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 third quarter ended September 30, 2022.
Third Quarter 2022 Operational
Highlights
- Total number of paying
clients1 increased 23.8% year-over-year
to 1,444,955 as of September 30, 2022.
- Total number of registered
clients2 increased 21.4% year-over-year
to 3,132,800 as of September 30, 2022.
- Total number of
users3 increased 15.6 % year-over-year to
19.2 million as of September 30, 2022.
- Total client
assets declined 12.8% year-over-year to HK$369.6 billion
as of September 30, 2022.
- Daily average client
assets were HK$416.5 billion in the third quarter of 2022,
a decrease of 6.2% from the same period in 2021.
- Total trading volume in the
third quarter of 2022 declined 19.7% year-over-year to
HK$1.1 trillion, in which trading volume for U.S. stocks was
HK$752.0 billion, trading volume for Hong Kong stocks was HK$303.6
billion, and trading volume for stocks under the Stock Connect was
HK$26.2 billion.
- Daily average revenue
trades (DARTs)4 in the third
quarter of 2022 declined 22.3% year-over-year to
448,309.
- Margin financing and
securities lending balance declined 6.5% year-over-year to
HK$29.6 billion as of September 30, 2022.
Third Quarter 2022 Financial Highlights
- Total revenues increased 12.4% year-over-year
to HK$1,945.6 million (US$247.9 million).
- Total gross profit increased 18.0%
year-over-year to HK$1,727.5 million (US$220.1 million).
- Net income increased 22.7% year-over-year to
HK$754.6 million (US$96.1 million).
- Non-GAAP adjusted net income5
increased 24.8% year-over-year to HK$806.1 million (US$102.7
million).
Mr. Leaf Hua Li, Futu’s Chairman and Chief
Executive Officer, said, “Total paying clients grew by 58 thousand
to 1.44 million, representing a 23.8% year-over-year growth. New
paying clients in Singapore increased by about one-third
sequentially as we launched online and offline marketing campaigns
around low-risk mutual fund products and expanded client
acquisition channels. Paying client growth in the U.S. remained
robust as we iterated on online marketing and deepened our
collaboration with KOLs. Client acquisition decelerated in Hong
Kong due to sluggish equity market performance and limited traction
of our promotion of silver bond. Although client growth trended
down sequentially, we are encouraged to see that our paying clients
were sticky as ever – quarterly paying client retention rate
remained above 98% across all markets.”“Total client assets
declined 12.8% year-over-year and 14.7% quarter-over-quarter to
HK$369.6 billion. The sequential decline was mainly due to lower
market valuation on clients’ stock holdings, partially offset by
strong net asset inflow despite market volatility. In Singapore,
total client assets increased by 11% quarter-over-quarter,
attributable to asset inflow across cohorts and higher-quality new
clients. Margin financing and securities lending balance increased
by 2.3% sequentially due to clients’ bottom fishing of Chinese
technology stocks.”
“Equity market plunge led to a 19.5%
quarter-over-quarter decline of total trading volume to HK$1.1
trillion. Hong Kong stock trading volume declined 28.3% to HK$303.6
billion amid deteriorating market sentiments across all sectors.
U.S. stock trading volume was HK$752.0 billion, down 16.2%
quarter-over-quarter. The decline was mainly due to lower trading
turnover of technology names, partially offset by strong trading
interests in leveraged and inverse ETFs.”
“Total client assets in wealth management
reached HK$26.0 billion, representing a 46.7% growth year-over-year
and 18.7% growth quarter-over-quarter. In Singapore, wealth
management asset balance grew five-fold sequentially as we further
expanded fund offerings and upgraded product features. We launched
SmartSave in Singapore that allows our clients to automatically
subscribe for and redeem SGD- and USD-denominated money market
funds, whose returns have become increasingly attractive amid
interest rate hikes. Client assets in private funds increased by
67% sequentially as we onboarded a cash management product that
offers attractive yield and liquidity for professional investors.
