HONG KONG EXCHANGES AND CLEARING LIMITED 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 (HKEX) 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.
The financial information relating to the years ended 31 December 2016 and 2015 included in this document do not constitute the statutory annual consolidated financial statements of HKEX for those years but is derived from those financial statements. Further information relating to these statutory financial statements required to be disclosed in accordance with section 436 of the Companies Ordinance is as follows:
HKEX has delivered the financial statements for the year ended 31 December 2015 to the Registrar of Companies as required by section 662(3) of, and Part 3 of Schedule 6 to, the Companies Ordinance and will deliver the financial statements for the year ended 31 December 2016 in due course.
HKEX's auditor has reported on the consolidated financial statements for both years. The auditor's reports were unqualified, did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying its reports, and did not contain a statement under sections 406(2), 407(2) or (3) of the Companies Ordinance.
（Incorporated in Hong Kong with limited liability）
（Stock Code: 388）
Consolidated Financial Statements For the year ended 31 December 2016At 27 February 2017, the board of directors of HKEX comprises 12 Independent Non-executive Directors, namely Mr CHOW Chung Kong (Chairman), Mr Apurv BAGRI, Mr CHAN Tze Ching, Ignatius, Mr Timothy George FRESHWATER, Ms FUNG Yuen Mei, Anita, Mr Rafael GIL-TIENDA, Mr John Barrie HARRISON, Dr HU Zuliu, Fred, Dr KWOK Chi Piu, Bill, Mr LEE Kwan Ho, Vincent Marshall, Mrs LEUNG KO May Yee, Margaret, and Mr John Mackay McCulloch WILLIAMSON, and one Executive Director, Mr LI Xiaojia, Charles, who is also HKEX's Chief Executive.
CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2016(Financial figures are expressed in Hong Kong Dollar)
Note | 2016 $m | 2015 $m | ||
Trading fees and trading tariff | 5(a) | 4,428 | 5,469 | |
Stock Exchange listing fees | 5(b) | 1,092 | 1,114 | |
Clearing and settlement fees | 2,358 | 3,118 | ||
Depository, custody and nominee services fees | 857 | 867 | ||
Market data fees | 816 | 803 | ||
Other revenue | 5(c) | 847 | 862 | |
REVENUE | 5 | 10,398 | 12,233 | |
Investment income | 826 | 702 | ||
Interest rebates to Participants | (130) | (24) | ||
Net investment income | 6 | 696 | 678 | |
Gain on disposal of a leasehold property | 7 | - | 445 | |
Sundry income | 8 | 22 | 19 | |
REVENUE AND OTHER INCOME | 4 | 11,116 | 13,375 | |
OPERATING EXPENSES | ||||
Staff costs and related expenses | 9 | (2,035) | (2,020) | |
Information technology and computer maintenance expenses | 10 | (500) | (517) | |
Premises expenses | (333) | (294) | ||
Product marketing and promotion expenses | (54) | (41) | ||
Legal and professional fees | (106) | (99) | ||
Other operating expenses: | ||||
Reversal of provision for impairment losses arising from Participants' default on market contracts | 11(a) | - | 77 | |
Others | 11(b) | (427) | (396) | |
(3,455) | (3,290) | |||
EBITDA | 4 | 7,661 | 10,085 | |
Depreciation and amortisation | (771) | (684) | ||
OPERATING PROFIT | 12 | 6,890 | 9,401 | |
Finance costs | 13 | (82) | (114) | |
Share of loss of a joint venture | (9) | (9) | ||
PROFIT BEFORE TAXATION | 4 | 6,799 | 9,278 | |
TAXATION | 16(a) | (1,058) | (1,347) | |
PROFIT FOR THE YEAR | 5,741 | 7,931 | ||
PROFIT/(LOSS) ATTRIBUTABLE TO: | ||||
Shareholders of HKEX | 40 | 5,769 | 7,956 | |
