Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq:
FUTU), a leading tech-driven online brokerage and wealth
management platform, today announced its unaudited financial
results for the second quarter ended June 30, 2022.
Second Quarter 2022 Operational
Highlights
- Total number of paying
clients1 increased 38.6% year-over-year
to 1,387,146 as of June 30, 2022.
- Total number of registered
clients2 increased 30.5% year-over-year
to 3,021,790 as of June 30, 2022.
- Total number of
users3 increased 20.0% year-over-year to
18.6 million as of June 30, 2022.
- Total client
assets declined 13.8% year-over-year to HK$433.6 billion
as of June 30, 2022.
- Daily average client
assets were HK$380.6 billion in the second quarter of
2022, a decrease of 19.1% from the same period in 2021.
- Total trading volume in the
second quarter of 2022 increased 2.4% year-over-year to
HK$1.3 trillion, in which trading volume for U.S. stocks was
HK$897.1 billion, trading volume for Hong Kong stocks was HK$423.6
billion, and trading volume for stocks under the Stock Connect was
HK$23.3 billion.
- Daily average revenue
trades (DARTs)4 in the second quarter of 2022 increased
6.1% year-over-year to 574,186.
- Margin financing and
securities lending balance declined 12.4% year-over-year
to HK$28.9 billion as of June 30, 2022.
Second Quarter 2022 Financial Highlights
- Total revenues
increased 10.8% year-over-year to HK$1,746.7 million (US$222.6
million).
- Total gross profit
increased 18.6% year-over-year to HK$1,538.8 million (US$196.1
million).
- Net income
increased 20.2% year-over-year to HK$641.7 million (US$81.8
million).
- Non-GAAP adjusted net
income5 increased 25.1% year-over-year to HK$688.5 million
(US$87.7 million).
Mr. Leaf Hua Li, Futu’s Chairman and Chief
Executive Officer, said, “In the second quarter, we added over 60
thousand paying clients, bringing our first half paying clients'
growth to 143 thousand. Organic growth again contributed over 50%
of new paying clients. Weak equities market performance dragged
client growth across all markets except for Hong Kong, where we
launched targeted marketing campaigns around the green bond
issuance in May and attracted a meaningful number of
allocation-driven clients. Our quarterly client retention rate
remained above 98% despite sharp market correction.”
“Total client assets increased by 12.3%
quarter-over-quarter to HK$433.6 billion, mostly attributable to
the rebound of China technology names in June and robust net asset
inflow across regions. The average asset balance of our newly
acquired paying clients in Singapore exceeded SG$10 thousand within
three months as we continued to prioritize client quality. Margin
financing and securities lending balance increased 13.4%
sequentially, as sentiments improved around technology stocks.”
“Total trading volume was HK$1.3 trillion, up
1.5% sequentially. U.S. and Hong Kong stock trading volumes were
HK$897.1 billion and HK$423.6 billion, respectively, up 5.8% and
down 5.4% quarter-over-quarter. The sequential uptick of U.S stock
trading was mostly driven by higher turnover of leveraged and
inverse ETFs amid heightened market volatility.”
“In the first half of this year, we continued to
focus relentlessly on user experience by releasing 99 versions of
our mobile app and desktop clients and adding 3,989 new features.
In the second quarter, we launched multi-leg options for Hong Kong
stocks, enabling our users to formulate advanced options trading
strategies to better manage risk and achieve investment targets. We
believe this function will attract more sophisticated options
traders to our platform. We also rolled out regular savings plan
for Hong Kong stocks, which helps our users make disciplined
investments amid market fluctuation.”
“Total client assets in wealth management were
HK$21.9 billion, up 58.8% year-over-year and 4.8%
quarter-over-quarter. As of quarter end, over 200 thousand clients,
14.6% of our total paying clients, held wealth management products.
In Singapore, wealth management asset balance increased 377.4%
quarter-over-quarter as we further expanded mutual fund
offerings.”
“We had 276 IPO and IR clients as well as 519
ESOP clients as of quarter end, up 48.4% and 97.3%
year-over-year.”
