Futu Achieves Solid First-Quarter Growth Amid Market Volatility with 67.9% YoY Increase in Paying Clients
Moomoo’s parent company Futu Holdings Limited (Nasdaq: FUTU) (Futu), a leading tech-driven online brokerage and wealth management platform, reported solid performance for the quarter ended March 31, 2022, with US$209.5 million (HK$ 1641.0 million) total revenues, and US$79.4 million (HK$622.2 million) non-GAAP adjusted net income.
Financial & strategic highlights for the first quarter:
● As of quarter end, total number of users of moomoo and its sister brand Futubull was 18.1 million, an increase of 27.1% YoY;
● Total number of registered clients was 2,910,995, an increase of 48.7% YoY;
● Total number of paying clients was 1,326,163, an increase of 67.9% YoY;
● Over 80% of the newly acquired paying clients in first quarter were from Hong Kong SAR, the United States, Singapore and Australia markets, indicating the company’s thriving international business;
● Client stickiness maintained at a high level with the quarterly client retention rate of over 98%.
● In terms of enterprise service, Futu I&E had 258 IPO and IR clients as well as 459 ESOP clients as of quarter end, climbing up 69.7% and 129.5% YoY, respectively.
● Regarding wealth management, total client assets reached HK$20.9 billion in the first quarter, an increase of 59.1% YoY. Futu has partnered with 64 world’s well-known financial institutions to offer wealth management services.
● As of quarter end, Futu has acquired 50 licenses and qualifications (including approvals-in-principle) from regulators across major financial markets.
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Futu is an advanced tech company transforming the investing experience by offering a fully digitized brokerage and wealth management platform.
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skyfreedom85 : Not sure if anyone will ask them later - will they be on secondary listing soon? If so, where? This will help to strength the confidence level of investors
Eugenics : Best to follow Nio and list on SGX
Milk The Cow : Hehe, always knew they'd it in them
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But its stock may be a bit complicated.
Business wise, I think is OK
102978507 : Yaya
momomoomoo : really good marketing, profits drop also can say solid performance