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Futu Holdings Limited (Nasdaq: FUTU) is a leading technology company revolutionizing the investing experience through its fully digitalized brokerage and wealth management platform. The company operates primarily through its proprietary applications, Futubull and Moomoo, offering seamless access to trading services on mobile devices, tablets, and desktops.
Futu provides a comprehensive range of investment services, including trade execution, margin financing, and securities lending. Clients can trade a diverse array of securities such as stocks, warrants, options, and exchange-traded funds (ETFs) across multiple markets, including Hong Kong, Mainland China, Singapore, and the United States.
One of the key differentiators of Futu's platform is its robust integration of market data, news, and research, coupled with powerful analytical tools. These features empower users to make informed investment decisions efficiently. In addition to its advanced trading capabilities, Futu has embedded social media tools within its platforms, creating a vibrant ecosystem that connects users, investors, companies, analysts, media, and key opinion leaders.
Recent achievements underscore Futu's strategic growth and commitment to innovation. As of the fourth quarter of 2023, the company reported revenues of $303.8 million, marking a 4.1% year-over-year increase. For the full year 2023, revenues reached $1.281 billion with a net income of $585.1 million, representing a significant year-over-year growth of 31.4% and 45.9%, respectively.
Futu's international brand, Moomoo, has been pivotal in the company's global expansion. As of the end of 2023, Moomoo had over 21.64 million global users and 1.71 million paying clients. With a strong presence in countries like the US, Singapore, Australia, Japan, Canada, and Malaysia, Moomoo has received numerous accolades, such as the Best Stock Trading App award from FinTech Breakthrough in 2024.
The company continues to expand its global footprint, recently launching services in Malaysia under Moomoo MY, which attracted over 30,000 new clients within a week. Moomoo Singapore (Moomoo SG) also achieved profitability in Q4 2023, with significant growth in its high-net-worth segment. Moomoo US has enhanced its offerings with collaborations like the one with CBOE Global Markets to provide index options products.
Futu Holdings Limited remains committed to advancing the financial technology landscape, providing innovative, user-friendly tools and services that meet the diverse needs of modern investors.
On April 28, 2021, Futu announced that its subsidiary Moomoo will sponsor the live stream of the 2021 Berkshire Hathaway Shareholders Meeting, hosted by Yahoo Finance on May 1, 2021. Moomoo, which boasts over 13 million users, aims to connect its audience to insights from notable investors like Warren Buffett. The platform is also offering new users up to 4 free stocks with a $5,000 deposit. This initiative aligns with the growing demand for investment tools and financial information during the pandemic.
On April 24, 2021, Futu Holdings Limited (Nasdaq: FUTU) announced the completion of its American depositary shares (ADS) offering, raising approximately $1.42 billion from 10,925,000 ADSs priced at $130.00 each. This includes 1,425,000 ADSs sold via an underwriters' option. The proceeds will primarily fund margin financing, international expansion, and potential investments. The offering utilized the company's shelf registration statement filed with the SEC. BofA Securities and Haitong International Securities are the joint bookrunners.
Futu Holdings Limited (Nasdaq: FUTU) announced the pricing of its ADS Offering, selling 9,500,000 American depositary shares at US$130 each. The offer has a 30-day underwriter option for an additional 1,425,000 ADSs. Proceeds will primarily support margin financing, international expansion, new licenses, and potential acquisitions. The offering is done under the effective shelf registration statement with the SEC. The completion of the offering is not guaranteed.
Futu Holdings Limited (Nasdaq: FUTU) announced the offering of 9,500,000 American depositary shares (ADSs), each representing eight Class A shares. The company plans to grant underwriters a 30-day option to purchase an additional 1,425,000 ADSs. The net proceeds will primarily be used for margin financing, international expansion, new licenses, and acquisitions. The offering is made under a shelf registration statement filed with the SEC. There is no assurance that the offering will be completed.
Futu Holdings Limited (Nasdaq: FUTU) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the SEC. The report is available on the company's investor relations website. Shareholders can request a free copy of the report containing audited consolidated financial statements from the Investor Relations Department. Futu is an online brokerage and wealth management platform in China, focused on serving the affluent population, leveraging its digital platform, Futubull, for various trading services.
Futu Holdings Limited (Nasdaq: FUTU) reported significant growth in its fourth quarter and full year 2020 financial results. The company achieved a 281.6% increase in total revenues, reaching HK$1,186.4 million (US$153.0 million). Total client assets surged 227.3% year-over-year to HK$285.2 billion. Net income soared by 699.9% to HK$1,325.5 million (US$171.0 million). Notably, the total number of paying clients grew 160.5% to 516,721 and daily average revenue trades rose 339.9% year-over-year. The company’s robust expansion in trading volume and client services underpins its strong market position.
Futu Holdings Limited (NASDAQ: FUTU) will report its financial results for Q4 and full year 2020 on March 16, 2021, before U.S. markets open. An earnings conference call is scheduled for the same day at 7:30 AM ET, requiring pre-registration. The company is positioning itself to capture the growing affluent market in China through its digital brokerage platform, Futubull, which offers trade execution and margin financing. This announcement highlights Futu's ongoing commitment to enhancing the user experience through integrated applications and analytical tools.
Futu Holdings Limited (NASDAQ: FUTU) announced a significant investment where a leading global firm will purchase approximately 50 million Class A ordinary shares for around US$260 million in prepaid warrants. This transaction is pending customary closing conditions and is expected to finalize soon. The share issuance complies with Regulation S under the Securities Act, ensuring it is exempt from registration. Futu, a tech-driven online brokerage in China, aims to reshape the wealth management industry through its digital platform, Futu NiuNiu.
Futu Holdings Limited (NASDAQ: FUTU) reported impressive third-quarter results for 2020. Total revenues soared 272.1% year-over-year to HK$946.2 million (US$122.1 million), while total gross profit surged 314.1% to HK$764.1 million (US$98.6 million). Net income dramatically increased 18 times year-over-year, reaching HK$401.7 million (US$51.8 million). The company experienced robust growth in client metrics, with paying clients up 136.5% to 418,089 and total trading volume skyrocketing 381.1% to HK$1,014.7 billion. Strong demand for IPOs on its platform contributed significantly to these results.
Futu Holdings Limited (NASDAQ: FUTU) announced its stock's inclusion in the MSCI Hong Kong Small Cap Index, effective November 30, 2020. This index is known for measuring the performance of small cap stocks in Hong Kong and serves as a benchmark for global institutional investors. Futu Holdings specializes in providing a digitized brokerage platform targeting China's emerging affluent, offering services including trade execution and margin financing through its app, Futu NiuNiu, which integrates analytical tools and social media features.
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