As of quarter end, 17% of our paying clients held wealth management
positions, up from 15% in the previous quarter.”
“Our enterprise business had 301 IPO and IR
clients as well as 572 ESOP clients as of quarter end, up 40.0% and
76.0% year-over-year. More than 50 companies adopted our ESOP
services during the quarter, including Ganfeng Lithium and
MicroPort.”
Third Quarter 2022 Financial Results
Revenues
Total revenues were HK$1,945.6 million (US$247.9
million), an increase of 12.4% from HK$1,731.1 million in the third
quarter of 2021.
Brokerage commission and handling charge income
was HK$957.8 million (US$122.0 million), an increase of 2.6% from
the third quarter of 2021. The expansion of blended commission rate
from 6.9bps to 8.8bps more than offset the year-over-year decrease
in trading volume.
Interest income was HK$880.8 million (US$112.2
million), an increase of 39.4% from the third quarter of 2021. The
increase was mainly driven by higher interest income from bank
deposits amid rate hikes despite lower margin financing income and
IPO financing interest income.
Other income was HK$107.0 million (US$13.6
million), a decrease of 35.5% from the third quarter of 2021. The
decrease was primarily attributable to lower IPO financing service
charge income, enterprise public relations service charge income
and currency exchange service income.
Costs
Total costs were HK$218.1 million (US$27.8
million), a decrease of 18.4% from HK$267.2 million in the third
quarter of 2021.
Brokerage commission and handling charge
expenses were HK$82.6 million (US$10.5 million), a decrease of
34.2% from the third quarter of 2021. Brokerage commission expenses
declined due to cost savings from our U.S. self-clearing business
and lower trading volume.
Interest expenses were HK$44.7 million (US$5.7
million), a decrease of 39.8% from the third quarter of 2021. The
decrease was due to lower margin financing interest expenses and
lower expenses associated with our securities borrowing and lending
business.
Processing and servicing costs were HK$90.8
million (US$11.6 million), an increase of 34.7% from the third
quarter of 2021. The increase was primarily due to higher cloud
service fees to support overseas market expansion.
Gross Profit
Total gross profit was HK$1,727.5 million
(US$220.1 million), an increase of 18.0% from HK$1,463.8 million in
the third quarter of 2021. Gross margin was 88.8%, as compared to
84.6% in the third quarter of 2021.
Operating Expenses
Total operating expenses were HK$761.2 million
(US$97.0 million), a decrease of 0.3% from HK$763.8 million in the
third quarter of 2021.
Research and development expenses were HK$313.4
million (US$39.9 million), an increase of 40.0% from the third
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 in existing and new markets.
Selling and marketing expenses were HK$235.5
million (US$30.0 million), a decrease of 41.6% from HK$403.1
million in the third quarter of 2021. The decrease was mainly due
to fewer net new paying clients in the quarter.
General and administrative expenses were
HK$212.3 million (US$27.0 million), an increase of 55.2% from the
third quarter of 2021. The increase was primarily due to an
increase in general and administrative personnel.
Net Income
Net income increased by 22.7% to HK$754.6
million (US$96.1 million) from HK$615.2 million in the third
quarter of 2021. Net income margin for the third quarter of 2022
was 38.8%, compared with 35.5% in the year-ago quarter.
Non-GAAP adjusted net income increased by 24.8%
to HK$806.1million (US$102.7 million) from the third 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$5.37 (US$0.68), compared with HK$4.00 in the third
quarter of 2021. Diluted net income per ADS was HK$5.30 (US$0.68),
compared with HK$3.94 in the third 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 Monday, November 21, 2022, at 7:30 AM U.S.
