stayed stagnant, showing no signs of improvement and making it a less favorable choice.

10 Graham Number

The Graham number calculation reveals that this company's stock price is potentially inflated, implying that it may not be a desirable investment option.

11 Dividend Growth

The company's dividend growth has remained flat for the past three years, offering no indication of improved returns and making it a less advantageous investment opportunity.

Hong Kong Exchanges and Clearing Limited Technical Analysis

Technical analysis in stock investing is like reading the patterns on a weather map to predict future weather conditions. It involves studying past stock price movements and trading volumes to make predictions about where a stock's price might go next, without necessarily looking at the company's financial health.

Hong Kong Exchanges and Clearing Limited Technical Stock Analysis
# Analysis Recommendation
1 Awesome Oscillator Buy
2 MACD Buy
3 RSI Hold
4 Stoch RSI Hold

Hong Kong Exchanges and Clearing Limited Price Chart

Financial Statements

Financial statements are like report cards for companies. They show how much money a company makes (income statement), what it owns and owes (balance sheet), and where it spends its money (cash flow statement), helping stock investors understand if a company is healthy and worth investing in.

Income Statements

An income statement for a company is like a scoreboard for its profits and losses. It shows how much money the company made (revenue) and how much it spent to make that money (expenses), helping stock investors see if a company is making a profit or not.

Revenue in stock investing is the total amount of money a company earns from its sales, and it's a key factor that investors consider to assess a company's financial performance and growth potential.

Hong Kong Exchanges and Clearing Limited Revenue
Year Revenue Growth
1999 1.814.977.000
2000 2.312.203.000 21.5%
2001 1.998.813.000 -15.68%
2002 1.808.090.000 -10.55%
2003 2.019.825.000 10.48%
2004 2.393.937.000 15.63%
2005 2.694.057.000 11.14%
2006 3.848.584.000 30%
2007 8.390.470.000 54.13%
2008 6.481.274.000 -29.46%
2009 6.414.086.000 -1.05%
2010 7.094.000.000 9.58%
2011 7.357.000.000 3.57%
2012 6.432.000.000 -14.38%
2013 8.131.000.000 20.9%
2014 9.127.000.000 10.91%
2015 12.233.000.000 25.39%
2016 10.398.000.000 -17.65%
2017 11.574.000.000 10.16%
2018 14.252.000.000 18.79%
2019 13.565.000.000 -5.06%
2020 16.835.000.000 19.42%
2021 19.471.000.000 13.54%
2022 16.934.000.000 -14.98%
2023 15.348.000.000 -10.33%
2023 20.396.000.000 24.75%
2024 21.680.000.000 5.92%

Research and Development Expenses are the costs a company incurs to create and improve its products or services, which can be important for investors to evaluate a company's innovation and potential for future growth.

Hong Kong Exchanges and Clearing Limited Research and Development Expenses
Year Research and Development Expenses Growth
1999 0
2000 0 0%
2001 0 0%
2002 0 0%
2003 0 0%
2004 0 0%
2005 0 0%
2006 0 0%
2007 0 0%
2008 0 0%
2009 0 0%
2010 0 0%
2011 0 0%
2012 0 0%
2013 0 0%
2014 0 0%
2015 0 0%
2016 1 0%
2017 1 0%
2018 1 0%
2019 1 0%
2020 1 0%
2021 1 0%
2022 1 0%
2023 0 0%
2023 1 0%
2024 0 0%

General and Administrative Expenses are the costs a company incurs to run its day-to-day operations, such as office rent, salaries, and utilities, which investors consider to understand a company's overall efficiency and management effectiveness.

