- Users Number of Moomoo and Its
Sister Brand Futubull Increased 20% YoY to 18.6 Million
PALO
ALTO, Calif., Aug. 30,
2022 /PRNewswire/ -- Moomoo's parent company Futu
Holdings Limited (Nasdaq: FUTU) (Futu), a leading tech-driven
digital brokerage and wealth management platform, reported stable
growth for the second quarter ending June
30, 2022, with US$222.6
million (HK$1.75 billion)
total revenues, and US$87.7 million
(HK$688.5 million) non-GAAP adjusted
net income.
Financial and strategic highlights of the second quarter:
- As of quarter end, the total number of users of moomoo and its
sister brand Futubull increased 20.0% year-over-year to 18.6
million.
- Total number of registered clients increased 30.5%
year-over-year to more than three million.
- Total number of paying clients increased 38.6% year-over-year
to 1.4 million.
- The number of newly acquired paying clients in the second
quarter was 61,000, with approximately 90% of them from
the United States, Hong Kong SAR,
Singapore, and Australia markets.
- By the end of the second quarter, the total client assets
amounted to US$55.3 billion
(HK$433.6 billion), an increase of
12.3% from the previous quarter.
- The quarterly client retention rate hit a historic high of
almost 99%.
- Corporate and institutional services continued to thrive with
IPO and IR clients totaling 276, an increase of 48.4% YoY. The
number of ESOP clients reached 519, representing an increase of
97.3% YoY.
- Total client assets in its wealth management business reached
US$2.8 billion (HK$21.9 billion) in the second quarter,
representing a 58.8% growth YoY. The company has collaborated with
66 world-renowned global financial institutions in offering diverse
fund products to clients, adding two new partners in the second
quarter.
- As of the quarter end, Futu has acquired 51 licenses and
qualifications from regulators across major financial markets; and
its subsidiary Moomoo Financial Singapore Pte. Ltd. officially
became the first digital brokerage to receive all five memberships
from the SGX Group for both the Securities and Derivatives markets,
strengthening its leading position in the industry. Another
subsidiary Futu Trustee (Singapore) Pte. Ltd. obtained a trust business
license from the Monetary Authority of Singapore (MAS) and became one of the 63 trust
business licencees approved by MAS.
"Approximately 90% of our newly acquired paying clients in the
second quarter were from the United
States, Hong Kong SAR, Singapore, and Australia markets, compared with 80% in the
previous quarter. Our international expansion was sustained by
catering unmet and diverse needs from global investors." said Mr.
Leaf Hua Li, Futu's Founder, Chairman, CEO & Chairman of the
Technology Committee.
"Our corporate and institutional services business and wealth
management business both posted a strong performance in the second
quarter as we commit ourselves to relentless product and service
expansion driven by technology and operational excellence, together
with a well-established market presence worldwide."
Futu strengthens its dominant market share in Hong Kong market as the leading industry
player
As of quarter end, Futu's Hong
Kong users accounted for more than 40% of Hong Kong's adult population. Meanwhile, the
number of Hong Kong paying clients
continued to grow.
During the second quarter, an average Hong Kong user spent approximately half an
hour on the Futubull app each trading day, with approximately
355,000 daily active users generating over 80,000 posts per trading
day on Futubull's interactive investor community.
Additionally, Futubull has become a popular platform for bond
subscription in Hong Kong SAR. In April, more than 88,000
Hong Kong investors subscribed to
the Green Bond issued by Hong Kong SAR government via Futubull,
accounting for 18% of total valid applications.
In the first half of 2022, Futu provided IPO underwriting for 12
companies in Hong Kong SAR, ranking first among local securities
firms. New IPO clients in the second quarter included Tianqi
Lithium Corporation, Yunkang Group, Yoho Group, and GOGOX
Holdings.
For the wealth management business, Abrdn started to provide
model portfolio services on Futu's platform with diversified asset
allocation strategies in the second quarter, following BNY Mellon
Investment Management, GaoTeng Global Asset Management and E Fund
(HK), who launched these services in the previous quarter.
Moreover, Futu held the mid-year investment strategy sessions
with more than ten well-known global companies such as BlackRock
and Morgan Stanley attending, attracting more than 110,000
participants.
During the quarter, Futu further optimized product features and
expanded product offerings in an endeavor to enhance clients'
investing experience. In the Hong
Kong market, Futu debuted structured note products, enabling
clients to invest in mutual funds with stock collateral, and
allowing clients to enjoy yields on their private investment funds
before capital was called.
Moomoo Singapore becomes the first digital brokerage with all
five SGX memberships for both the Securities and Derivatives
markets
In June 2022, Moomoo Financial
Singapore Pte. Ltd. (Moomoo Singapore) officially became the first
digital brokerage to receive all five memberships from the
Singapore Exchange for both the Securities and Derivatives markets,
strengthening its leading position in the industry.