Eastern Time (8:30 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
linkhttps://register.vevent.com/register/BIca2bc9c5992e46bb83d642235c97c935.It
will automatically lead to the registration page of "Futu Holdings
Ltd Third 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$7.8498 to US$1.00, the noon buying rate in effect on
September 30, 2022 in the H.10 statistical release of the Federal
Reserve Board. The Company makes no representation that the HK$ 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
FUTU HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS
(In thousands,
except for share
and per share
data)
|
As of December 31 |
|
As of September 30 |
|
2021 |
|
2022 |
|
2022 |
|
HK$ |
|
HK$ |
|
US$ |
ASSETS |
|
|
|
|
|
Cash and cash equivalents |
4,555,096 |
|
6,865,549 |
|
874,615 |
Cash held on behalf of
clients |
54,734,351 |
|
52,662,417 |
|
6,708,759 |
Restricted cash |
2,065 |
|
1,870 |
|
238 |
Term deposit |
- |
|
5,450 |
|
694 |
Short-term investments |
1,169,741 |
|
13,373 |
|
1,704 |
Securities purchased under
agreements to resell |
106,203 |
|
22,349 |
|
2,847 |
Loans and advances - current
(net of allowance of HK$12,258 thousand and HK$25,913 thousand as
of December 31, 2021 and September 30, 2022, respectively) |
29,587,306 |
|
29,720,594 |
|
3,786,159 |
Receivables: |
|
|
|
|
|
Clients |
469,577 |
|
271,855 |
|
34,632 |
Brokers |
7,893,927 |
|
5,068,471 |
|
645,682 |
Clearing organizations |
1,961,121 |
|
1,601,026 |
|
203,958 |
Fund management companies and fund distributors |
72,340 |
|
80,584 |
|
10,266 |
Interest |
50,829 |
|
146,338 |
|
18,642 |
Prepaid assets |
18,306 |
|
25,711 |
|
3,275 |
Other current assets |
81,594 |
|
110,153 |
|
14,033 |
Total current
assets |
100,702,456 |
|
96,595,740 |
|
12,305,504 |
|
|
|
|
|
|
Operating lease right-of-use
assets |
243,859 |
|
200,030 |
|
25,482 |
Long-term investments |
23,394 |
|
245,724 |
|
31,303 |
Loans and advances -
non-current |
- |
|
37,013 |
|
4,715 |
Other non-current assets |
568,805 |
|
943,140 |
|
120,147 |
Total non-current
assets |
836,058 |
|
1,425,907 |
|
181,647 |
Total
assets |
101,538,514 |
|
98,021,647 |
|
12,487,151 |
LIABILITIES |
|
|
|
|
|
Amounts due to related parties |
87,459 |
|
|
53,602 |
|
|
6,828 |
|
Payables: |
|
|
|
|
|
Clients |
59,127,439 |
|
|
54,948,151 |
|
|
6,999,943 |
|
Brokers |
7,599,233 |
|
|
12,231,738 |
|
|
1,558,223 |
|
Clearing organizations |
393,782 |
|
|
2,050,313 |
|
|
261,193 |
|
Fund management companies and fund distributors |
56,690 |
|
|
71,143 |
|
|
9,063 |
|
Interest |
15,359 |
|
|
15,340 |
|
|
1,954 |
|
Borrowings |
6,357,405 |
|
|
6,547,293 |
|
|
834,071 |
|
Securities sold under
agreements to repurchase |
4,467,861 |
|
|
- |
|
|
- |
|
Lease liabilities -
current |
96,860 |
|
|
105,536 |
|
|
13,444 |
|
Accrued expenses and other
current liabilities |
2,176,213 |
|
|
1,683,822 |
|
|
214,505 |
|
Total current
liabilities |
80,378,301 |
|
|
77,706,938 |
|
|
9,899,224 |
|
|
|
|
|
|
|