Hong Kong Exchanges and Clearing Limited General and Administrative Expenses
Year General and Administrative Expenses Growth
1999 0
2000 0 0%
2001 0 0%
2002 0 0%
2003 0 0%
2004 0 0%
2005 0 0%
2006 383.264.000 100%
2007 0 0%
2008 457.604.000 100%
2009 527.737.000 13.29%
2010 535.000.000 1.36%
2011 606.000.000 11.72%
2012 67.000.000 -804.48%
2013 170.000.000 60.59%
2014 200.000.000 15%
2015 128.000.000 -56.25%
2016 131.000.000 2.29%
2017 104.000.000 -25.96%
2018 160.000.000 35%
2019 148.000.000 -8.11%
2020 174.000.000 14.94%
2021 180.000.000 3.33%
2022 302.000.000 40.4%
2023 244.000.000 -23.77%
2023 313.000.000 22.04%
2024 0 0%

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure that helps stock investors analyze a company's profitability by looking at its earnings without considering certain expenses. This helps to get a clearer picture of the company's financial performance and its ability to generate cash flow.

Hong Kong Exchanges and Clearing Limited EBITDA
Year EBITDA Growth
1999 707.356.000
2000 1.162.140.000 39.13%
2001 975.115.000 -19.18%
2002 806.572.000 -20.9%
2003 981.172.000 17.8%
2004 1.421.041.000 30.95%
2005 1.699.570.000 16.39%
2006 3.045.963.000 44.2%
2007 7.058.049.000 56.84%
2008 6.259.015.000 -12.77%
2009 5.696.024.000 -9.88%
2010 6.111.000.000 6.79%
2011 6.187.000.000 1.23%
2012 4.892.000.000 -26.47%
2013 5.755.000.000 15%
2014 6.700.000.000 14.1%
2015 9.532.000.000 29.71%
2016 7.683.000.000 -24.07%
2017 9.492.000.000 19.06%
2018 12.921.000.000 26.54%
2019 12.714.000.000 -1.63%
2020 14.534.000.000 12.52%
2021 15.834.000.000 8.21%
2022 16.011.000.000 1.11%
2023 10.076.000.000 -58.9%
2023 14.949.000.000 32.6%
2024 16.096.000.000 7.13%

Gross profit is the money a company makes from selling its products or services after subtracting the cost of producing or providing them, and it is an important measure for investors to understand a company's profitability.

Hong Kong Exchanges and Clearing Limited Gross Profit
Year Gross Profit Growth
1999 1.814.977.000
2000 2.312.203.000 21.5%
2001 1.998.813.000 -15.68%
2002 1.808.090.000 -10.55%
2003 2.019.825.000 10.48%
2004 2.393.937.000 15.63%
2005 2.694.057.000 11.14%
2006 3.848.584.000 30%
2007 8.390.470.000 54.13%
2008 6.481.274.000 -29.46%
2009 6.414.086.000 -1.05%
2010 7.094.000.000 9.58%
2011 7.357.000.000 3.57%
2012 4.955.000.000 -48.48%
2013 6.087.000.000 18.6%
2014 6.901.000.000 11.8%
2015 9.696.000.000 28.83%
2016 7.863.000.000 -23.31%
2017 8.868.000.000 11.33%
2018 11.204.000.000 20.85%
2019 10.282.000.000 -8.97%
2020 13.123.000.000 21.65%
2021 15.656.000.000 16.18%
2022 13.298.000.000 -17.73%
2023 10.748.000.000 -23.73%
2023 17.892.000.000 39.93%
2024 19.080.000.000 6.23%

Net income in stock investing is like the money a company actually gets to keep as profit after paying all its bills, and it's an important measure to understand how well a company is doing financially.

Hong Kong Exchanges and Clearing Limited Net Profit
Year Net Profit Growth
1999 520.666.000
2000 878.889.000 40.76%
2001 740.426.000 -18.7%
2002 592.968.000 -24.87%
2003 691.765.000 14.28%
2004 1.056.884.000 34.55%
2005 1.339.548.000 21.1%
2006 2.518.569.000 46.81%
2007 6.169.278.000 59.18%
2008 5.128.924.000 -20.28%
2009 4.704.044.000 -9.03%
2010 5.037.000.000 6.61%
2011 5.093.000.000 1.1%
2012 4.084.000.000 -24.71%
2013 4.552.000.000 10.28%
2014 5.165.000.000 11.87%
2015 7.956.000.000 35.08%
2016 5.769.000.000 -37.91%
2017 7.404.000.000 22.08%
2018 9.312.000.000 20.49%
2019 9.391.000.000 0.84%
2020 11.505.000.000 18.37%
2021 12.535.000.000 8.22%
2022 10.078.000.000 -24.38%
2023 11.812.000.000 14.68%
2023 11.862.000.000 0.42%
2024 12.620.000.000 6.01%