Mr. Arthur Yu Chen, Futu’s Chief Financial
Officer, added, “As of June 30th, we repurchased an aggregate of
6.5 million ADSs with approximately US$200 million total
repurchased amount in open market transactions. This constituted
about 40% of the maximum purchase amount of US$500 million approved
under our share repurchase program previously announced on March
11th, 2022.”
Second Quarter 2022 Financial Results
Revenues
Total revenues were HK$1,746.7 million (US$222.6
million), an increase of 10.8% from HK$1,576.9 million in the
second quarter of 2021.
Brokerage commission and handling charge income
was HK$1,033.8 million (US$131.7 million), an increase of 29.6%
from the second quarter of 2021. This was mainly driven by the
increase in blended commission rate from 6.1bps to 7.7bps.
Interest income was HK$620.4 million (US$79.1
million), an increase of 1.7% from the second quarter of 2021.
Higher interest income from bank deposits and securities lending
was largely offset by lower margin financing income and IPO
financing interest income.
Other income was HK$92.5 million (US$11.8
million), a decrease of 45.2% from the second quarter of 2021. The
decrease was primarily attributable to lower IPO financing service
charge income and underwriting fee income.
Costs
Total costs were HK$207.9 million (US$26.5
million), a decrease of 25.4% from HK$278.8 million in the second
quarter of 2021.
Brokerage commission and handling charge
expenses were HK$87.2 million (US$11.1 million), a decrease of
39.9% from the second quarter of 2021. Despite a year-over-year
increase in brokerage commission income, brokerage commission
expenses declined due to cost savings from our U.S. self-clearing
business and an upgraded service package with our U.S. clearing
house.
Interest expenses were HK$26.6 million (US$3.4
million), a decrease of 66.5% from the second quarter of 2021. This
was due to lower margin financing and IPO financing interest
expenses, as well as lower interest expenses associated with our
securities borrowing and lending business.
Processing and servicing costs were HK$94.1
million (US$12.0 million), an increase of 73.6% from the second
quarter of 2021. The increase was primarily due to higher cloud
service fees to support overseas market expansion and process a
higher number of concurrent trades.
Gross Profit
Total gross profit was HK$1,538.8 million
(US$196.1 million), an increase of 18.6% from HK$1,298.0 million in
the second quarter of 2021. Gross margin was 88.1%, as compared to
82.3% in the second quarter of 2021.
Operating Expenses
Total operating expenses were HK$721.6 million
(US$92.0 million), an increase of 11.5% from HK$647.4 million in
the second quarter of 2021.
Research and development expenses were HK$291.7
million (US$37.2 million), an increase of 68.2% from the second
quarter of 2021. This was primarily due to the increase in research
and development headcount to build U.S. clearing capabilities and
support new product offerings.
Selling and marketing expenses were HK$219.1
million (US$27.9 million), a decrease of 41.9% from HK$377.4
million in the second quarter of 2021. The decrease was mainly due
to lower overall marketing spending amid weak market
sentiments.
General and administrative expenses were
HK$210.8 million (US$26.9 million), an increase of 118.4% from the
second quarter of 2021. The increase was primarily due to an
increase in general and administrative personnel.
Net Income
Net income increased by 20.2% to HK$641.7
million (US$81.8 million) from HK$533.9 million in the second
quarter of 2021. Net income margin for the second quarter of 2022
expanded to 36.7% from 33.9% in the year-ago quarter.
Non-GAAP adjusted net income increased by 25.1%
to HK$688.5 million (US$87.7 million) from the second quarter of
2021. Non-GAAP adjusted net income is defined as net income
excluding share-based compensation expenses. For further
information, see "Use of Non-GAAP Financial Measures" at the bottom
of this press release.
Net Income per ADS
Basic net income per American Depositary Share
(“ADS”) was HK$4.50 (US$0.57), compared with HK$3.54 in the second
quarter of 2021. Diluted net income per ADS was HK$4.46 (US$0.57),
compared with HK$3.47 in the second quarter of 2021. Each ADS
represents eight Class A ordinary shares.