Lease liabilities -
non-current |
163,719 |
|
|
107,740 |
|
|
13,725 |
|
Other non-current
liabilities |
10,935 |
|
|
20,726 |
|
|
2,641 |
|
Total non-current
liabilities |
174,654 |
|
|
128,466 |
|
|
16,366 |
|
Total
liabilities |
80,552,955 |
|
|
77,835,404 |
|
|
9,915,590 |
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS’
EQUITY |
|
|
|
|
|
Class A ordinary shares |
58 |
|
|
63 |
|
|
8 |
|
Class B ordinary shares |
38 |
|
|
33 |
|
|
4 |
|
Additional paid-in
capital |
17,935,752 |
|
|
18,091,374 |
|
|
2,304,692 |
|
Treasury Stock |
(1,178,755 |
) |
|
(3,975,219 |
) |
|
(506,410 |
) |
Accumulated other
comprehensive income/(loss) |
75,994 |
|
|
(50,648 |
) |
|
(6,452 |
) |
Retained earnings |
4,152,472 |
|
|
6,120,640 |
|
|
779,719 |
|
Total shareholders'
equity |
20,985,559 |
|
|
20,186,243 |
|
|
2,571,561 |
|
Total liabilities and
shareholders' equity |
101,538,514 |
|
|
98,021,647 |
|
|
12,487,151 |
|
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 Nine Months Ended |
|
September 30,2021 |
|
September 30,2022 |
|
September 30,2022 |
|
September 30,2021 |
|
September 30,2022 |
|
September 30,2022 |
|
HK$ |
|
HK$ |
|
US$ |
|
HK$ |
|
HK$ |
|
US$ |
Revenues |
|
|
|
|
|
|
|
|
|
|
|
Brokerage commission and handling charge income |
933,412 |
|
|
957,804 |
|
|
122,016 |
|
|
3,056,091 |
|
|
2,959,050 |
|
|
377,084 |
|
Interest income |
631,668 |
|
|
880,823 |
|
|
112,210 |
|
|
1,900,608 |
|
|
2,076,484 |
|
|
264,615 |
|
Other income |
165,970 |
|
|
106,953 |
|
|
13,625 |
|
|
555,812 |
|
|
297,774 |
|
|
37,947 |
|
Total
revenues |
1,731,050 |
|
|
1,945,580 |
|
|
247,851 |
|
|
5,512,511 |
|
|
5,333,308 |
|
|
679,646 |
|
Costs |
|
|
|
|
|
|
|
|
|
|
|
Brokerage commission and
handling charge expenses |
(125,460 |
) |
|
(82,574 |
) |
|
(10,519 |
) |
|
(484,462 |
) |
|
(265,795 |
) |
|
(33,871 |
) |
Interest expenses |
(74,319 |
) |
|
(44,698 |
) |
|
(5,694 |
) |
|
(321,286 |
) |
|
(110,525 |
) |
|
(14,085 |
) |
Processing and servicing
costs |
(67,439 |
) |
|
(90,843 |
) |
|
(11,573 |
) |
|
(183,463 |
) |
|
(277,642 |
) |
|
(35,381 |
) |
Total
costs |
(267,218 |
) |
|
(218,115 |
) |
|
(27,786 |
) |
|
(989,211 |
) |
|
(653,962 |
) |
|
(83,337 |
) |
Total gross
profit |
1,463,832 |
|
|
1,727,465 |
|
|
220,065 |
|
|
4,523,300 |
|
|
4,679,346 |
|
|
596,309 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses |
|
|
|
|
|
|
|
|
|
|
|
Research and development
expenses |
(223,905 |
) |
|
(313,439 |
) |
|
(39,930 |
) |
|
(534,692 |
) |
|
(887,613 |
) |
|
(113,112 |
) |
Selling and marketing
expenses |
(403,065 |
) |
|
(235,457 |
) |
|
(29,995 |
) |
|
(1,055,101 |
) |
|
(742,692 |
) |
|
(94,644 |
) |
General and administrative
expenses |
(136,782 |
) |
|
(212,270 |
) |
|
(27,041 |
) |
|
(311,147 |
) |
|
(600,802 |
) |
|
(76,563 |
) |
Total operating
expenses |
(763,752 |
) |
|
(761,166 |
) |
|
(96,966 |
) |
|
(1,900,940 |
) |
|
(2,231,107 |
) |
|
(284,319 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Others, net |
9,902 |
|
|
(103,356 |