EPS, or earnings per share, is a measure that shows how much profit a company has earned for each outstanding share of its stock, and it is important for stock investors as it helps understand the profitability of a company and compare it with other companies in the market.

Hong Kong Exchanges and Clearing Limited Earning per Share (EPS)
Year Earning per Share (EPS) Growth
1999 1
2000 1 0%
2001 1 0%
2002 1 0%
2003 1 0%
2004 1 100%
2005 1 0%
2006 2 50%
2007 6 60%
2008 5 -25%
2009 4 0%
2010 5 0%
2011 5 0%
2012 4 -33.33%
2013 4 0%
2014 4 25%
2015 7 33.33%
2016 5 -50%
2017 6 33.33%
2018 8 14.29%
2019 7 0%
2020 9 22.22%
2021 10 0%
2022 8 -28.57%
2023 9 22.22%
2023 9 0%
2024 10 10%

Cashflow Statements

Cashflow statements show the movement of money in and out of a company, helping stock investors understand how much money a company makes and spends. By examining cashflow statements, investors can assess if a company is generating enough cash to pay its bills, invest in growth, and provide returns to stockholders.

Free cash flow is the leftover cash that a company generates after covering its operating expenses and capital expenditures, which is important for stock investors as it shows how much money a company has available to invest in growth, pay dividends, or reduce debt.

Hong Kong Exchanges and Clearing Limited Free Cashflow
Year Free Cashflow Growth
1999 457.001.000
2000 135.613.000 -236.99%
2001 340.124.000 60.13%
2002 -257.218.000 232.23%
2003 1.357.111.000 118.95%
2004 1.792.976.000 24.31%
2005 1.337.818.000 -34.02%
2006 2.805.199.000 52.31%
2007 7.575.457.000 62.97%
2008 4.827.937.000 -56.91%
2009 4.326.515.000 -11.59%
2010 4.906.000.000 11.81%
2011 4.817.000.000 -1.85%
2012 5.449.000.000 11.6%
2013 4.191.000.000 -30.02%
2014 4.008.000.000 -4.57%
2015 7.611.000.000 47.34%
2016 2.843.000.000 -167.71%
2017 6.725.000.000 57.72%
2018 8.620.000.000 21.98%
2019 8.971.000.000 3.91%
2020 13.418.000.000 33.14%
2021 11.270.000.000 -19.06%
2022 13.672.000.000 17.57%
2023 11.012.000.000 -24.16%
2023 0 0%
2024 0 0%

Operating cash flow represents the cash generated or consumed by a company's day-to-day operations, excluding external investing or financing activities, and is crucial for stock investors as it shows how much cash a company is generating from its core business operations.

Hong Kong Exchanges and Clearing Limited Operating Cashflow
Year Operating Cashflow Growth
1999 684.061.000
2000 444.878.000 -53.76%
2001 603.263.000 26.25%
2002 -126.485.000 576.94%
2003 1.408.746.000 108.98%
2004 1.816.353.000 22.44%
2005 1.399.898.000 -29.75%
2006 2.865.468.000 51.15%
2007 7.644.184.000 62.51%
2008 5.049.315.000 -51.39%
2009 4.373.998.000 -15.44%
2010 4.986.000.000 12.27%
2011 5.273.000.000 5.44%
2012 6.491.000.000 18.76%
2013 4.988.000.000 -30.13%
2014 4.673.000.000 -6.74%
2015 8.321.000.000 43.84%
2016 3.463.000.000 -140.28%
2017 7.413.000.000 53.28%
2018 9.480.000.000 21.8%
2019 10.062.000.000 5.78%
2020 14.769.000.000 31.87%
2021 12.340.000.000 -19.68%
2022 14.956.000.000 17.49%
2023 12.398.000.000 -20.63%
2023 0 0%
2024 0 0%

