Operational highlights of the unaudited financial results for
the first quarter ended March 31,
2021:
- Total revenue in the first quarter increased 349.4%
year-over-year ("YoY") to $283.6
million, achieving triple-digit growth for five consecutive
quarters.
- Non-GAAP adjusted net income[1] was up 6.3 times YoY
to $151.7 million.
- The number of Futu users reached 14.2 million, an increase of
69.7% YoY; the number of registered clients reached 1,957,436, an
increase of 140.2% YoY; the number of Futu's paying clients reached
789,652, an increase of 231.0% YoY.
- During Q1, Futu's total trading volume soared 277.5% YoY to
$289.0 billion.
PALO ALTO, Calif., May 19, 2021 /PRNewswire/ -- Futu Holdings
Limited ("Futu" or the "Company") (Nasdaq: FUTU), a leading
tech-driven online brokerage and wealth management platform,
announces its unaudited financial results for the first quarter
ended March 31, 2021 ("Q1").
Futu continued to deliver strong growth during Q1, with total
revenues increasing 349.4% year- over-year ("YoY") to $283.6 million, reflecting triple-digit growth
for five consecutive quarters. Non-GAAP adjusted net income was up
6.3 times YoY to $151.7 million.
Relying on its superior product experience and laser focus on
meeting diverse investment needs, the Company achieved historic
business expansion worldwide. As of the first quarter, the total
number of paying clients increased 231.0% YoY to
789,652. Net paying client addition was
approximately 273,000, almost a 7x increase compared to the 40,000
net paying client addition recorded for the first quarter of 2020.
Seventy percent of new net paying clients came from high growth
markets – namely Hong Kong,
Singapore and the US; the total
number of users increased 69.7% YoY to 14.2 million, and the number
of registered clients increased 140.2% YoY to 1,957,436. In
addition to rapid client base expansion, client retention
remained high at 98.2% during Q1. And as of March 31, 2021 total client assets reached
$59.4 billion, a YoY increase of
367.6%. In the first quarter, clients' trading activity continued
to thrive with Daily Average Revenue Trades (DARTs) increasing
321.0% YoY to 902,533.
During Q1, all three business segments recorded 3-times growth:
Brokerage commission and handling charge income increased 342.8%
YoY to $170.4 million;
interest income was $84.7 million, an
increase of 355.8%; and other income (including wealth management,
enterprise services, etc.) increased by 370% YoY to $28.4 million.
[1]
Non-GAAP adjusted net income is defined as net income excluding
share-based compensation expenses.
|
Quarterly trading volume soared to $289.0 billion, US stocks business
continued to ramp up
Total trading volume in the first quarter of 2021 increased
277.5% YoY to $289.0 billion, in
which trading volume for US stocks was $180.9 billion. US stocks accounted for 63% of
the total trading volume, a new milestone reflecting Futu's
competitive advantage as a one-stop global investment platform.
During Q1, Futu launched the innovative "2020 Q4 Earnings
Analysis" session, which provides content related to different
Nasdaq listed companies, such as NIO Inc., XPeng Inc., Baidu Inc.,
KE Holdings Inc., etc. From a market accessibility perspective,
Futu empowers clients to seize investment opportunities by
supporting 24/7 US market updates, where global financial news and
stock analysis are all at users' fingertips. Further propelled by
an active investment community wherein millions of users seamlessly
exchange thoughts and ideas to help make informed investment
decisions, Futu's US stock business continues to thrive.
Futu is constantly improving the user investment experience with
continuous product updates. In the first quarter, Futu fully
launched Global Futures and further enhanced trading categories,
with a focus on Hong Kong, US and
Singapore futures products. In
keeping with the mission of "making investing easier and not
alone," Futu also provides complimentary global market data, such
as Hong Kong Stocks, US Stocks and China A-shares stock market
quotes, as well as easy-to-use investing tools.