Conference Call and Webcast
Futu's management will hold an earnings
conference call on Tuesday, August 30, 2022, at 7:30 AM U.S.
Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time).
Please note that all participants will need to
pre-register for the conference call, using the
link https://register.vevent.com/register/BIf8e184b53cc549a3be3f648b2a077076. It
will automatically lead to the registration page of "Futu Holdings
Ltd Second Quarter 2022 Earnings Conference Call", where details
for RSVP are needed.
Upon registering, all participants will be
provided in confirmation emails with participant dial-in numbers
and personal PINs to access the conference call. Please dial in 10
minutes prior to the call start time using the conference access
information.
Additionally, a live and archived webcast of
this conference call will be available
at https://ir.futuholdings.com/.
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.
Use of Non-GAAP Financial
Measures
In evaluating the business, the Company
considers and uses non-GAAP adjusted net income, a non-GAAP
measure, as a supplemental measure to review and assess its
operating performance. The presentation of the non-GAAP financial
measure is not intended to be considered in isolation or as a
substitute for the financial information prepared and presented in
accordance with U.S. GAAP. The Company defines non-GAAP adjusted
net income as net income excluding share-based compensation
expenses. The Company presents the non-GAAP financial measure
because it is used by the management to evaluate the operating
performance and formulate business plans. Non-GAAP adjusted net
income enables the management to assess the Company's operating
results without considering the impact of share-based compensation
expenses, which are non-cash charges. The Company also believes
that the use of the non-GAAP measure facilitates investors'
assessment of its operating performance.
Non-GAAP adjusted net income is not defined
under U.S. GAAP and is not presented in accordance with U.S. GAAP.
This non-GAAP financial measure has limitations as analytical
tools. One of the key limitations of using non-GAAP adjusted net
income is that it does not reflect all items of expense that affect
the Company's operations. Share-based compensation expenses have
been and may continue to be incurred in the business and is not
reflected in the presentation of non-GAAP adjusted net income.
Further, the non-GAAP measure may differ from the non-GAAP
information used by other companies, including peer companies, and
therefore their comparability may be limited.
The Company compensates for these limitations by
reconciling the non-GAAP financial measure to the nearest U.S. GAAP
performance measure, all of which should be considered when
evaluating the Company's performance.
For more information on this non-GAAP financial
measure, please see the table captioned "Unaudited Reconciliations
of Non-GAAP and GAAP Results" set forth at the end of this press
release.
Exchange Rate Information
This announcement contains translations of
certain HK dollars (“HK$”) amounts into U.S. dollars ("US$") at
specified rates solely for the convenience of the reader. Unless
otherwise stated, all translations from HK$ to US$ were made at the
rate of HK$7.8472 to US$1.00, the noon buying rate in effect on
June 30, 2022 in the H.10 statistical release of the Federal
Reserve Board. The Company makes no representation that the HK$ or
US$ amounts referred could be converted into US$ or HK$, as the
case may be, at any particular rate or at all.
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
____________________________________
1 The number of paying clients refers to the
number of clients with assets in their trading accounts with Futu.2
The number of registered clients refers to the number of users who
open one or more trading accounts with Futu.3 The number of users
refers to the number of user accounts registered with Futu.4 The
number of Daily Average Revenue Trades (DARTs) refers to the number
of average trades per day that generate commissions or fees.5
Non-GAAP adjusted net income is defined as net income excluding
share-based compensation expenses.