Capex, short for capital expenditures, refers to the money a company spends on acquiring or upgrading tangible assets like buildings, equipment, or technology, which is important for stock investors as it indicates how much a company is investing in its infrastructure to support future growth and profitability.

Hong Kong Exchanges and Clearing Limited Capital Expenditure
Year Capital Expenditure Growth
1999 227.060.000
2000 309.265.000 26.58%
2001 263.139.000 -17.53%
2002 130.733.000 -101.28%
2003 51.635.000 -153.19%
2004 23.377.000 -120.88%
2005 62.080.000 62.34%
2006 60.269.000 -3%
2007 68.727.000 12.31%
2008 221.378.000 68.95%
2009 47.483.000 -366.23%
2010 80.000.000 40.65%
2011 456.000.000 82.46%
2012 1.042.000.000 56.24%
2013 797.000.000 -30.74%
2014 665.000.000 -19.85%
2015 710.000.000 6.34%
2016 620.000.000 -14.52%
2017 688.000.000 9.88%
2018 860.000.000 20%
2019 1.091.000.000 21.17%
2020 1.351.000.000 19.25%
2021 1.070.000.000 -26.26%
2022 1.284.000.000 16.67%
2023 1.386.000.000 7.36%
2023 0 0%
2024 0 0%

Balance Sheet

Balance sheets provide a snapshot of a company's financial health and its assets (such as cash, inventory, and property) and liabilities (like debts and obligations) at a specific point in time. For stock investors, balance sheets help assess the company's overall worth and evaluate its ability to meet financial obligations and support future growth.

Equity refers to the ownership interest or stake that shareholders have in a company, representing their claim on its assets and earnings after all debts and liabilities are paid.

Hong Kong Exchanges and Clearing Limited Equity
Year Equity Growth
1999 -12.507.000
2000 4.300.576.000 100.29%
2001 4.326.198.000 0.59%
2002 4.616.740.000 6.29%
2003 4.480.763.000 -3.03%
2004 4.052.143.000 -10.58%
2005 4.367.489.000 7.22%
2006 5.257.586.000 16.93%
2007 8.377.348.000 37.24%
2008 7.295.322.000 -14.83%
2009 8.027.326.000 9.12%
2010 8.677.000.000 7.49%
2011 9.159.000.000 5.26%
2012 17.764.000.000 48.44%
2013 20.518.000.000 13.42%
2014 21.359.000.000 3.94%
2015 29.962.000.000 28.71%
2016 32.384.000.000 7.48%
2017 37.375.000.000 13.35%
2018 40.903.000.000 8.63%
2019 44.501.000.000 8.09%
2020 49.236.000.000 9.62%
2021 49.910.000.000 1.35%
2022 50.099.000.000 0.38%
2023 49.338.000.000 -1.54%
2023 51.796.000.000 4.75%
2024 53.220.000.000 2.68%

Assets represent the valuable resources that a company owns, such as cash, inventory, property, and equipment, and understanding a company's assets helps investors assess its value and potential for generating future profits.