Futu capitalizes on global market opportunities with rapid
expansion in the US and Singapore
Futu has rapidly expanded in high-growth financial markets
around the world, such as Hong
Kong, Singapore and the US,
where paying clients on a net basis accounted for more than 70% of
growth in Q1.
Executing against its mission to become an influential global
financial services platform, Futu secured multiple licenses
covering major financial markets, improved its products, R&D
and operations and has continuously improved the investment
experience of individual investors. In addition to deepening its
presence in the US, in the first quarter, Futu announced that it
officially entered the Singapore
market as the headquarters of South East
Asia market and launched the international version of the
Futu APP, moomoo. The moomoo app provides Singapore investors with a new, one-stop
investment experience, complete with investment transactions,
up-to-date news, real-time market data and trading community
interaction.
Mr. Leaf Hua Li, Futu's Founder, Chairman, CEO & Chairman
of the Technology Committee, said, "Our outperformed growth
this quarter reflects an important milestone in Futu's global
expansion strategy and serves as a solid proof point in support of
prioritizing our users' needs. As the one-stop platform in
connecting 14 million users and global financial markets, Futu
never ceases to pursue a better investment experience with its
relentless efforts in driving technology innovation across products
and services offering, as well as extending the brand's reach with
licensing. For the next quarter, we will continue to execute our
global expansion strategy, aiming to connect more individual
investors, corporates and asset managers worldwide as the leading
global platform cultivating interactions between the investor and
capital markets communities."
Outstanding performance in Enterprise Services helps
more than 100 China concept
stocks list on US and Hong Kong
stock markets
During Q1, FUTU I&E accelerated the delivery of a variety of
value-added services in IPO distribution and new-gen of investor
and public relations services. As of the first quarter, Futu
provided IPO distribution and IR services to 152 companies and has
helped more than 100 new economy companies, including Baidu Inc.,
Bilibili Inc., and Kuaishou Technology, successfully enter the US
and Hong Kong stock markets.
During Q1, Futu underwrote all new economy China concept stocks listed in the US and
those new economy companies that returned to Hong Kong for secondary listings.
As of the first quarter, FUTU I&E marked a new milestone of
a total 200 ESOP solution clients, including leading companies in
the healthcare, consumer & retail, automotive, logistics and
TMT industries. By providing new economy and traditional
enterprises with a full suite of services from granting, vesting,
exercise, and settlement of the stock awards, FUTU I&E has
become the preferred one-stop ESOP solution provider for leading
companies across all industries.
In its wealth management business, Money Plus saw assets under
management reach US$1.68 billion
during Q1, a YoY increase of 108.0%. During Q1, Money Plus
established new partnerships with four reputable asset managers,
namely Wells Fargo, Income Partners, Aberdeen Standard and BNY
Mellon. Money Plus also had more than 40 global top fund company
partners.
About Futu Holdings Limited
Futu Holdings Limited ("Futu") (Nasdaq: FUTU) is an advanced
technology company transforming the investing experience by
offering a fully digitized brokerage and wealth management
platform. Futu provides investing services - including stock
trading and clearing, margin financing, wealth management, market
data and information, and interactive social features for
Hong Kong, US and China Connect
stocks - to individual investors through its proprietary one-stop
digital platforms, Futubull and moomoo. Futu also provides Employee
Stock Ownership Plan (ESOP) solutions and IPO distribution services
through its enterprise service brand FUTU I&E, with a focus on
providing employee stock ownership plans to corporate clients.
Futu aims to become an influential financial services platform
globally, by building a complete financial technology ecosystem
with the mission of "making investment easier and not alone." For
more information about Futu, please visit the
www.futuholdings.com.
About Moomoo Inc.
Headquartered in Palo Alto,
California, Moomoo Inc. is an indirect wholly-owned
subsidiary of Futu Holdings Limited (Nasdaq: FUTU), with its
mission to transform personal investing experience with an
intuitive user interface, fully digitized trading platform in the
US and globally.
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SOURCE Futu Holdings Limited