HONG KONG, May 28, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Operational Highlights Total number of paying clients1 increased 23.5% year-over-year to 1,887,270 as of March 31, 2024.Total number of registered clients2 increased 15.4% year-over-year to 3,812,326 as of March 31, 2024.T ...

Investors interested in stocks from the Technology Services sector have probably already heard of Futu Holdings Limited Sponsored ADR (FUTU) and Cellebrite DI Ltd. (CLBT) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. ...

HONG KONG, May 15, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited ("Futu" or the "Company") (NASDAQ:FUTU), a leading tech-driven online brokerage and wealth management platform, today announced that it will report its financial results for the first quarter ended March 31, 2024, before U.S. markets open on May 28, 2024. Futu's management will hold an earnings conference call on Tuesday, May 28, 2023, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time). Please note that all partici ...

HONG KONG, May 15, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced that it will report its financial results for the first quarter ended March 31, 2024, before U.S. markets open on May 28, 2024. Futu's management will hold an earnings conference call on Tuesday, May 28, 2023, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time). Please note that all partic ...

HONG KONG, May 08, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited ("Futu" or the "Company") (NASDAQ:FUTU), a leading tech-driven online brokerage and wealth management platform, today announced that its moomoo app has reached one million downloads in Japan, according to data.ai. Moomoo officially launched its brokerage business in Japan in September 2023. It started offering U.S. stock trading in the same month, and subsequently launched Japanese stock trading in Japan in March 2024. Futu's wholly-owned sub ...

HONG KONG, April 25, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited ("Futu" or the "Company") (NASDAQ:FUTU), a leading tech-driven online brokerage and wealth management platform, today announced it filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission. The annual report can be accessed on the Company's investor relations website at ir.futuholdings.com. The Company will provide a copy of its annual report containing the audited consolida ...