Hong Kong Exchanges and Clearing Limited Assets
Year Assets Growth
1999 31.000
2000 4.573.588.000 100%
2001 4.353.977.000 -5.04%
2002 4.714.020.000 7.64%
2003 4.626.229.000 -1.9%
2004 21.443.404.000 78.43%
2005 22.960.933.000 6.61%
2006 40.453.298.000 43.24%
2007 87.944.189.000 54%
2008 62.823.921.000 -39.99%
2009 45.332.002.000 -38.59%
2010 47.884.000.000 5.33%
2011 54.028.000.000 11.37%
2012 80.837.000.000 33.16%
2013 85.943.000.000 5.94%
2014 251.860.000.000 65.88%
2015 238.193.000.000 -5.74%
2016 247.318.000.000 3.69%
2017 317.604.000.000 22.13%
2018 255.948.000.000 -24.09%
2019 279.051.000.000 8.28%
2020 399.106.000.000 30.08%
2021 399.304.000.000 0.05%
2022 406.051.000.000 1.66%
2023 342.482.000.000 -18.56%
2023 341.179.000.000 -0.38%
2024 393.396.000.000 13.27%

Liabilities refer to the financial obligations or debts that a company owes to creditors or external parties, and understanding a company's liabilities is important for investors as it helps assess the company's financial risk and ability to meet its obligations.

Hong Kong Exchanges and Clearing Limited Liabilities
Year Liabilities Growth
1999 12.538.000
2000 273.012.000 95.41%
2001 27.779.000 -882.8%
2002 97.280.000 71.44%
2003 145.466.000 33.13%
2004 17.391.261.000 99.16%
2005 18.593.444.000 6.47%
2006 35.195.712.000 47.17%
2007 79.566.841.000 55.77%
2008 55.528.599.000 -43.29%
2009 37.304.676.000 -48.85%
2010 39.207.000.000 4.85%
2011 44.869.000.000 12.62%
2012 63.073.000.000 28.86%
2013 65.425.000.000 3.59%
2014 230.501.000.000 71.62%
2015 208.231.000.000 -10.69%
2016 214.934.000.000 3.12%
2017 280.229.000.000 23.3%
2018 215.045.000.000 -30.31%
2019 234.550.000.000 8.32%
2020 349.870.000.000 32.96%
2021 349.394.000.000 -0.14%
2022 355.952.000.000 1.84%
2023 293.144.000.000 -21.43%
2023 289.383.000.000 -1.3%
2024 340.176.000.000 14.93%

Hong Kong Exchanges and Clearing Limited Financial Ratio (TTM)

Valuation Metrics

Revenue per Share
15.27
Net Income per Share
9.23
Price to Earning Ratio
36.91x
Price To Sales Ratio
22.31x
POCF Ratio
300.94
PFCF Ratio
300.94
Price to Book Ratio
8.18
EV to Sales
14.44
EV Over EBITDA
20.61
EV to Operating CashFlow
194.71
EV to FreeCashFlow
194.71
Earnings Yield
0.03
FreeCashFlow Yield
0
Market Cap
430,94 Bil.
Enterprise Value
278,82 Bil.
Graham Number
93.05
Graham NetNet
-57.45

Income Statement Metrics

Net Income per Share
9.23
Income Quality
0.13
ROE
0.23
Return On Assets
0.03
Return On Capital Employed
0.03
Net Income per EBT
0.89
EBT Per Ebit
0.99
Ebit per Revenue
0.69
Effective Tax Rate
0.1

Margins

Sales, General, & Administrative to Revenue
0.01
Research & Developement to Revenue
0
Stock Based Compensation to Revenue
0.02
Gross Profit Margin
0.84
Operating Profit Margin
0.69
Pretax Profit Margin
0.68
Net Profit Margin
0.6

Dividends

Dividend Yield
0.02
Dividend Yield %
2.43
Payout Ratio
0
Dividend Per Share
8.27

Operating Metrics

Operating Cashflow per Share
1.13
Free CashFlow per Share
1.13
Capex to Operating CashFlow
0
Capex to Revenue
0
Capex to Depreciation
0
Return on Invested Capital
0.22
Return on Tangible Assets
0.03
Days Sales Outstanding
504.4
Days Payables Outstanding
0
Days of Inventory on Hand
0
Receivables Turnover
0.72
Payables Turnover
0
Inventory Turnover
0
Capex per Share
0

