The Zhitong Finance App learned that J.P. Morgan Chase released a research report saying that the net profit of the Hong Kong Exchange (00388.HK) for the next quarter was 5.4 billion yuan, up 4% from quarter to quarter, up 21% year on year, 4% higher than the bank's expectations, mainly because revenue was supported by rising transaction fees. Listing fees also maintained momentum, with a year-on-year increase of 24%; net investment income increased quarterly, partly due to one-time valuation changes in unlisted equity investments; costs were in line with expectations; operating expenses rose 4% quarterly; and overall operating profit margin remained high at about 75% during the period. The company's profit per share was 4.26 yuan, up 4% from quarter to quarter and 21% year on year, which can support forecasting increases and revaluation. The bank maintained an “gain” rating on the Hong Kong Stock Exchange, with a target price of HK$520.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.