Revenue and Financial Performance - Revenue from margin financing and securities lending businesses was HK$2,118.0 million, HK$2,088.3 million, and HK$2,807.4 million (US$359.4 million) in 2021, 2022, and 2023, representing 29.8%, 27.4%, and 28.1% of total revenue, respectively[92] - Interest income from bank deposits increased significantly from HK$197.4 million in 2021 to HK$2,482.9 million (US$317.9 million) in 2023, representing 2.8%, 13.0%, and 24.8% of total revenue in the respective years[92] - Total revenues increased from HK$7,115.3 million in 2021 to HK$10,008.4 million (US$1,281.3 million) in 2023[234] - Net income grew from HK$2,810.2 million in 2021 to HK$4,278.9 million (US$547.8 million) in 2023[234] - Futu Securities generated revenues of HK$7,749.1 million (US$992.1 million) in 2023, accounting for 77.4% of the company's total revenues[227] - The assets of Futu Securities amounted to HK$77.5 billion (US$9.9 billion) at the end of 2023, representing 79.8% of the company's total assets[227] - Futu Network and the Consolidated Affiliated Entities generated revenues of HK$31.7 million (US$4.0 million) in 2023, accounting for 0.3% of total revenues[227] - The total assets of Futu Network and the Consolidated Affiliated Entities amounted to HK$687.1 million (US$87.9 million) at the end of 2023, representing 0.7% of total assets[227] Loans and Advances - Outstanding loans and advances grew from HK$29.6 billion in 2021 to HK$32.5 billion (US$4.2 billion) in 2023, with an allowance for credit losses of HK$45.9 million (US$5.9 million) recorded as of December 31, 2023[94] - Receivables balance remained stable at HK$10.4 billion, HK$9.8 billion, and HK$10.1 billion (US$1.3 billion) in 2021, 2022, and 2023, respectively[94] Wealth Management and Product Distribution - Wealth management products distributed by the company involve risks such as default, interest, liquidity, market, counterparty, and fraud risks, which could negatively impact reputation and financial conditions[97] - Wealth management product distribution services generated client asset balances of HK$57.6 billion (US$7.4 billion) as of December 31, 2023, with 416,229 clients holding wealth management products[256] - The company partnered with 82 asset management companies and offered 169 fund products on Futubull and 135 fund products on moomoo in Singapore as of December 31, 2023[256] Technology and Infrastructure - The company relies on proprietary technology, and failure to maintain technological superiority or adapt to changing client demands could adversely affect results[99] - The company's information technology systems are vulnerable to disruptions from cyberattacks, natural disasters, and other events, which could harm business operations[101] - The company's internet-based business depends on the reliability of internet infrastructure, and any failure could significantly impact user and client retention[101] - Third-party software and infrastructure failures have caused disruptions, including system shutdowns and delayed trade executions, impacting user satisfaction and transaction volumes[103] - Increased traffic on online and mobile platforms could strain system capacity, leading to slower response times or failures, potentially harming the company's brand and reputation[103] - Dependence on third-party service providers for critical infrastructure and software poses risks, including potential disruptions, increased costs, and adverse effects on business operations[104] - External service providers supply key market data and technology, and any disruptions or inaccuracies in their services could harm the company's operations and reputation[106] - The company's distributed, cloud-based infrastructure ensures high stability and scalability, with modular architecture allowing for independent upgrades[292] - The company employs a multi-level protection mechanism, including data encryption and two-factor authentication, to secure client data and trading information[292] Regulatory and Compliance Risks - Regulatory scrutiny in the securities brokerage and wealth management industries, particularly in the U.S., could lead to new rules or requirements, impacting the company's business model and operations[114] - The company faces risks from evolving PRC laws and regulations, including potential violations due to changes in interpretation or enforcement, and the need for additional licenses or approvals[110] - Policy changes on investable assets could significantly reduce the company's addressable market, potentially slowing growth and impacting trading volume[117] - The company is subject to US Brokerage Regulations, Singapore Brokerage Regulations, and regulation by the Australian Securities and Investments Commission due to its expansion into these markets[139] - The company may face delisting from U.S. exchanges if the PCAOB is unable to inspect its auditor for two consecutive years under the HFCAA[179] - The company is required to comply with PRC regulations on internet content, including reporting suspicious content and undergoing security inspections, with non-compliance risking business shutdown[130] - The company has implemented internal control procedures to screen platform content, but there is no assurance of full compliance with PRC regulations at all times[130] - The company is subject to litigation, regulatory investigations, and potential penalties, which could harm its reputation and financial condition[132] - The company's risk management policies may not fully mitigate risks in volatile markets, potentially leading to significant losses[132] - The company may pursue strategic investments, acquisitions, or alliances, which could disrupt its business and adversely affect financial results[134] - Labor costs are expected to increase due to inflation and stricter labor laws, potentially impacting the company's financial condition[134] - The company has concluded that its internal control over financial reporting was effective as of December 31, 2023, but failure to maintain this could harm investor confidence[134] - The company faces increasing regulatory and investor focus on ESG matters, which could impose additional costs and risks[136] - The company may be subject to fines or sanctions if its activities are deemed to violate the Anti-Monopoly Guidelines for Internet Platforms, with fines up to 10% of last year's sales revenue[158] - PRC regulations on