- Flagship trading apps moomoo and Futubull have acquired
18.1 million global users as of quarter end
PALO
ALTO, Calif., June 6, 2022
/PRNewswire/ -- 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.
Futu's Chairman and Chief Executive Officer Mr. Leaf Hua Li
said, "Although the market sentiments remained volatile in the
first quarter, Futu demonstrated its resiliency with upbeat
highlights and growth in key indicators across various markets.
Notably, our enterprise service business and wealth management
business performed robust growth."
Futu continues to lead the industry with continuous growth of
Hong Kong paying clients
Having established its presence in Hong Kong for almost ten years, Futu has led
the way in the brokerage industry and its renowned Futubull app is
now a household brand name for local investors. Meanwhile, the
number of paying clients continues to grow.
Futubull's highly engaging online investor community remains the
largest in scale among its local peers. Hong Kong users spent an average of 33.4
minutes using the Futubull app per trading day during the first
quarter. There were over 363,000 daily average Hong Kong active users in the online community
in the first quarter, producing nearly 100,000 pieces of UGC
content each trading day.
Meanwhile, Futu's Hong Kong
subsidiary Futu Securities International (Hong Kong) Limited won five awards from HKEX,
demonstrating the recognition of the efforts made by the company in
pursuing better trading experience.
Futu Singapore is becoming the first online brokerage to
acquire full Singapore Exchange memberships
One year into moomoo's debut in Singapore, Futu Singapore Pte. (Futu SG) has
obtained approvals-in-principal for all of five SGX memberships and
an Exempt Financial Adviser status from the Monetary Authority of
Singapore.
This makes Futu SG not only the first online brokerage in
Singapore to receive
approvals-in-principle for full trading and clearing memberships
for securities and derivatives, but also the pioneer in the
industry to achieve all five SGX memberships. As a fully licensed
member of the Singapore Exchange, Futu Singapore can provide
trading and clearing services for itself and other Futu
subsidiaries, creating synergies and providing a more diversified
product range and better services to local investors.
Futu is renowned among Singapore investors for its premium fund
products and customized services. Futu Money Plus has expanded its
fund product offerings in Singapore to support SGD funds, money market
funds, and dividend funds, and has partnered with 26 leading
international financial institutions to provide local investors
with more options for wealth management. During the quarter, Futu
Money Plus' client assets and the number of fund clients in
Singapore increased by 93% and 95%
quarter-over-quarter respectively.
Futu expanded its enterprise service footprint in Singapore by participating in several
high-profile ETF IOPs. Futu SG was entrusted by Nikko Asset
Management as a participating agent in the Initial Offering Period
and listing of the Nikko AM – Straits Trading MSCI China Electric
Vehicles and Future Mobility ETF (Exchange Traded Fund) on SGX in
the first quarter. The subscription of the ETF via Futu Singapore
ranked the first in the market, proving Futu's value in enhancing
the local market's liquidity and promoting investment.
Moomoo steadily acquires users in the US and makes a debut in
Australia
Since its debut in the U.S. in 2018, moomoo continued to gain
interest from active traders who seek better tools to trade like a
pro – a pro that treats investing seriously to have greater control
of their financial future.
Moomoo's core users are retail traders who strive to learn and
improve their investing strategies, using the tools, data and
training content on moomoo app. Moomoo broke the information
barrier by making professional data that used to be exclusive to
institutions available to all of its users, such as free level 2
data and free daily short sale volume data, to name a few.
As of quarter end, moomoo had rolled out almost 2500 investing
courses online, delivering content in forms of stories,
infographics, gif images, videos, animation clips, live streaming,
etc., with which users can learn investing concepts and tactics
easier than ever. In January moomoo worked with the reputable U.S.
financial media firm Benzinga to hold an online seminar series
aiming to help the audience to develop professional trading
skills.
With the outstanding trading experience moomoo delivers, the app
was named as the "Best Trading Platform" in first quarter by
FinTech Breakthrough, an independent market intelligence
organization in the U.S. focusing on global FinTech innovators.
Moomoo also announced its official launch in Australia on 08 March
2022, with the vision of empowering all investors to grow
their wealth through an affordable yet powerful investment
platform. Australian investors can now use moomoo to trade stocks
and ETFs listed in Australian and US markets - soon trading of
Hong Kong, China-A shares and
Singapore markets will be
available.
Moomoo promotes financial education for investor of all
levels, putting responsible investing into practice
Elsewhere, the company keeps investing in education to promote
responsible investing, cultivating financial literacy for investors
of all kinds and empowering them to achieve their financial
goals.
In February, moomoo partnered with Palo Alto Education Group and
LaunchFIT, two Bay Area-based educational organizations, in
launching #Investeen, a campaign aimed at improving financial
literacy and equity investment knowledge in adolescents. As part of
the campaign, moomoo participated in launching the paper trading
competition in moomoo app, which enabled students from more than 20
countries to practice trading in a safe environment with stimulated
funds, to test-drive their investment strategy responsibly.
In Singapore, moomoo partnered
with SUSS Investment Group, a student-led community in the
Singapore University of Social
Sciences, to launch the inaugural Portfolio Management Challenge
2022 early this year. The challengers executed trades in the US
market with moomoo platform and updated their portfolio weightage
on moomoo's portfolio feature to view live rankings.
Futu stays committed to the vision of making investing easier
for investors all over the world
"We are humbly glad to see the achievements in the first quarter
from various markets, but we will never feel fully satisfied in
making investment more accessible for all." Leaf added. "Since the
inception of the company, we are committed to our pursuit in making
investing easier and not alone, with our tech excellence. We will
never cease bringing better trading experience to investors
worldwide, becoming their trusted partner to make more savvy
decisions, to connect with like-minded peers and to stay up to date
on the financial world."
About moomoo
Moomoo is a next-generation one-stop digital financial service
platform created by Moomoo Inc., a fintech company based in
Palo Alto, California.
Moomoo integrates trading, market data, social networking with
advanced features, such as AI-powered analytics and anomaly
detection functions. It supports free online account-opening and
provides access to the trading of stocks and ETFs in multiple
global markets such as the United
States, Hong Kong SAR, Singapore, and Australia. Moomoo and its brand affiliates
also offer rich investor education content and an interactive
online community with 18 million users in more than 200 countries
globally.
Moomoo's parent company is the Nasdaq-listed fintech company
Futu Holdings Limited ("Futu"), which is headquartered in
Hong Kong. Futu's subsidiary is
also one of the largest brokerages in Hong Kong. On March 8,
2019, Futu was listed on the Nasdaq (symbol: FUTU).
For more information, please visit the moomoo official website
at www.moomoo.com.
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 investing easier and more
collaborative." For more information about Futu Holdings, please
visit the company's official website
www.futuholdings.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/futu-holdings-achieves-solid-first-quarter-growth-amid-market-volatility-with-67-9-yoy-increase-in-paying-clients-301561661.html
SOURCE moomoo Inc.