Hong Kong Exchanges and Clearing (HKG:0388) saw a strong start to the year as it posted record profits and revenue in the first quarter, driven by increased turnover and new listings.

Net profit attributable to shareholders in the three months ended March 31 surged 37% year over year to HK$4.08 billion, or HK$3.23 per basic share, according to a Wednesday disclosure.

The figure was slightly above the HK$4 billion estimate of analysts polled by FactSet.

HKEX also logged its highest-ever quarterly revenue and other income, reaching HK$6.86 billion, marking a 32% increase from the same period last year.

In the first three months of 2025, the average daily turnover hit a record HK$243 billion, up 144% year over year.

A total of 17 companies debuted in Hong Kong in Q1 and raised a combined HK$18.7 billion, a near fourfold jump from HK$4.8 billion raised in the same period last year.

"The renewed global interest in China opportunities that picked up in the second half of 2024 continued to build momentum into 2025, boosted by exciting developments in artificial intelligence and innovation," HKEX CEO Bonnie Chan said in a statement.

Chan added that the growth momentum extended to the second quarter with a pipeline of 120 listing applications.