Futu Holdings Limited ("Futu" or the "Company") (Nasdaq: FUTU), a leading tech-driven online brokerage that provides one-stop premium securities trading and wealth management services, today announced its unaudited financial results for the first quarter ended March 31, 2022.

It was an unusual and exuberant investment time for the global markets in early 2021. While such an abnormal momentum did not continue at the beginning of this year, Futu remained resilient in its business performance with sharpened competitive edges. Total revenues stayed at a constant level of HK$1,641.0 million quarterly (The fourth quarter of 2021: HK$1,602.8 million). Non-GAAP net income increased by 16.6% quarter-over-quarter to HK$622.2 million(The fourth quarter of 2021: HK$533.4 million).

Mr. Leaf Hua Li, Futu’s Founder, Chairman, CEO & Chairman of the Technology Committee said, "Amid the volatile market in the first quarter, the overheating investment sentiment has subsided and the industry has returned to its normal state. During the period, Futu sustained its market leadership in Hong Kong and remained the largest online investment forum community in town, continuously creating value for the local investors. Internationalization continued to serve as a key driver of business expansion with increasing clout in the Singapore and Australia market. The Wealth Management business and Corporate Services business grew steadily supporting the group's business diversification as a catalyst for long-term growth. 

Futu has been trusted by more investors. As of quarter-end, the global users reached 18.1 million. As the first half of 2022 is coming to an end, Futu looks to continue creating a better investing and wealth management experience for worldwide investors by providing top-notch products and services with the relentless pursuit of perfection." 

All three core businesses continued steady growth, with brokerage commission and handling charge income of HK$967.5 million, interest income of HK$575.2 million, and other revenues (including wealth management and corporate services) of HK$98.3 million. 

As of the end of the quarter, registered users of Futu's two proprietary trading platforms, Futubull and moomoo, surpassed 18.1 million, an increase of 700,000 people or 4.2% on a quarter-over-quarter basis. The number of registered clients reached 2.91 million, up 5.8% quarter-over-quarter; the number of paying clients reached 1.32 million, representing a quarter-over-quarter increase of 6.6%. In the first quarter, the net increase of paying clients was 82,000. As total client assets reached HK$386.0 billion, the Company also maintained a high quarterly client retention rate of 98.2%.

In addition, Futu's total trading volume reached HK$1.3 trillion in the first quarter. Daily average revenue trades (DARTs) increased by 9.6% quarter-over-quarter to about 596,000.

Futu corporate services remain growth. In the first quarter of 2022, Futu has provided IPO distribution and IR services for 258 companies and served 459 ESOP clients, a quarter-over-quarter increase of 9.3% and 14.8% separately. 

Deeply Rooted in Hong Kong for 10 Years, Futu is Now a Household Brand Name for Local Investors

Having been established in Hong Kong for ten years, Futu has empowered the financial market with technological innovations and become a leading online brokerage firm loved by investors of all ages. With the impact of Hong Kong's fifth wave of Covid-19, Futu adhered to where it could provide investors with stable and efficient services. The Community also saw higher user activeness. Hong Kong users spent an average of 33.4 minutes using the Futubull app per trading day during the first quarter. There were over 363,000 daily average Hong Kong active users in the online community in the first quarter, producing nearly 100,000 pieces of UGC content. The Futubull Community continues to be the largest online investment community in Hong Kong in terms of its number of active users and the UGC volume, leading the social investing trend.

In addition, Futu is well-recognized for its outstanding products and services in Hong Kong. In the first quarter, Futu Securities International (Hong Kong) Limited, a subsidiary of Futu, not only won five of the "HKEx Awards 2021" for the fifth consecutive year, but was also awarded the "Best Digital Financial Service Award" by Bloomberg and the Chinese Asset Management Association of Hong Kong, reaffirming its  credibility.

Futu Donates to Fight the Pandemic, in Solidarity with Hong Kong People

Amid Hong Kong’s fifth wave of the Covid outbreak in the first quarter, Futu committed a HK$10 million and 1 million rapid test kits donation in support of Hong Kong Covid-19 pandemic programs to stand in solidarity with Hong Kong People against Covid-19. The HK$10 million was donated to the Hong Kong Community Anti-Coronavirus Link (HKCACL) and Christian Family Service Centre (CFSC) to aid low-income families affected by the pandemic. Other charitable organizations in Hong Kong that helped distribute the 1 million rapid test kits include Christian & Missionary Alliance Social Services, Hong Kong Federation of Education Workers, Chinese YMCA of Hong Kong, the Caritas Mothers' Club, and the Caritas Integrated Family Service. The rapid test kits were delivered to more than 200,000 Hong Kong people in need.

Launched moomoo in Australia and Secured Unprecedented Breakthroughs in Singapore

Building on the established operations in Hong Kong, Futu also steadfastly pursues its internationalization strategy. As a tech-driven digitalized fintech company, Futu provides premium investing services through its proprietary digitalized platforms, Futubull and moomoo to global investors. As of quarter-end, Futu holds 50 licenses(including the approvals in-principle) in the US, Hong Kong SAR, Singapore, Australia, and Europe markets. 

