At noon on October 19, the Hong Kong Stock Exchange published a consultation document on the new listing rules for special technology companies, suggesting the establishment of new channels for special technology companies to list on the Hong Kong Stock Exchange The new rules will apply to the five special technology industries. Companies in: new generation information technology, advanced hardware, advanced materials, energy saving and new energy and environmental protection;
The main recommendations of the consultation paper include: Commercialization revenue threshold: A commercialized company is defined as a company that generated revenue from its niche technology business of at least HK$250 million in the most recent audited financial year. Minimum expected market capitalization at listing: HK$8 billion (commercial company) or HK$15 billion (non-commercial company). All applicants must have participated in research and development for at least three financial years prior to listing, and the research and development investment must account for at least 15% (commercial companies) or 50% (non-commercial companies) of the total operating costs.
At the same time, the Hong Kong Stock Exchange also released its third quarter financial report. Revenue and other income in the third quarter of 2022 was HK $4.318 billion, down 19% from the third quarter of 2021; Net profit attributable to shareholders was HK$2.263 billion, down 30% from the third quarter of 2021.
In the first three quarters of 2022, HKEx’s revenue and other income was HK$13.255 billion, down 18% from the record high recorded in the first three quarters of 2021; Net profit attributable to shareholders was HK$7.099 billion, down 28% from the first three quarters of 2021.
As of press time, the Hong Kong Stock Exchange was at HK$256, down 0.78%; it fell by 42.87% during the year.
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