- Users Number of Moomoo and Its Sister Brand
Futubull Achieves 19.15 Million
PALO
ALTO, Calif., Nov. 21,
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 third quarter ending September 30, 2022, with US$247.9 million (HK$1.95
billion) total revenues, and US$102.7
million (HK$806.1 million)
non-GAAP adjusted net income.
Financial and strategic highlights of the third quarter:
- As of quarter end, the total number of users of moomoo and its
sister brand Futubull increased 15.6% year-over-year to 19.15
million.
- Total number of registered clients increased 21.4%
year-over-year to 3.13 million.
- Total number of paying clients increased 23.8% year-over-year
to 1.45 million.
- The number of newly acquired paying clients in the third
quarter was 58,000, with approximately 90% of them being from
the United States, Hong Kong SAR,
Singapore, Australia, etc.
- By the end of the third quarter, the total client assets
amounted to US$47.1 billion
(HK$369.6 billion). In Singapore, the total client assets increased
by 77.8% year-over-year.
- The quarterly client retention rate remained high at 98%.
- Corporate and institutional services continued to thrive with
IPO and IR clients totaling 301, an increase of 40% YoY. The number
of ESOP clients reached 572, representing an increase of 76%
YoY.
- Total client assets in its wealth management business reached
US$3.31 billion (HK$25.97 billion) in the third quarter,
representing a 46.7% growth YoY. The company has collaborated with
68 world-renowned global financial institutions in offering diverse
fund products to clients, with two new partners onboarded this
quarter.
"On Celebrating our 10th Anniversary, we are glad to
see more profound achievements in entering new markets and
expanding our business worldwide. In the third quarter, we
continued to achieve solid growth with increasing users and clients
joining us. Our unwavering efforts in sharpening technology edge,
bringing new features and upgraded products to fulfill unmet
demands across various markets are the key to locking in high-level
user loyalty for our brands. The client retention rate
remained high at approximately 98% during the period." said Mr.
Leaf Hua Li, Futu's Founder, Chairman, CEO and Chairman of the
Technology Committee.
In July, major global rating agency Standard & Poor's
reaffirmed Futu's investment grade long-term issuer credit rating
at BBB- and maintained its stable outlook on the long-term rating.
S&P highlighted Futu's capital adequacy, business
diversification and expansion strategy to international markets.
S&P expected Futu to maintain its risk appetite, underwriting
standards, and good loan quality while expanding the business scope
and international outreach over the next 24 months.
Futu Reinforces Market Leadership in Hong Kong with Diverse Products and App
Features
In the third quarter, Futu reinforced its leading position among
digitalized brokerages in Hong
Kong and saw its users and clients increase steadily. Futu
has been relentlessly ramping up its products and service diversity
through technology and operational advancement. The Futubull app
introduced several new product features, including Monthly Stocks
Savings Plan, which enables clients to take a dollar-cost averaging
investing approach, a sought-after feature to minimize the impacts
of volatility when investing.
This quarter marked the company's new subscription service for
the government's Silver Bond issuance in Hong Kong, an investment product designed to
provide steady returns for Hong
Kong residents aged 65 years and above. Numerous offline
service points and a 24-hour hotline smoothed the senior
generation's journey to digital investments.
In the first three quarters of 2022, Futu ranked second among
local securities firms in IPO underwriting by providing such
services to 23 companies in the Hong
Kong market. Futu's institutional and corporate
services brand remains the top choice for companies seeking
ESOP solutions, especially those in the healthcare, automotive
logistics, TMT, entertainment and cutting-edge technology
industries.
Futu's wealth management business partnered with 68 global fund
companies to offer services to various investors, with two new
partners onboarded in the third quarter. As of quarter end,
alternative assets saw rapid growth with assets under management
(AUM) in private equity improving 67.4% sequentially.