foreign exchange, including SAFE Circular 37, may restrict the company's ability to distribute profits or increase registered capital for its PRC subsidiaries[159][161] - The company faces uncertainties regarding the enforcement of new PRC laws and regulations, which could impact its business operations and financial condition[154][158] - The company may be subject to more stringent foreign exchange review and approval processes, potentially affecting its ability to remit dividends or conduct cross-border transactions[161] - PRC resident employees participating in overseas stock incentive plans must register with SAFE and remit foreign exchange income into a PRC collective foreign currency account[163] - Loans to PRC subsidiaries by offshore holding companies are subject to SAFE registration and cannot exceed statutory limits[165] - The company may be treated as a PRC resident enterprise and subject to 25% global income tax if deemed to have a "de facto management body" in China[167] - Non-resident enterprise shareholders may face a 10% PRC withholding tax on dividends and gains from ADS or Class A ordinary shares if the company is deemed a PRC resident enterprise[169] - Indirect transfers of equity interests in PRC resident enterprises may be subject to PRC enterprise income tax at a rate of 10% under SAT Public Notice 7[171] - Renminbi conversion for capital account transactions is restricted and requires SAFE approval, limiting the company's ability to utilize RMB cash flow outside China[172] - China's M&A regulations make it more time-consuming and complex for foreign investors to acquire PRC companies, potentially delaying or inhibiting the company's ability to complete such transactions[174] - Shenzhen Futu enjoys a 15% preferential enterprise income tax rate until 2026 due to its status as a "High New Technology Enterprise"[174] - Futu Network Technology (Shenzhen) Co., Ltd. is entitled to a 15% preferential income tax rate until 2025 as a "High New Technology Enterprise"[174] - The discontinuation of preferential tax treatments or government subsidies could adversely affect the company's financial condition and results of operations[174] - Dividends paid by PRC subsidiaries to the Hong Kong subsidiary may be subject to a reduced withholding tax rate of 5% under the tax treaty between Mainland China and Hong Kong[177] - The PCAOB's inability to inspect the company's auditor in China historically deprived investors of the benefits of such inspections[177] - Overseas authorities face significant challenges in conducting investigations or collecting evidence within China due to legal and regulatory restrictions[181] - The company relies on contractual arrangements with VIEs in China, which accounted for 0.2% of total revenues and 0.1% of total assets in 2023[182] - The contractual arrangements with VIEs may not be as effective as direct ownership and could expose the company to legal and operational risks[182] - The PRC government regulates internet-based businesses with foreign ownership limited to 50% for certain value-added telecommunication services, excluding e-commerce and other specified services[184] - Futu Holdings conducts operations in China through Contractual Arrangements with Consolidated Affiliated Entities, considered the primary beneficiary under U.S. GAAP[184] - Potential penalties for non-compliance with PRC regulations include revoking business licenses, levying fines, confiscating income, and restricting operations[186] - New PRC laws may impose additional requirements on the company's corporate structure and Contractual Arrangements, potentially affecting business operations[187] - The company relies on dividends from PRC subsidiaries, which are subject to statutory reserves of at least 10% of after-tax profits until reaching 50% of registered capital[192] - Transfer pricing adjustments by PRC tax authorities could increase tax liabilities and limit preferential tax treatments for the VIEs[195] - Misuse or misappropriation of corporate chops and seals by authorized personnel could disrupt operations and require significant legal action to resolve[195] - Bankruptcy or liquidation of VIEs could result in loss of material assets, adversely affecting the company's business and financial condition[195] - The Foreign Investment Law and its Implementation Regulations in China may impact the company's corporate structure, governance, and operations, with uncertainties regarding the classification of contractual arrangements as foreign investment[197] - The trading price of the company's ADSs has been volatile since their listing on March 8, 2019, and may continue to be influenced by regulatory developments, market rumors, and economic conditions[198] - The company's dual-class share structure concentrates voting power, with Class B ordinary shares holding 90.5% of the voting power despite representing only 32.2% of the total share capital[203] - The ADSs may be excluded from certain stock market indices due to the dual-class share structure, potentially affecting their market price and liquidity[203] - The company does not expect to pay dividends in the foreseeable future, and investors should rely on price appreciation of the ADSs for returns[204] - Substantial sales or perceived potential sales of ADSs in the public market could negatively impact the ADS price and the company's ability to raise capital[206] - Holders of ADSs have limited voting rights and must rely on the depositary to exercise voting rights on their behalf[206] - ADS holders may face limitations in voting rights and may not receive sufficient notice to withdraw shares for direct voting[208] - Future rights offerings may be limited for ADS holders, potentially causing dilution in their holdings[209] - Cash dividends may not be distributed to ADS holders if the depositary deems it impractical[210] - The deposit agreement can be amended or terminated without prior consent of ADS holders, with only 30 days' notice for disadvantageous amendments[212] - ADS holders may not be entitled to a jury trial for claims arising under the deposit agreement, potentially resulting in less favorable outcomes[212] - Transfer of ADSs may be limited due to book closures by the depositary for corporate events or emergencies[214] - Judgments obtained against the company by shareholders may not be enforceable due to the company's incorporation in the Cayman Islands[215] - Shareholders