P/E Ratio Also known as the price-earnings ratio, it is calculated by dividing the market price per share by the earnings per share. Earnings per share are calculated using basic earnings per share (Basic EPS), which is the net income attributable to common shareholders divided by the weighted average number of common shares outstanding.
Note:

• When a company has stock splits, reverse splits, or bonus issues, the weighted average number of shares outstanding will change. There are two types of share changes: capital-related changes and non-capital-related changes. For capital changes, the weighted average number of shares must be calculated; for non-capital changes, it is not calculated.
• Since financial reports in the Hong Kong and US markets may be in non-reporting currencies, exchange rate conversions are necessary during calculations, and different exchange rates may lead to different results.
  
  
  P/B Ratio It is the ratio of the market price per share to the book value per share. The book value per share is calculated as the net assets attributable to common shareholders divided by the total number of common shares outstanding.
  Note:
  
  Since financial reports in the Hong Kong and US markets may be in non-reporting currencies, exchange rate conversions are necessary during calculations, and different exchange rates may lead to different results.
  

When the price of a stock or futures contract reaches the trigger price range, the Volatility Control Mechanism (VCM) is activated, initiating a 5-minute cooling-off period where trading is limited to within the specified price range. Normal trading resumes after the 5-minute period.

• Securities market: Reference price fluctuation exceeds ±10%
• Derivatives market: Reference price fluctuation exceeds ±5%
• Reference price: Last transaction price 5 minutes before

• Constituent stocks of the Hang Seng Index and Hang Seng China Enterprises Index (currently 81 stocks) and related index futures contracts (currently 8 contracts).

• Only applicable during the continuous trading session, excluding the first 15 minutes of the morning and afternoon sessions and the last 15 minutes of the afternoon session.

• During the 5-minute cooling-off period, trading prices are limited to the trigger price range, which is ±10%/±5% of the reference price (depending on the market).

• The Closing Auction Session (CAS) is divided into four stages from 16:00 to 16:10: reference price setting period (1 minute), order input period (5 minutes), no cancellation period (2 minutes), and random closing period (2 minutes).

• Reference price: Calculation and publication
• Order modification: Cannot input, cancel, or amend orders

• Price limit: ±5% of the reference price
• Order types: Auction order, auction limit order
• Order modification: Can input, cancel, and amend orders

• Price limit: Between the lowest ask price and highest bid price
• Order types: Auction order, auction limit order
• Order modification: Can input, cannot cancel or amend orders

• Price limit: Between the lowest ask price and highest bid price
• Order types: Auction order, auction limit order
• Order modification: Can input, cannot cancel or amend orders
• Note: Actual closing time is randomly decided by the system.

• Major index constituents: Constituent stocks of the Hang Seng Composite LargeCap Index and Hang Seng MidCap Index, and H shares corresponding to A shares.
• All exchange-traded funds.

• The securities list expands to include the constituent stocks of the Hang Seng Composite SmallCap Index.
• The second phase includes the applicable scope of the first phase.

The latest price of Hong Kong stocks is data directly provided by the exchange, with different calculation rules for different stages.

Opening Auction Stage

If there is a reference equilibrium price, the current price = reference equilibrium price (specified by the exchange)

If there is no reference equilibrium price, it equals the previous closing price

Continuous Trading Session

If the stock has transactions for the day, the current price is calculated as follows:

If the best bid price > the last transaction price, the current price = best bid price

If the best ask price < the last transaction price, the current price = best ask price

Otherwise, the current price = last transaction price

If the stock has no transactions for the day, the current price is calculated as follows:

If the best bid price > the previous closing price, the current price = best bid price

If the best ask price < the previous closing price, the current price = best ask price

Otherwise, the current price = previous closing price

Closing Auction Stage

If there is a reference equilibrium price, the current price = reference equilibrium price (specified by the exchange)

If there is no reference equilibrium price, the current price = auction reference price (specified by the exchange)

Note: Relatively inactive warrants and callable bull/bear contracts may also be affected by the prices of the best bid and ask, generating a current price.