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大和呼吁保持冷静，称对于富途的监管实则是消除了悬念

Daiwa says 'stay calm,' Futu regulation removes overhang

Daiwa · Jan 3, 2023 08:11

FUTU +0.10%

大和证券分析师Leon Qi在中国证监会推进富途控股、老虎证券非法跨境展业整治工作后，呼吁投资者保持冷静。

Qi认为，对新老客户的不同监管处理透露出一个了重要的信息。他认为官方的监管公告实则是消除了悬念。考虑到监管公告的净影响，Qi将2023年和2024年的盈利预期下调了最多5%，但其仍看好Futu的结构性用户和盈利增长，并保持对该股的跑赢大盘评级，目标价为64美元。

Daiwa analyst Leon Qi tells investors to "stay calm" after the China Securities Regulatory Commission said it will regulate Futu's cross-border brokerage activities by prohibiting incremental customer acquisition domestically, and ensuring proper handling of its existing business by allowing existing domestic clients to keep trading overseas securities via its platforms. The analyst thinks the different regulatory treatments for new and old customers is an important point. He views the official regulatory announcement "as a removal of an overhang" and revised down his 2023 and 2024 earnings estimates by up to 5% on factoring in the net impact of the regulatory announcement. Qi still likes Futu's structural user and earnings growth.He keeps an Outperform rating on the shares with a $64 price target.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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This page is machine-translated. Moomoo tries to improve but do not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation.

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.

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In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).

In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.

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