) |
|
(13,167 |
) |
|
(9,691 |
) |
|
(219,175 |
) |
|
(27,930 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Income before income
tax expense and share of loss from equity method
investment |
709,982 |
|
|
862,943 |
|
|
109,932 |
|
|
2,612,669 |
|
|
2,229,064 |
|
|
284,060 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense |
(94,771 |
) |
|
(104,374 |
) |
|
(13,296 |
) |
|
(301,268 |
) |
|
(247,572 |
) |
|
(31,549 |
) |
Share of loss from equity
method investment |
- |
|
|
(3,926 |
) |
|
(500 |
) |
|
- |
|
|
(13,324 |
) |
|
(1,698 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Net
income |
615,211 |
|
|
754,643 |
|
|
96,136 |
|
|
2,311,401 |
|
|
1,968,168 |
|
|
250,813 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to ordinary shareholders of the Company |
615,211 |
|
|
754,643 |
|
|
96,136 |
|
|
2,311,401 |
|
|
1,968,168 |
|
|
250,813 |
|
Net income per share
attributable to ordinary shareholders of the Company |
|
|
|
|
|
|
|
|
|
|
|
Basic |
0.50 |
|
0.67 |
|
|
0.09 |
|
|
1.94 |
|
1.72 |
|
|
0.22 |
|
Diluted |
0.49 |
|
0.66 |
|
|
0.08 |
|
|
1.91 |
|
1.70 |
|
|
0.22 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per
ADS |
|
|
|
|
|
|
|
|
|
|
|
Basic |
4.00 |
|
5.37 |
|
|
0.68 |
|
|
15.50 |
|
13.72 |
|
|
1.75 |
|
Diluted |
3.94 |
|
5.30 |
|
|
0.68 |
|
|
15.26 |
|
13.59 |
|
|
1.73 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in computing net income per
share |
|
|
|
|
|
|
|
|
|
|
|
Basic |
1,229,645,101 |
|
1,124,883,590 |
|
|
1,124,883,590 |
|
|
1,192,527,761 |
|
1,147,484,439 |
|
|
1,147,484,439 |
|
Diluted |
1,247,110,187 |
|
1,138,110,884 |
|
|
1,138,110,884 |
|
|
1,212,191,974 |
|
1,158,401,576 |
|
|
1,158,401,576 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income |
615,211 |
|
754,643 |
|
|
96,136 |
|
|
2,311,401 |
|
1,968,168 |
|
|
250,813 |
|
Other comprehensive
income/(loss), net of tax |
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation
adjustment |
21,130 |
|
(108,102 |
) |
|
(13,771 |
) |
|
24,084 |
|
(126,642 |
) |
|
(16,138 |
) |
Total comprehensive
income |
636,341 |
|
646,541 |
|
|
82,365 |
|
|
2,335,485 |
|
1,841,526 |
|
|
234,675 |
|
FUTU HOLDINGS
LIMITEDUNAUDITED RECONCILIATIONS OF NON-GAAP AND
GAAP RESULTS(In thousands)
|
For the Three Months Ended |
|
For the Nine Months Ended |
|
September 30,2021 |
|
September 30,2022 |
|
September 30,2022 |
|
September 30,2021 |
|
September 30,2022 |
|
September 30,2022 |
|
HK$ |
|
HK$ |
|
US$ |
|
HK$ |
|
HK$ |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
615,211 |
|
754,643 |
|
96,136 |
|
2,311,401 |
|
1,968,168 |
|
250,813 |
Add: Share-based compensation
expenses |
30,879 |
|
51,454 |
|
6,555 |
|
64,295 |
|
148,705 |
|
18,950 |
Adjusted net income |
646,090 |
|
806,097 |
|
102,691 |
|
2,375,696 |
|
2,116,873 |
|
269,763 |
Non-GAAP to GAAP reconciling items have no income tax
effect.
_________________
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.
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