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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.
Futu Holdings Limited (Nasdaq: FUTU) reported robust performance in Q2 2022, with total revenues of US$222.6 million and non-GAAP adjusted net income of US$87.7 million. User growth for its platforms, Moomoo and Futubull, surged 20% year-over-year to 18.6 million. Notable metrics include a 30.5% increase in registered clients and a 38.6% rise in paying clients, totaling 1.4 million. Client assets reached US$55.3 billion, and client retention soared to nearly 99%. The company also expanded its regulatory licenses, enhancing its competitive edge in key markets.
Futu Holdings Limited (Nasdaq: FUTU) reported its Q2 2022 financial results, showing a 10.8% increase in total revenues to HK$1,746.7 million (US$222.6 million). The company achieved a 20.2% net income growth to HK$641.7 million (US$81.8 million). Notably, paying clients grew by 38.6% year-over-year, reaching 1,387,146, while total registered clients increased 30.5% to 3,021,790. However, total client assets fell 13.8% to HK$433.6 billion. The company also repurchased 6.5 million ADSs, amounting to US$200 million.
Futu Holdings Limited (Nasdaq: FUTU) will report its financial results for Q2 2022 on August 30, 2022, before U.S. markets open. An earnings conference call will be held at 7:30 AM ET on the same day. Participants must pre-register to access the call and will receive dial-in details via email. Futu, a tech-driven online brokerage, offers digitalized investment services primarily to the emerging affluent population, utilizing platforms like Futubull and moomoo for trading and wealth management.
Futu Holdings Limited (Nasdaq: FUTU) announced its long-term issuer credit rating of "BBB-" has been reaffirmed by S&P with a stable outlook. This maintains Futu's recognition as the first Hong Kong brokerage to achieve this rating. S&P highlighted Futu's strong capitalization, risk controls, and international expansion strategy, expecting continued good loan quality. Futu holds about 3% of Hong Kong's brokerage market and has seen significant user growth in international markets like the U.S. and Singapore. Overall, the company is strategically diversifying its offerings and expanding its global presence.
Futu Holdings Limited (Nasdaq: FUTU) announced that S&P Global Ratings reaffirmed its long-term issuer credit rating at ‘BBB-’ with a stable outlook. According to S&P, Futu is well-positioned in the Hong Kong retail brokerage market due to strong client acquisition and retention. The company is diversifying its services, moving into wealth management and enterprise services, to broaden its revenue sources. S&P noted Futu's adequate funding and strong risk-adjusted capital, anticipating continued capital adequacy over the next two years.
Futu Holdings Limited (Nasdaq: FUTU) released a whitepaper analyzing investor behavior amid market volatility in 2022. Key findings indicate that Gen Z investors are the most risk-averse, with equities investment declining by 8.6%, while Gen X investors remain the highest risk-takers with minimal declines. Female investors are diversifying portfolios more than males, allocating more to bonds. Overall, daily trading frequency increased, yet stock weighting decreased across regions, with significant shifts in U.S. investors opting for more fund products.
Futu Singapore Pte. Ltd. has officially become the first digital brokerage to receive full memberships for trading and clearing on the Singapore Exchange (SGX). The announcement took place during a gong-strike ceremony marking its membership in both SGX Derivatives Trading Limited and SGX Securities Trading Limited. As of June 2022, Futu SG has garnered over 100,000 paying clients in under three months, representing 21.5% of Singapore's 20 to 70-year-old permanent resident population. The wealth management segment also experienced a surge, with assets under management increasing by 93% and client numbers rising by 95% quarter-over-quarter.
Futu Holdings Limited (Nasdaq: FUTU) reported strong performance for the quarter ending March 31, 2022, achieving US$209.5 million in total revenues and US$79.4 million in non-GAAP adjusted net income. The company has seen a 27.1% year-over-year increase in users, totaling 18.1 million, and a significant 67.9% increase in paying clients, reaching 1,326,163. Futu's wealth management client assets surged 59.1% year-over-year to HK$20.9 billion, indicating robust growth despite market volatility.
Futu Holdings Limited (Nasdaq: FUTU) reported its first-quarter financial results for 2022, revealing a 25.6% decline in total revenues to HK$1,641.0 million (US$209.5 million) and a 50.8% drop in net income to HK$571.8 million (US$73.0 million). Despite these decreases, the company noted a 67.9% year-over-year increase in paying clients, reaching 1.3 million. Total trading volume fell 41.0% year-over-year to HK$1.3 trillion, while daily average client assets showed slight growth with a 0.9% increase. The quarterly client asset decline was attributed to market losses.
Futu Holdings Limited (Nasdaq: FUTU) announced its first quarter 2022 financial results will be released on June 6, 2022, before U.S. markets open. A conference call to discuss these results will take place on the same day at 7:30 AM ET. Participants must pre-register to gain access to the call. Futu is a tech-driven online brokerage focused on providing a digital investing experience, serving the emerging affluent demographic. It offers services through its platforms, Futubull and moomoo, facilitating trading and wealth management.
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