Moomoo Singapore Posts Significant Performance in Wealth
Management
In Singapore, Moomoo Financial
Singapore Pte. Ltd ("moomoo SG") continued to attract savvy and
seasoned investors and increased its AUM by 77.8% YoY. The moomoo
investment super-app is used by one-fifth of the local adult
population aged 20-70. Moomoo SG responded to the surging need for
portfolio diversification amid inflation by launching a cash
management solution, Moomoo Cash Plus which enables clients to put
their idle cash to work.
The company collaborated with CSOP Asset Management to launch
the first T+0 subscription and redemption of USD money market
funds. As of quarter end, wealth management AUM in Singapore jumped 408% QoQ and the number of
fund investors climbed 203% QoQ.
In the third quarter, moomoo's institutional and corporate
services business continued its growth momentum and provided IR
services to companies such as The Place Holdings. Meanwhile, moomoo
SG was appointed by Lincotrade & Associates Ltd. as the joint
placement agent in the placement for the company.
moomoo SG is committed to the communities it serves in
Singapore. It promotes financial
education by hosting educational events and seminars. It held the
Paper Trading Competition for Charity, enhancing collaboration with
institutional and industry partners to promote financial and
investing literacy. In July, moomoo SG held its first large-scale
in-person seminar with Singapore Exchange. The seminar attended by
a packed audience promoted investor education. In August, moomoo
participated in INVEST Fair and took the opportunity to highlight
the power of financial technology.
Trading Platform Moomoo's Popularity Grows Rapidly in the US
and Australia Thanks to Strong R&D Capability
During the third quarter, moomoo launched several popular new
product features to help investors ride the market. This included
two significant features—Earnings Calendar and Industrial
Chain.
The new Earnings Calendar feature provides quick access for
users to stay alert to a company's earnings call during the busy
earnings season. The Earnings Interpretations feature is also
available to help investors make more informed investment
decisions.
The Industrial Chain is an intuitive feature that enables users
to view companies in 16 industries' upstream and downstream
businesses, making it possible for investors to seize investment
opportunities and trade like a pro.
In the US, nine YouTubers—including technical analysts,
financial influencers and personal finance coaches—participated in
moomoo's September Tutorial Video Challenge by filming their user
journey with the app's new Earnings Calendar feature. These videos
gained almost 100,000 votes in total from moomoo users.
Moomoo also collaborated with other renowned financial educators
and influencers at FinCon 2022, an influential financial blogger
conference in the US. Having established itself in the Bay Area
over the last few years, moomoo is dedicated to enhancing brand
awareness across the US.
In Australia, moomoo partnered
with Macquarie University to launch a national research study,
which investigates how sustainable trading education and
transparency of corporate social responsibility credentials impact
Australian investor behavior. The industry-first study will
explore the behavior of multiple groups of investors to understand
how face-to-face education or exposure to a company's ESG score
influence a person's decision to invest. Research participants will
use moomoo's simulated trading environment that reflects actual
trading conditions with real market data.
Moomoo also joined the largest online investment summit for
financial content creators in Australia—the 2022 Entrepreneur
Summit hosted by Henry Wei, which is
greatly expanding its presence in the Australian market.
Moomoo and its parent company Futu remain committed to promoting
financial literacy, investor education and responsible investing
for investors of all levels. A new feature, Study Plan, was
launched to help expand users' financial knowledge base via
well-designed investing curriculums. As of quarter end, the company
rolled out more than 3,000 courses online in English and Chinese,
including 757 articles and 204 videos on moomoo.
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 Futu Holdings Limited ("Futu"), a
Nasdaq-listed fintech company headquartered in Hong Kong SAR.
Futu's subsidiary is also one of the largest brokerages
in Hong Kong SAR. Futu listed on Nasdaq (stock symbol: FUTU)
on March 8, 2019.
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 features embedded social media tools creating a
network centered around its users and providing an investment
community for users, investors, companies, analysts, media, and key
opinion leaders.
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SOURCE Futu Holdings Limited