HKEX earnings
HKEX's next results are expected on November 6, 2026. Watch Orion's testing and participant certification, which matter more than a software completion date.
What has HKEX guided for Orion?
The clearest timetable concerns Orion, HKEX’s new derivatives platform. It targets technical readiness in 2027 and phased rollout during 2027–28. Longer trading hours are less certain because brokers, banks and customers must support them. HKEX is considering extending derivatives trading towards the US market close while weighing the effects on cash-market hours.
Has HKEX kept its promises?
Chan delivered the severe-weather trading commitment on a stated timetable. By contrast, the Orion cash and derivatives platforms were still described as ongoing projects in August 2026. Completed operational changes deserve credit, but unfinished infrastructure remains part of the performance test.
What is HKEX's recent revenue and profit trend?
Revenue, operating income and net income all increased year on year, and the first half also improved. The eight-quarter sequence shows a recovery with interruptions: revenue rose through September 2025, fell in December and then reached new highs in March and June 2026. The latest quarter was stronger sequentially as well as year on year, but the December decline shows that activity and income mix still matter.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7,137 | 6,843 | 6,000 | 6,711 | 5,538 | 5,496 | 5,144 | 4,140 |
| Operating income | 6,423 | 6,211 | 5,189 | 5,843 | 5,300 | 4,896 | 4,336 | 3,580 |
| Net income | 5,380 | 5,188 | 4,335 | 4,900 | 4,442 | 4,077 | 3,780 | 3,145 |
| EPS, diluted | 4.09 | 3.87 | 3.22 | 2.48 |
What this means. The earnings per share figures appear only every other period because the company does not publish separate quarterly figures for the missing periods.
What should investors watch in HKEX's next results?
The nearest checkpoints are the 6 November 2026 articles vote and the targeted 16 November electronic-shareholding launch. The vote addresses legal readiness; successful implementation addresses operational readiness. Existing listed securities will enter the electronic regime gradually, so launch begins a transition rather than completing one.
Orion offers a longer sequence. Development is expected to reach material completion in 2026, followed by technical readiness in 2027 and phased rollout in 2027–28. The roadmap targets post-trade migration in the first quarter of 2028 and trading migration in the second quarter, subject to approval and market readiness. Testing and participant certification matter more than a software completion date.