moomoo further diversifies businesses and sharpens long-term
globalization strategy in Q4
ALTO, Calif., March 28,
2023 /PRNewswire/ -- Moomoo's parent company Futu
Holdings Limited (Nasdaq: FUTU) ("Futu", the "Company"), a leading
tech-driven digital brokerage and wealth management platform,
reported its unaudited financial results for the fourth quarter of
2022. The Company recorded
US$292.3 million (HK$2.28 billion) total revenues and US$130 million (HK$1.01
billion) non-GAAP adjusted net income, representing a
year-over-year increase of 42.3% and 90.2%
The Company recorded US$976
million (HK$7.61 billion)
total revenues and US$401.4 million
(HK$3.13 billion) non-GAAP adjusted
net income for full year ended December 31,
Strategic highlights of the fourth quarter:
- As of quarter end, the total number of users of moomoo and its
sister brand Futubull increased 12.7% year-over-year to 19.58
- Total number of registered clients increased 17.5%
year-over-year to 3.23 million.
- Total number of paying clients increased 19.5% year-over-year
to 1.49 million.
- By the end of the fourth quarter, the total client assets
amounted to US$53.5 billion
(HK$417.5 billion). In Singapore, the total client assets increased
by 45.4% year-over-year.
- The quarterly client retention rate remained high at 98%.
- Corporate services maintained strong momentum with ESOP clients
totaling 638, an increase of 59% sequentially.
- According to a third-party data provider, Futu has participated
in 41 IPO projects as their sponsor, bookrunner, underwriter,
global coordinator or lead manager for Hong Kong listed companies, ranking first
across the industry in 2022.
- Total client assets in Futu's wealth management business
achieved US$4.05 billion
(HK$31.58 billion) in the fourth
quarter, representing a 68% growth from the previous year. The
company has collaborated with 73 world-renowned global financial
institutions in offering diverse fund products to clients, with
five new partners onboarded this quarter.
"In the fourth quarter of 2022, we focused on long-term
globalization plans and sharpened our product and service offerings
to meet various demands from investors of all kinds. The financial
results for the fourth quarter reflect stable business operation
and momentum in our wealth management business and corporate
services," said Mr. Leaf Hua Li, Futu's Founder, Chairman, CEO and
Chairman of the Technology Committee.
In November, the Company was pleased to announce that it was
ranked 2nd on Fortune's "100 Fastest-Growing Companies"
list of 2022, thanks to its outstanding operational performance.
Futu is the top-ranked financial company on the list (View
Disclosures at the end).
Futu Becomes the Go-To Trading Platform Across Generations
with a 14% Surge in Senior Investor Activity
As a pioneering fintech brokerage in Hong Kong, Futu has further strengthened its
leading position by garnering higher recognition from investors of
all ages in the fourth quarter. Its number of users continued to
grow, representing 43% of the HK adult population  in
Q4. Additionally, investors aged 45 and above showed increased
activity, with a 14% increase of trading frequency as compared to
the previous quarter.
Futubull, Futu's proprietary one-stop digital financial services
platform in Hong Kong, has made
investing in various asset classes more accessible. In 2022,
investors were able to subscribe to the Hong Kong SAR government's
Green Bond and Silver Bond through this platform, further cementing
Futu's position as a preferred bond subscription platform in
Futu also participated in the flagship event of the fintech
industry, FinTech Week 2022, in Hong
Kong, where it showcased its innovative solutions for
business development, corporate services, and product extension. In
addition, the company organized an investment forum in November
that was attended by experts from renowned partnered fund houses
and other institutions, which was well-received by
Moomoo Captures 25% of Market Share in Singapore
During the fourth quarter, moomoo, Futu's overseas one-stop
investment super app, deepened its market penetration in the
Singapore market with its user
number surpassing 25% of the local population aged between 20 to 70
With financial literacy slated to play a greater role in
advancing financial inclusion, the Company is cognizant of rolling
out a school-focused program, giving students first-hand exposure
to digitalized investing and personal finance. In the fourth
quarter, moomoo partnered with tertiary institutions namely
National University of Singapore,
Nanyang Technological University,
Singapore Management University and
Singapore University of Social Sciences
to equip students with essential financial knowledge via seminars
and workshops. Moomoo seeks to foster greater financial inclusion
by imparting knowledge of personal finance, investing fundamentals
and trading psychology, empowering the future pillars with a better
financial and digital savviness for both personal and wealth
To benefit the wider community, moomoo also engaged fund houses,
asset management companies and other industry partners to conduct
about 10 Lunch & Learn investing seminars and made all the
course content available publicly.
Moomoo's Pursuit of Technology Innovation Is Recognized by
Moomoo continued to gain popularity in the US with its
relentless efforts to drive technology innovation to transform
investing experience. During the fourth quarter, the moomoo app
launched new features, supporting bracket orders for Hong Kong and US listed stocks and Automated
Customer Account Transfer Service (ACATS).
In December, moomoo received Benzinga's 2022 Best Investment
Research Tech Award (View Disclosures at the end). The award is in
recognition of moomoo's commitment to enabling smarter trading
through its digital financial services platform with comprehensive
data, strategic insights and advanced tools.