may face difficulties in protecting their interests due to differences in Cayman Islands corporate governance practices[216] - Anti-takeover provisions in the company's memorandum and articles of association could limit shareholders' opportunity to sell shares at a premium[218] - As a foreign private issuer, the company is exempt from certain U.S. securities regulations, potentially reducing protections for investors[218] - The company may be classified as a Passive Foreign Investment Company (PFIC) for US federal income tax purposes, which could subject US investors to significant adverse tax consequences[220] - The company's founder, chairman, and CEO, Mr. Leaf Hua Li, owns more than 50% of the total voting power, making it a "controlled company" under Nasdaq rules[220] - The company's audit committee consists of only two independent directors, relying on Cayman Islands corporate governance practices that differ from Nasdaq standards[220] - The company did not hold an annual shareholders' meeting in 2022, relying on a home country practice exemption[220] - The company expects to incur significant expenses and devote substantial management effort to ensure compliance with Section 404 of the Sarbanes-Oxley Act[223] - The company may face increased costs and difficulties in obtaining director and officer liability insurance due to its public company status[223] Client and User Metrics - The company serves approximately 21.6 million users as of December 31, 2023[232] - The average client age is 38, with average paying client assets of over HK$280,000 as of December 31, 2023[232] - Paying clients increased from 1,244,222 in 2021 to 1,710,106 in 2023, representing a 15.0% year-over-year growth[234] - Total client asset balance grew from HK$407.8 billion in 2021 to HK$485.6 billion (US$62.2 billion) in 2023[234] - The company's paying clients had an average asset balance of HK$284,000 in their trading accounts as of December 31, 2023[281] - The company retained an average of over 98% of its paying client base on a quarterly basis during 2021, 2022, and 2023[281] - The number of paying clients increased from 1,244,222 in 2021 to 1,710,106 in 2023[282] - The company's user base grew from 17,374,296 in 2021 to 21,643,536 in 2023[282] Marketing and Advertising - The company has incurred significant expenses in advertising and marketing efforts, which may not be effective and could adversely affect net margins[117] - The company's marketing team expanded from 138 in 2021 to 340 in 2023[288] - Selling and marketing expenses decreased from HK$1,392.1 million in 2021 to HK$710.3 million (US$90.9 million) in 2023[288] Platform and Trading Services - The company's margin financing, securities lending, IPO loans, and stock-pledged loan businesses depend on adequate funding at reasonable costs, which cannot be assured[96] - The company launched an online wealth management product distribution service in August 2019, but lacks necessary licenses for fund services in Mainland China, risking penalties and business suspension[110] - The company's revenue heavily depends on brokerage commission income, which is tied to the total trading volume facilitated by its platform[117] - Fraudulent or illegal activities on the platform could harm the company's brand, reduce trading volume, and lead to regulatory inquiries or investigations[119] - The company faces risks related to outdated or inaccurate client information, which could result in legal or regulatory sanctions, fines, or reputational damage[119] - The company's platform relies on complex software, and undetected errors or bugs could harm its reputation, delay new features, or compromise data protection[119] - A significant decrease in liquidity could reduce client confidence, lead to loss of trading accounts, and force the company to seek external financing[122] - Interest income from uninvested client cash balances was HK$2,482.9 million (US$317.9 million) in 2023, and a reduction in cash allocations could negatively impact financial results[123] - Errors in clearing functions could lead to regulatory fines, civil penalties, and legal liability, adversely affecting the company's operations and financial condition[123] - The company's success depends on retaining key employees, and failure to do so could adversely affect its business, results of operations, and financial condition[125] - The company faces potential liability for content displayed on its platform, which could materially and adversely affect its business and operating results[130] - The company's proprietary cross-market system allows clients to trade on multiple exchanges from a single platform, with account opening completed in as little as three minutes[290] - The platform is capable of processing 1,012 Hong Kong listed securities trades per second as of December 31, 2023[248] - Clients are required to transfer a minimum of HK$10,000 or US$1,500 into their trading account to complete online identification verification[242] - Bank-to-brokerage fund transfers can be completed in as fast as a few seconds, and are normally completed within five minutes[243] - The platform supports fund transfer services for multiple currencies including Hong Kong dollar, US dollar, offshore RMB, Singapore dollar, Australian dollar, Japanese Yen, and Canadian dollar[243] - The platform provides comprehensive order types including limit/market order, stop loss limit/market order, and TWAP/VWAP order[246] - The company launched bond trading services on Futubull in September 2020 and on moomoo in February 2023, charging clients a fixed commission rate based on trading volume[256] - The company started offering structured products on Futubull in June 2022, including Decu, Sharkfin, Snowball, and FCN notes for professional investors[256] - The company offers real-time stock quotes across equity markets in Hong Kong, Mainland China, the United States, Singapore, Australia, Japan, Canada, and Malaysia[258] - The user community, NiuNiu/Moo Community, had over 1,700 enterprise accounts and generated approximately 124,000 user-generated content (UGC) per trading day in 2023[264] - The company acted as an underwriter for 117 Hong Kong IPOs and 13 U.S. IPOs from 2021 to 2023, including landmark IPOs like 4Paradigm and J&T Express[266] - As of December 31, 2023, the company had 414 IPO distribution and investor relations clients and 709 ESOP solutions clients[265] - The company