As of quarter end, Futu Trustee (Singapore) Pte. Ltd. obtained a trust business
license from the Monetary Authority of Singapore (MAS), laying a solid foundation for
its trust business development in Hong Kong SAR and Singapore, two of the most prominent financial
hubs worldwide. With this license, Futu can provide a comprehensive
range of trust services, including ESOP trusts, family trusts and
family office services to Asian and global corporate clients or
high-net-worth clients.
After 16-month operations in Singapore, moomoo is now highly recognized by
local investors. As of June 2022, the
number of moomoo's Singapore users
accounted for 22.1% of Singapore's
population aged between 20 and 70. Singapore clients' AUM continued to increased,
up 144.7% YoY.
In Singapore, Moomoo Singapore
became the first digital brokerage to lead an IPO project as the
main placing agent and underwriter, while providing services for
Internet of Things solution provider iWOW. Moomoo attracted the
highest number of subscribers, taking up 80% of the total number.
Additionally, Moomoo Singapore served as a participating dealer for
the listing of Lion-OCBC Securities Singapore Low Carbon ETF,
and achieved the highest number of subscribers and subscription
amount during the Initial Offer Period.
In the second quarter, AUM of the wealth management business in
Singapore surged 377.4% from the
previous quarter and the fund holders grew 191.3% sequentially.
Besides the launch of liquid funds and fund portfolios, moomoo also
now supports investment into regular savings plans directly from
bank accounts in Singapore, which
is sought after by clients looking for disciplined investment
approaches.
Moomoo keeps promoting responsible investing with better
trading tools
In the United States, moomoo
continued to gain traction among investors who seek better tools to
trade with more agility and confidence in the US.
Moomoo offers some of the most innovative features for retail
investors, including the cross-exchange comparison of execution
prices, Level 2 quotes from market makers and ECNs, and extended
trading hours from 4 am to 8 pm EDT.
Moomoo endeavors to diminish the information gap between retail
investors and institutional investors by providing market data and
professional tools that were previously only available to
institutional investors.
To better cater to various investing needs, moomoo continued to
seek more strategic partnerships to offer a wider spectrum of
quotes in the second quarter, adding US futures Level 2 quotes, SGX
odd-lot quotes, and CBOE Australia ETFs quotes for users
worldwide.
In April, moomoo celebrated National Financial Literacy Month by
launching a trading knowledge quiz with prizes, aiming to promote
public financial intelligence. Due to overwhelming user
participation and enthusiasm for this event, moomoo doubled the
size of the prize pool to 1,000 AAPL shares. The event attracted
more than 13,600 challengers, and among them, 8,100 investors
successfully answered all questions.
In Australia, moomoo expanded
its footprint by sharing investing insights and promoting
responsible investments. In June, moomoo shared global
macroeconomic forecasts, future market trends and investment
strategies to more than 300 high-net-worth investors attending the
seminars.
Futu promotes a more inclusive and better society with
relentless innovation and product excellence
During the second quarter, moomoo and Futubull launched an
innovative feature to provide better accessibility to users with
red-green color vision deficiency. Understanding that color has
power to influence a user's purchase decisions and overall user
experience, Futu improved color accessibility by allowing users to
tailor color combinations for a better investing experience on its
apps.
Leaf said: "As a tech-driven brokerage, Futu always believes in
the power of technological advancement and innovation in promoting
financial inclusion for all, upholding the corporate mission of
making investing easier and not alone. Our dedication and R&D
efforts made to optimize products and user experience further
enhanced our leadership position in various markets."
To make it possible for everyone to embark on a financial
journey, Futu remains committed to intensifying investment to
promote financial literacy, investment education and responsible
investing for investors of all kinds. As of quarter end, the
company rolled out almost 2,500 investing courses online,
delivering easy-to-learn content in stories, infographics, gif
images, videos, animation clips, live streams, etc., to equip
investors with concepts and tactics to navigate diverse challenges
and capture opportunities in the volatile market.
About moomoo
Moomoo is a next-generation one-stop digital financial services
platform created by Moomoo Technologies Inc., a fintech company
based in Palo Alto, California.
Moomoo integrates trading, market data, and social networking
with advanced features, such as AI-powered analytics and anomaly
detection functions. It supports free online account-opening and
provides access to trade 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 over 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 SAR. Futu's subsidiary is also one of the largest brokerages
in Hong Kong SAR. On March 8, 2019, Futu was listed on
Nasdaq (stock symbol: FUTU).
For more information, please visit moomoo's official website
at www.moomoo.com.
About Futu
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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/futu-holdings-sustains-solid-growth-in-q2-with-us222-6-million-total-revenues-301614541.html
SOURCE Futu Holdings Limited