Futu Announces Investment Grade Rating Reaffirmed by S&P Global Ratings
July 27 2022 - 10:00PM
Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq:
FUTU), a leading tech-driven online brokerage and wealth
management platform, today announced that S&P Global Ratings
(“S&P”) reaffirmed the Company’s long-term issuer credit rating
at “BBB-” and maintained stable outlook on the long-term rating.
According to S&P, Futu is well-positioned in
Hong Kong retail brokerage market given its good track record of
client acquisition and retention, and is likely to benefit from
market consolidation as an established low-cost operator. Aside
from focusing on online brokerage, Futu is striving to develop new
business segments, including wealth management and enterprise
services, and diversify revenue sources, geographic reach, product
offerings and client base. In addition, Futu has adequate funding
thanks to the diversified funding sources, large collateral pool,
and prudent credit policies. S&P took a positive view of Futu’s
strong RAC (risk-adjusted capital) and anticipates that Futu will
sustain the capital adequacy in the next two years.
About Futu Holdings Limited
Futu Holdings Limited (Nasdaq: FUTU) is an
advanced technology company transforming the investing experience
by offering a fully digitalized brokerage and wealth management
platform. The Company primarily serves the emerging affluent
population, pursuing a massive opportunity to facilitate a
once-in-a-generation shift in the wealth management industry and
build a digital gateway into broader financial services. The
Company provides investing services through its proprietary digital
platforms, Futubull and moomoo, each a highly integrated
application accessible through any mobile device, tablet or
desktop. The Company's primary fee-generating services include
trade execution– which allows its clients to trade securities, such
as stocks, ETFs, warrants, options and futures across different
markets – as well as margin financing and securities lending. Futu
has also embedded social media tools to create a network centered
around its users and provide connectivity to users, investors,
companies, analysts, media and key opinion leaders.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the "safe harbor"
provisions of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. Among other things, the quotations from the management
team of the Company, contain forward-looking statements. Futu may
also make written or oral forward-looking statements in its
periodic reports to the SEC, in its annual report to shareholders,
in press releases and other written materials and in oral
statements made by its officers, directors or employees to third
parties. Statements that are not historical facts, including
statements about Futu's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: Futu's goal and strategies; Futu's expansion plans;
Futu's future business development, financial condition and results
of operations; Futu's expectations regarding demand for, and market
acceptance of, its credit products; Futu's expectations regarding
keeping and strengthening its relationships with borrowers,
institutional funding partners, merchandise suppliers and other
parties it collaborate with; general economic and business
conditions; and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in Futu's filings with the SEC. All information provided
in this press release and in the attachments is as of the date of
this press release, and Futu does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
For investor inquiries, please contact:
Investor RelationsFutu Holdings Limitedir@futuholdings.com
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