HONG KONG, April 24, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited ("Futu" or the "Company") (NASDAQ:FUTU), a leading tech-driven online brokerage and wealth management platform, today announced the number of its clients in Malaysia has surpassed 100,000 on April 15, 2024. Futu officially launched its brokerage business in Malaysia on February 26, 2024. In Malaysia, capital markets products and services on moomoo are offered by Futu Malaysia Sdn. Bhd., a subsidiary of Futu Holdings Limited. On January 24, ...

掘金优质中概系列：富途控股（FUTU）深度报告 进击的全球交易平台，待风起 2024年04月19日 ➢ 科技驱动的一站式财富管理平台，业绩持续释放。公司于2012年正式开展 港股线上经纪业务，后续不断扩充香港及海外牌照获取。公司创始人李华先生为 第一大股东，享有高投票权，腾讯为第二大股东。2019-2023年，公司营收CAGR 达75%，净利润CAGR高达125%。经纪佣金+利息收入为最主要收入来源，合 [Table_Author] 计占比总营收维持在90%以上。公司用户数、开户客户数和入金客户数呈现持续 增长态势，入金用户留存率保持在98%以上，2023年新增入金客户数指引为35 万人。公司客户总资产呈现持续提升趋势，截至 2023 年末，客户总资产 4856 亿港元，yoy+16%，重回双位数增长轨道。 ➢ 存量市场基本盘稳健，持续领军香港和新加坡市场。大陆：根据中国证监会 规定，存量的大陆客户交易不受影响，公司仍将服务好存量大陆客户。香港：公 分析师 易永坚 司是香港最大的零售互联网券商，在香港用户量达到香港本地成年人口超40%， 执业证书： S0100523070002 邮箱： yiyongjian@ ...

研究报告Research Report 15 Mar 2024 富途控股 Futu Holdings (FUTU US) 2023 年报点评：业绩增势良好，国际化有序推进 Solid FY23 Results with Good Progress in Oversea Markets Expansion [观Ta点bl聚e_焦yemInevie1s] tment Focus [Tab维le_持Inf优o] 于大市Maintain OUTPERFORM (Please see APPENDIX 1 for English summary) 评级 优于大市OUTPERFORM  2023 年四季度营收同比微增。富途控股 2023 年实现营业总收 入 100.1 亿港元，同比+31%；调整后净利润 45.7 亿港元，同比 现价 US$56.40 目标价 US$68.34 +46%；均低于我们及市场预期。EPADS 31.0 港元，ROE 18.85%，同比+4.9pct。四季度实现营业收入 23.7 亿港元，同比 市值 US$7.88bn +4%；调整后净利润9.5亿港元，同比-6%。公司全年及Q4营收 日交易额 ...