FUTU HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS
(In thousands,
except for share
and per share
data)
| |
As of December 31 |
|
As of June 30 |
|
|
2021 |
|
2022 |
|
2022 |
| |
HK$ |
|
HK$ |
|
US$ |
| ASSETS |
|
|
|
|
|
|
Cash and cash equivalents |
4,555,096 |
|
|
6,300,400 |
|
|
802,885 |
|
| Cash held on behalf of
clients |
54,734,351 |
|
|
63,262,436 |
|
|
8,061,785 |
|
| Restricted cash |
2,065 |
|
|
1,971 |
|
|
251 |
|
| Term deposit |
- |
|
|
5,750 |
|
|
733 |
|
| Short-term investments |
1,169,741 |
|
|
17,501 |
|
|
2,230 |
|
| Securities purchased under
agreements to resell |
106,203 |
|
|
- |
|
|
- |
|
| Loans and advances (net of
allowance of HK$12,258 thousand and HK$20,142 thousand as of
December 31, 2020 and June 30, 2021, respectively) |
29,587,306 |
|
|
28,829,926 |
|
|
3,673,912 |
|
| Receivables: |
|
|
|
|
|
|
Clients |
469,577 |
|
|
1,438,510 |
|
|
183,315 |
|
|
Brokers |
7,893,927 |
|
|
6,125,217 |
|
|
780,561 |
|
|
Clearing organizations |
1,961,121 |
|
|
1,915,872 |
|
|
244,147 |
|
|
Fund management companies and fund distributors |
72,340 |
|
|
120,537 |
|
|
15,361 |
|
|
Interest |
50,829 |
|
|
89,458 |
|
|
11,400 |
|
| Prepaid assets |
18,306 |
|
|
19,711 |
|
|
2,512 |
|
| Other current assets |
81,594 |
|
|
108,740 |
|
|
13,857 |
|
| Total current
assets |
100,702,456 |
|
|
108,236,029 |
|
|
13,792,949 |
|
| |
|
|
|
|
|
| Operating lease right-of-use
assets |
243,859 |
|
|
212,529 |
|
|
27,083 |
|
| Long-term investments |
23,394 |
|
|
249,588 |
|
|
31,806 |
|
| Other non-current assets |
568,805 |
|
|
1,060,134 |
|
|
135,098 |
|
| Total non-current
assets |
836,058 |
|
|
1,522,251 |
|
|
193,987 |
|
| Total
assets |
101,538,514 |
|
|
109,758,280 |
|
|
13,986,936 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
| Financial liabilities at fair
value through profit or loss |
- |
|
|
6,134 |
|
|
782 |
|
| Amounts due to related
parties |
87,459 |
|
|
64,439 |
|
|
8,212 |
|
| Payables: |
|
|
|
|
|
|
Clients |
59,127,439 |
|
|
67,951,394 |
|
|
8,659,317 |
|
|
Brokers |
7,599,233 |
|
|
14,365,158 |
|
|
1,830,609 |
|
|
Clearing organizations |
393,782 |
|
|
1,359,746 |
|
|
173,278 |
|
|
Fund management companies and fund distributors |
56,690 |
|
|
49,545 |
|
|
6,314 |
|
|
Interest |
15,359 |
|
|
10,334 |
|
|
1,317 |
|
| Borrowings |
6,357,405 |
|
|
4,353,919 |
|
|
554,837 |
|
| Securities sold under
agreements to repurchase |
4,467,861 |
|
|
- |
|
|
- |
|
| Lease liabilities -
current |
96,860 |
|
|
104,121 |
|
|
13,269 |
|
| Accrued expenses and other
current liabilities |
2,176,213 |
|
|
1,800,952 |
|
|
229,502 |
|
| Total current
liabilities |
80,378,301 |
|
|
90,065,742 |
|
|
11,477,437 |
|
| |
|
|
|
|
|
| Lease liabilities -
non-current |
163,719 |
|
|
123,624 |
|
|
15,754 |
|
| Other non-current
liabilities |
10,935 |
|
|
16,094 |
|
|
2,051 |
|
| Total non-current
liabilities |
174,654 |
|
|
139,718 |
|
|
17,805 |
|
| Total
liabilities |
80,552,955 |
|
|
90,205,460 |
|
|
11,495,242 |