The brand kept its growth momentum with creative events. During
the holiday season, moomoo launched the $60,000 Holiday Magic Sweepstakes campaign, which
had attracted more than 12,000 US participants by December 14.
New Moomoo Features Continue to Help Diversify Australian
In the fourth quarter, moomoo Australia launched Hong Kong stock trading feature, enabling its
clients to further diversify their portfolios. Investors can now
trade AU, US and Hong Kong shares
and ETFs on the one-stop platform, with full access to moomoo's
suite of professional-level analytics tools.
Moomoo Australia also introduced an Earnings Calendar feature in
the fourth quarter. Investors can simply tap and follow to gain
access to earnings information about US, Australia or Hong Kong SAR listed companies
and A-share listed companies.
Wealth Management Business Reached a New Milestone with AUM
Exceeding HK$30 Billion
Futu's wealth management business AUM had reached $4.05 billion (HK$31.58
billion) by the end of the fourth quarter, an increase of
68% year-over-year. The AUM in mutual funds and alternative assets
(incl. bonds) realized a year-over-year growth of 61% and 183%
In Singapore, the wealth
management AUM increased by 64.2% from the previous quarter, with
paying clients going up 75.1% sequentially. Moomoo added private
investment funds and structured notes to its product offerings,
further diversifying its product mix. The app also expanded its
capability by enabling the rebalancing feature for model portfolios
and a more comprehensive SmartSave feature, which helps investors
to better manage their idle funds.
In Hong Kong, investors can
trade US Treasuries via Futubull, with a minimum purchase amount of
$1,000. Investors can also read
weekly Market Outlook produced by Futu analysts to have a more
in-depth understanding of the market.
Futu's wealth management business continued to deepen its
cooperation with more well-known global financial institutions. By
the end of 2022, the business had partnered with 73 global
financial institutions, including five new partners onboarded in
the fourth quarter. In December, Futu's wealth management platform
Money Plus became the first distributor of a BlackRock fund in
Hong Kong and successfully raised
funds for a deal-by-deal private equity fund as its exclusive
Corporate Services Business Achieves Milestones in
According to third-party financial data provider Wind, Futu has
participated in 41 Hong Kong listed initial public offerings (IPOs)
as their sponsor, bookrunner, underwriter, global coordinator or
lead manager, ranking first across the industry in 2022. Meanwhile,
Futu was entrusted by China Tourism Group Duty Free Corporation,
Tianqi Lithium and CALB, the top three Hong Kong listed IPOs in terms of subscription
amount in 2022, to be their corporate services provider.
Moomoo Financial Singapore Pte. Ltd (moomoo SG) took
part in the IPO project of NoonTalk Media Limited as its sub
placement agent, as well as acted as a participating dealer for the
listing of UOBAM Ping An ChiNext ETF, and CSOP CSI STAR and CHINEXT
50 Index ETF.
Meanwhile, Futu's employee stock ownership plan service debuted
in Singapore, marking another
milestone for the Company's globalization strategy.
By the end of the fourth quarter, more than 1,500 investing
institutions, financial media and listed companies had opened their
Futu Page in Futu's highly interactive community. More than 500
companies had joined the earnings season events offering over 900
live streams. Futu is also devoted to enhancing the communication
between listed companies and investors by holding industry
roundtables and reward-based discussions.
Building Social Accountability Through Engagements with
Futu is committed to social responsibility. On its tenth
anniversary, the Company partnered with Make-A-Wish International
(MAW), the charity organization that helps fulfill the wishes of
children diagnosed with a life-threatening illness. The
Company, together with MAW, will bring joy and hope to eligible
children from Singapore, Hong Kong
SAR, the US and Australia.
In aid of the MAW Foundation, an additional fundraising virtual
stock trading contest was held in Singapore, attracting over 15,000
participants. In Hong Kong, an
offline charity fete was also organized by the Company to raise
more funds, helping wish kids in need realize their dreams.
Futu encourages its employees to participate in their community
through volunteer work. In Hong Kong SAR, around 100 people,
including Futu staff and children, joined the beach clean-up
volunteer activity in November.
Meanwhile, the Company continues pursuing the goal of empowering
investors of all kinds with better financial literacy. By the end
of the fourth quarter, the Company had rolled out more than 3,200
online courses in multiple languages, including 1,249 on moomoo.
More than 480,000 users had taken investing courses on moomoo and
Futu's other platforms during the fourth quarter.
 HK adult population
refers to the 2022 year-end number reported by the Census and
Statistics Department of the HKSAR government.
 Adults include
locals aged 20 to 70; the adult population is from the Singapore
Department of Statistics' population data by H1 2022
Accolades are not indicative of future performance. Futu is not
affiliated with Fortune. For more information, please visit
Accolades are not indicative of future performance. Moomoo
Technologies Inc. is not affiliated with Benzinga. For additional
information, please visit:
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 is an indirect wholly owned subsidiary of Futu Holdings
Limited, a Nasdaq-listed fintech company headquartered in Hong
For more information, please visit moomoo's official website
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
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SOURCE Futu Holdings