Non-controlling interests | 25(a)(i) | (28) | (25) | |
PROFIT FOR THE YEAR | 5,741 | 7,931 | ||
Basic earnings per share | 17(a) | $4.76 | $6.70 | |
Diluted earnings per share | 17(b) | $4.75 | $6.67 | |
The notes on pages 9 to 80 are an integral part of these consolidated financial statements. Details of dividends are set out in note 18 to the consolidated financial statements.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2016(Financial figures are expressed in Hong Kong Dollar)
Note | 2016 $m | 2015 $m | |
PROFIT FOR THE YEAR | 5,741 | 7,931 | |
OTHER COMPREHENSIVE INCOME | |||
Items that may be reclassified subsequently to profit or loss: | |||
Currency translation differences of foreign subsidiaries recorded in exchange reserve | 2(e)(iii) | (6) | (7) |
OTHER COMPREHENSIVE INCOME | (6) | (7) | |
TOTAL COMPREHENSIVE INCOME | 5,735 | 7,924 | |
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO: | |||
Shareholders of HKEX | 5,763 | 7,949 | |
Non-controlling interests | 25(a)(i) | (28) | (25) |
TOTAL COMPREHENSIVE INCOME | 5,735 | 7,924 | |
The notes on pages 9 to 80 are an integral part of these consolidated financial statements.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 31 DECEMBER 2016(Financial figures are expressed in Hong Kong Dollar)
At 31 Dec 2016 | At 31 Dec 2015 | |||||||
Note | Curren $m | t Non-current $m | Total $m | Current $m | Non-current $m | Total $m | ||
ASSETS | ||||||||
Cash and cash equivalents | 19, 20 | 115,723 | - | 115,723 | 110,890 | - | 110,890 | |
Financial assets measured at fair value through profit or loss | 19, 21 | 70,066 | - | 70,066 | 72,705 | - | 72,705 | |
Financial assets measured at amortised cost | 19, 22 | 29,093 | 74 | 29,167 | 19,439 | 57 | 19,496 | |
Accounts receivable, prepayments and deposits | 24 | 12,928 | 21 | 12,949 | 15,537 | 21 | 15,558 | |
Interest in a joint venture | 26 | - | 59 | 59 | - | 68 | 68 | |
Goodwill and other intangible assets | 27 | - | 17,812 | 17,812 | - | 17,872 | 17,872 | |
Fixed assets | 28 | - | 1,499 | 1,499 | - | 1,560 | 1,560 | |
Lease premium for land | - | 21 | 21 | - | 22 | 22 | ||
Deferred tax assets | 36(d) | - | 22 | 22 | - | 22 | 22 | |
Total assets | 227,810 | 19,508 | 247,318 | 218,571 | 19,622 | 238,193 | ||
LIABILITIES AND EQUITY | ||||||||
Liabilities | ||||||||
Financial liabilities at fair value through profit or loss | 29 | 61,627 | - | 61,627 | 64,486 | - | 64,486 | |
Margin deposits, Mainland security and settlement deposits, and cash collateral from Clearing Participants | 19, 30 | 126,846 | - | 126,846 | 115,213 | - | 115,213 | |
Accounts payable, accruals and other liabilities | 31 | 12,246 | 30 | 12,276 | 15,270 | 15 | 15,285 | |
Deferred revenue | 842 | - | 842 | 773 | - | 773 | ||
Taxation payable | 356 | - | 356 | 653 | - | 653 | ||
Other financial liabilities | 32 | 37 | - | 37 | 42 | - | 42 | |
Participants' contributions to Clearing House Funds | 19, 33 | 8,656 | - | 8,656 | 7,474 | - | 7,474 | |
Borrowings | 34 | - | 3,422 | 3,422 | - | 3,409 | 3,409 | |
Provisions | 35 | 78 | 81 | 159 | 65 | 70 | 135 | |
Deferred tax liabilities | 36(d) | - | 713 | 713 | - | 761 | 761 | |
Total liabilities | 210,688 | 4,246 | 214,934 | 203,976 | 4,255 | 208,231 | ||
HKEx - Hong Kong Exchanges and Clearing Ltd. published this content on 27 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 February 2017 09:32:18 UTC.
Original documenthttp://www.hkex.com.hk/eng/newsconsul/hkexnews/2017/Documents/1702272news.pdf
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