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| SHAREHOLDERS’
EQUITY |
|
|
|
|
|
| Class A ordinary shares |
58 |
|
|
58 |
|
|
7 |
|
| Class B ordinary shares |
38 |
|
|
38 |
|
|
5 |
|
| Additional paid-in
capital |
17,935,752 |
|
|
18,039,055 |
|
|
2,298,789 |
|
| Treasury Stock |
(1,178,755 |
) |
|
(3,909,782 |
) |
|
(498,239 |
) |
| Accumulated other
comprehensive income |
75,994 |
|
|
57,454 |
|
|
7,322 |
|
| Retained earnings |
4,152,472 |
|
|
5,365,997 |
|
|
683,810 |
|
| Total shareholders'
equity |
20,985,559 |
|
|
19,552,820 |
|
|
2,491,694 |
|
| Total liabilities and
shareholders' equity |
101,538,514 |
|
|
109,758,280 |
|
|
13,986,936 |
|
FUTU HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED
STATEMENTS OF COMPREHENSIVE INCOME
(In thousands, except for share and per
share data)
| |
For the Three Months Ended |
|
For the Six Months Ended |
| |
June 30,2021 |
|
June 30,2022 |
|
June 30,2022 |
|
June 30,2021 |
|
June 30,2022 |
|
June 30,2022 |
| |
HK$ |
|
HK$ |
|
US$ |
|
HK$ |
|
HK$ |
|
US$ |
| Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Brokerage commission and handling charge income |
797,738 |
|
|
1,033,780 |
|
|
131,739 |
|
|
2,122,679 |
|
|
2,001,246 |
|
|
255,027 |
|
| Interest income |
610,335 |
|
|
620,439 |
|
|
79,065 |
|
|
1,268,940 |
|
|
1,195,661 |
|
|
152,368 |
|
| Other income |
168,785 |
|
|
92,505 |
|
|
11,788 |
|
|
389,842 |
|
|
190,821 |
|
|
24,317 |
|
| Total
revenues |
1,576,858 |
|
|
1,746,724 |
|
|
222,592 |
|
|
3,781,461 |
|
|
3,387,728 |
|
|
431,712 |
|
| Costs |
|
|
|
|
|
|
|
|
|
|
|
| Brokerage commission and
handling charge expenses |
(145,165 |
) |
|
(87,232 |
) |
|
(11,116 |
) |
|
(359,002 |
) |
|
(183,221 |
) |
|
(23,349 |
) |
| Interest expenses |
(79,500 |
) |
|
(26,602 |
) |
|
(3,390 |
) |
|
(246,967 |
) |
|
(65,827 |
) |
|
(8,389 |
) |
| Processing and servicing
costs |
(54,166 |
) |
|
(94,058 |
) |
|
(11,986 |
) |
|
(116,024 |
) |
|
(186,799 |
) |
|
(23,805 |
) |
| Total
costs |
(278,831 |
) |
|
(207,892 |
) |
|
(26,492 |
) |
|
(721,993 |
) |
|
(435,847 |
) |
|
(55,543 |
) |
| Total gross
profit |
1,298,027 |
|
|
1,538,832 |
|
|
196,100 |
|
|
3,059,468 |
|
|
2,951,881 |
|
|
376,169 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Operating
expenses |
|
|
|
|
|
|
|
|
|
|
|
| Research and development
expenses |
(173,405 |
) |
|
(291,725 |
) |
|
(37,176 |
) |
|
(310,787 |
) |
|
(574,174 |
) |
|
(73,169 |
) |
| Selling and marketing
expenses |
(377,426 |
) |
|
(219,090 |
) |
|
(27,920 |
) |
|
(652,036 |
) |
|
(507,235 |
) |
|
(64,639 |
) |
| General and administrative
expenses |
(96,535 |
) |
|
(210,790 |
) |
|
(26,862 |
) |
|
(174,365 |
) |
|
(388,532 |
) |
|
(49,512 |
) |
| Total operating
expenses |
(647,366 |
) |
|
(721,605 |
) |
|
(91,958 |
) |
|
(1,137,188 |
) |
|
(1,469,941 |
) |
|
(187,320 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
| Others, net |
(25,874 |
) |
|
(95,494 |
) |
|
(12,169 |
) |
|
(19,593 |
) |
|
(115,819 |
) |
|
(14,759 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