Balance Sheet

Cash per Share
195,73
Book Value per Share
42,09
Tangible Book Value per Share
42.09
Shareholders Equity per Share
41.68
Interest Debt per Share
0.63
Debt to Equity
0.01
Debt to Assets
0
Net Debt to EBITDA
-11.25
Current Ratio
0
Tangible Asset Value
53,22 Bil.
Net Current Asset Value
-340,18 Bil.
Invested Capital
2120000000
Working Capital
-0,63 Bil.
Intangibles to Total Assets
0
Average Receivables
28,46 Bil.
Average Payables
10,53 Bil.
Average Inventory
-3339000000
Debt to Market Cap
0

Dividends

Dividends in stock investing are like rewards that companies give to their shareholders. They are a portion of the company's profits distributed to investors, typically in the form of cash payments, as a way for them to share in the company's success.

Hong Kong Exchanges and Clearing Limited Dividends
Year Dividends Growth
2000 0
2001 0 0%
2002 0 0%
2003 1 0%
2004 2 100%
2005 1 0%
2006 2 100%
2007 3 50%
2008 6 60%
2009 4 -66.67%
2010 4 0%
2011 4 25%
2012 4 -33.33%
2013 3 0%
2014 4 0%
2015 5 40%
2016 5 0%
2017 5 -25%
2018 6 33.33%
2019 7 0%
2020 7 0%
2021 9 33.33%
2022 8 -28.57%
2023 8 12.5%
2024 8 0%

Hong Kong Exchanges and Clearing Limited Profile

About Hong Kong Exchanges and Clearing Limited

Hong Kong Exchanges and Clearing Limited, together with its subsidiaries, owns and operates stock exchanges and futures exchanges, and related clearing houses in Hong Kong, Mainland China, and the United Kingdom. It operates through five segments: Cash, Equity and Financial Derivatives, Commodities, Post Trade, and Technology. The Cash segment covers various equity products traded on the cash market platforms of the Stock Exchange of Hong Kong Limited, the Shanghai Stock Exchange, and the Shenzhen Stock Exchange; sale of market data relating to the products; and other related activities. The Equity and Financial Derivatives segment provides and maintains trading platforms for a range of equity and financial derivative products, such as stock and equity index futures and options, derivative warrants, and callable bull/bear contracts and warrants, as well as sells related market data. The Commodities segment operates an exchange for the trading of base, ferrous, and precious metals futures and options contracts in the United Kingdom; and operates Qianhai Mercantile Exchange Co., Ltd., a commodity trading platform in the Mainland. This segment also covers commodities contracts traded on Futures Exchange. The Post Trade segment operates clearing houses that are responsible for clearing, settlement, depository, custodian, and nominee services. The Technology segment offers various services that provide users with access to the platform and infrastructure. The company serves issuers and investors. Hong Kong Exchanges and Clearing Limited is based in Central, Hong Kong.

CEO
Ms. Yiting Chan
Employee
2.441
Address
Two Exchange Square
Central,

Hong Kong Exchanges and Clearing Limited Executives & BODs

Hong Kong Exchanges and Clearing Limited Executives & BODs
# Name Age
1 Ms. Victoria Cowley
Group Chief Communications Officer
70
2 Mr. Koon Ying Chow
Group General Counsel
70
3 Mr. John Hsu
MD & Group Chief Technology Officer
70
4 Mr. Chung Kwong Leung
Group Chief Information Officer
70
5 Mr. Richard Alan Wise
Group Chief Risk Officer
70
6 Ms. Kit Shuen Ng
Head of Listing
70
7 Ms. Lilian Cheng
Group Chief Compliance Officer
70
8 Ms. Yiting Chan
Chief Executive Officer & Ex-Officio Director
70
9 Ms. Bik Yun Lau
Co-Chief Operating Officer & Group Chief Financial Officer
70
10 Mr. Ka Yan Yiu
Deputy Chief Executive Officer, Co-Chief Operating Officer and Co-Head of Markets & Head of Equities
70

Hong Kong Exchanges and Clearing Limited Competitors