Hong Kong securities dealers and securities margin financiers reported HK$51.7 billion of aggregate net profit before tax in H1 2026, up from HK$42.8 billion in H2 2025. The comparison is half-on-half, not year-on-year, and includes licensed firms that also conduct other businesses.[1]
At a glance01
Income and activity mix
| Measure | H1 2026 | Comparison with H2 2025 |
|---|---|---|
| Aggregate net profit before tax | HK$51.7bn | +21%Source 1 |
| Transaction value | HK$149.0trn | +24%Source 1 |
| Trading commission and interest income | HK$45.4bn | +13%Source 1 |
| Asset-management-related fees | HK$24.4bn | −21%Source 1 |
| Virtual-asset dealing commission | HK$99.3m | HK$114.8m previouslySource 1 |
| SEHK participant net profit before tax | HK$23.7bn | +20%Source 1 |
Total income increased 4% while overheads and interest expense fell 2%, helping profit grow faster than revenue. The SFC attributes part of the asset-management fee decline to performance fees recognised in December 2025. Lower virtual-asset dealing commissions show that the aggregate gain did not extend to every product segment.[1]
At a glance02
Clients and margin lending at 30 June 2026
| Measure | Reported position |
|---|---|
| Active securities clients | 5.7 million; +10% versus 31 December 2025Source 1 |
| Top five dealers | About half of active clientsSource 1 |
| Outstanding margin loans | HK$276.3bn; +28% versus 31 December 2025Source 1 |
| Average collateral coverage | 4.7 timesSource 1 |
| Top 20 margin-finance providers | 87% of outstanding margin loansSource 1 |
At a glance03
SEHK participant pretax profit by category
| Category | H1 2026 net profit before tax | Change versus H2 2025 |
|---|---|---|
| A | HK$6.5bn | −5%Source 1 |
| B | HK$12.8bn | +37%Source 1 |
| C | HK$4.5bn | +24%Source 1 |
Sources & further reading
- Financial Review of the Securities Industry, half year ended 30 June 2026 Securities and Futures Commission of Hong Kong · Accessed 26 Oct 2026