| Income before income
tax expense and share of loss from equity method
investment |
624,787 |
|
|
721,733 |
|
|
91,973 |
|
|
1,902,687 |
|
|
1,366,121 |
|
|
174,090 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Income tax expense |
(90,896 |
) |
|
(70,650 |
) |
|
(9,003 |
) |
|
(206,497 |
) |
|
(143,198 |
) |
|
(18,248 |
) |
| Share of loss from equity
method investment |
- |
|
|
(9,398 |
) |
|
(1,198 |
) |
|
- |
|
|
(9,398 |
) |
|
(1,198 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
| Net
income |
533,891 |
|
|
641,685 |
|
|
81,772 |
|
|
1,696,190 |
|
|
1,213,525 |
|
|
154,644 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Net income
attributable to ordinary shareholders of the Company |
533,891 |
|
|
641,685 |
|
|
81,772 |
|
|
1,696,190 |
|
|
1,213,525 |
|
|
154,644 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Net income per share
attributable to ordinary shareholders of the Company |
|
|
|
|
|
|
|
|
|
|
|
| Basic |
0.44 |
|
|
0.56 |
|
|
0.07 |
|
|
1.45 |
|
|
1.05 |
|
|
0.13 |
|
| Diluted |
0.43 |
|
|
0.56 |
|
|
0.07 |
|
|
1.42 |
|
|
1.04 |
|
|
0.13 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Net income per
ADS |
|
|
|
|
|
|
|
|
|
|
|
| Basic |
3.54 |
|
|
4.50 |
|
|
0.57 |
|
|
11.56 |
|
|
8.38 |
|
|
1.07 |
|
| Diluted |
3.47 |
|
|
4.46 |
|
|
0.57 |
|
|
11.36 |
|
|
8.30 |
|
|
1.06 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Weighted average
number of ordinary shares used in computing net income per
share |
|
|
|
|
|
|
|
|
|
|
|
| Basic |
1,208,284,930 |
|
|
1,139,418,888 |
|
|
1,139,418,888 |
|
|
1,173,661,489 |
|
|
1,158,972,163 |
|
|
1,158,972,163 |
|
| Diluted |
1,228,898,637 |
|
|
1,149,398,944 |
|
|
1,149,398,944 |
|
|
1,194,580,873 |
|
|
1,169,572,515 |
|
|
1,169,572,515 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Net
income |
533,891 |
|
|
641,685 |
|
|
81,772 |
|
|
1,696,190 |
|
|
1,213,525 |
|
|
154,644 |
|
| Other comprehensive
income, net of tax |
|
|
|
|
|
|
|
|
|
|
|
| Foreign currency translation
adjustment |
9,446 |
|
|
(62,829 |
) |
|
(8,007 |
) |
|
2,954 |
|
|
(18,540 |
) |
|
(2,363 |
) |
| Total comprehensive
income |
543,337 |
|
|
578,856 |
|
|
73,765 |
|
|
1,699,144 |
|
|
1,194,985 |
|
|
152,281 |
|
FUTU HOLDINGS LIMITED
UNAUDITED RECONCILIATIONS OF NON-GAAP AND
GAAP RESULTS
(In thousands)
| |
For the Three Months Ended |
|
For the Six Months Ended |
|
|
June 30,2021 |
|
June 30,2022 |
|
June 30,2022 |
|
June 30,2021 |
|
June 30,2022 |
|
June 30,2022 |
| |
HK$ |
|
HK$ |
|
US$ |
|
HK$ |
|
HK$ |
|
US$ |
| |
|
|
|
|
|
|
|
|
|
|
|
| Net income |
533,891 |
|
641,685 |
|
81,772 |
|
1,696,190 |
|
1,213,525 |
|
154,644 |
| Add: Share-based compensation
expenses |
16,543 |
|
46,863 |
|
5,972 |
|
33,416 |
|
97,251 |
|
12,393 |
| Adjusted net income |
550,434 |
|
688,548 |
|
87,744 |
|
1,729,606 |
|
1,310,776 |
|
167,037 |
| |
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP to GAAP reconciling items have no income tax
effect.
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