During the quarter, Futu officially entered the Australia market to provide one-stop financial services to local investors. Futu helped boost local trading activities by offering premium product experience, professional intelligent analysis tools, real-time market news, enriched investor education content, a digital interactive community, and a stable trading system.

Futu also blazed trails in the Singapore market. In the first quarter, total client assets grew 15.1% quarter-over-quarter. Further penetrating the Singapore market, Futu has become the go-to investment platform for more and more investors. Futu Singapore Pte. Ltd.,a subsidiary of Futu, became the first online brokerage to receive approvals-in-principle for all SGX memberships and an exempt financial adviser of the MAS. As a fully licensed member of the Singapore Exchange, Futu Singapore can provide trading and clearing services for itself and other Futu subsidiaries, creating synergies and providing a more diversified product range and better services to local investors.

What’s more, Futu Singapore was entrusted by Nikko Asset Management and served as one of its participating dealers for the listing of Nikko AM-Straits Trading MSCI China Electric Vehicles And Future Mobility ETF on the Singapore Exchange in the first quarter. The subscription of the ETF via Futu Singapore ranked the first in the market, proving Futu's value in enhancing the local market’s liquidity and promoting investment.

On the other hand, Futu stayed committed to promoting investor education through its proprietary digital platform moomoo, actively shouldering its social responsibilities. As of the first quarter, Futubull and moomoo produced over 2,500 investor education articles, infographics, and videos, helping investors learn investment knowledge and recognize risks. In Singapore, moomoo partnered with leading local universities to organize large-scale investor education events, attracting numerous local university students and making moomoo the preferred investor education partner of local higher education institutions. During the quarter, together with several US financial education institutions, moomoo launched Investeen, a campaign dedicated to improving financial literacy and investment knowledge among US adolescents. The campaign was a success and attracted a large number of youths from over 20 countries.

Corporate Services Posts Record Performance as ESOP Clients Up 14.8%

Futu's corporate clients for ESOP services reached 459, up 14.8% on a quarter-over-quarter basis. Featured ESOP clients are industry leaders in healthcare, high-tech, and living consumption, including MEDLIVE, 4Paradigm, and Fiture. Futu ESOP provides companies with end-to-end services including the granting, vesting, exercise and settlement of the stock awards, and is now a one-stop ESOP provider favored by well-known companies. 

Futu has provided in total 258 clients with IPO & IR services, with several Hong Kong-listed companies, including JL MAG, MEDLIVE, and AInnovation newly onboarded. Over 900 companies have opened a Futu enterprise page during the quarter, including sought-after listed companies such as MEDLIVE, 361 Degrees, and Everbright. Over 400 companies participated in the earnings season events, with over 600 earnings call live broadcasts. Companies including Baidu, JD.com, Nio, and XPeng had live broadcasted their earnings calls via the Futubull Community for consecutive quarters, and communicated with retail investors more efficiently via the Futu Page and Futu Enterprise Platform.

Wealth Management Client Assets Exceeded HK$20 Billion with New Highs Achieved in Singapore 

During the quarter, Futu's wealth management business Money Plus continued rapid growth, as total client assets reached HK$20.9 billion, up 11.1% quarter-over-quarter. The number of clients holding fund positions held was 174,000, up 24.9% quarter-over-quarter. 

Futu is renowned among Singapore investors for its premium fund products and customized services. Futu Money Plus has expanded its fund product offerings in Singapore to support SGD funds, money market funds, and dividend funds, and has partnered with 26 leading international financial institutions to provide local investors with more options for wealth management. During the quarter, Futu Money Plus’ client assets and the number of fund clients in Singapore increased by 93% and 95% quarter-over-quarter respectively.

Futu Money Plus has always been committed to strict product selection standards, and continues to develop and deepen cooperation with world-renowned financial institutions to provide global investors with high-quality financial products. As of quarter-end, Futu has partnered with 64 world-class fund houses, with 5 newly onboarded in the quarter: Wellington, Fullerton fund management, Lion Global Investors, Nikko Asset Management, and UOB Asset Management. In addition, several asset management companies, including E Fund (HK), GaoTeng, and BNY Mellon Investment Management, have contributed strategies to 「Fund Portfolios」 of Money Plus, so that investors’ diversified investment needs can be satisfied with quality model portfolios and enhanced fund allocation capabilities.

About Futu Holdings Limited

Futu Holdings Limited ("Futu") (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering a fully digitized brokerage and wealth management platform. Futu provides investing services – including stock trading and clearing, margin financing, wealth management, market data and information, and interactive social features for Hong Kong, US and China Connect stocks – to individual investors through its proprietary one stop digital platforms, Futubull and moomoo. Futu also provides Employee Stock Ownership Plan (ESOP) solutions and IPO distribution services through its enterprise service brand FUTU I&E, with a focus on providing employee stock ownership plans to corporate clients. 

Futu aims to become an influential financial services platform globally, by building a complete financial technology ecosystem with the mission of "making investing easier and more collaborative." For more information about Futu Holdings, please visit the company's official website www.futuholdings.com.   

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