Futu Announces Q1 2025 Results: Net Income Increases by 98% YoY Global Growth Accelerated, With Roll-Out of Future-Oriented Platform Upgrade

Hong Kong - May 29, 2025 - Futu Holdings Limited ("Futu" or the "Company") (Nasdaq: FUTU), a leading tech-driven digitalized brokerage and wealth management platform, today announced its unaudited financial results for the first quarter ended March 31, 2025.

This quarter, Futu reported total revenues of HK$4.69 billion (US$603.4 million), representing a year-over-year ("YoY") increase of 81.1%; its non-GAAP net income reached HK$2.22 billion (US$285 million), up 97.7% YoY. In terms of different businesses, brokerage commission and handling charge income totaled HK$2.31 billion (US$296.9 million), up 113.5% YoY; interest income rose by 52.9% YoY to HK$2.07 billion (US$266.1 million); other income (including income from wealth management, corporate services, etc.) amounted to HK$313.9 million (US$40.3 million), growing 101% YoY.

As of quarter-end, the combined number of registered users across Futu's platforms, Futubull and moomoo, reached 26.25 million, and the number of brokerage accounts  grew to 4.96 million, representing YoY increases of 17% and 30%, respectively. The number of funded accounts rose to 2.67 million, up 42% YoY. The client assets on the platform achieved HK$830 billion (US$107 billion), marking a YoY growth of 60%.

Hong Kong, a market already highly penetrated with 1 in every 2 adults using Futu*, continued to serve as Futu's strategic stronghold, delivering steady growth in both client addition and assets in Q1. Daily active users on the Futubull app rose nearly 20% quarter-over-quarter ("QoQ"). Overseas markets demonstrated strong client acquisition momentum, driving double-digit QoQ growth in client assets across multiple markets. Futu recently announced its official launch in New Zealand, underscoring its success in executing the global expansion strategy and demonstrating its long-term commitment to international growth.

"We started the year off strong, seeing continued growth across all markets. As the No.1 tech brokerage in Hong Kong, we pioneered the use of AI to enhance investment efficiency and improve the client value. Internationally, we remain committed to deepening our presence in established markets while actively exploring new territories, bringing Futu's premium and efficient trading services to a broader global audience," said Mr. Leaf Hua Li, Futu's Founder, Chairman, CEO & Chairman of the Technology Committee. "In this dynamic market environment, we are confident that our technological advancements, product innovation, and brand value will serve as a robust moat, bringing Futu to the next level with long-term, sustainable growth."

Ecosystem Synergies Strengthen Futu's Position as an Integrated Financial Services Platform

Driven by favorable market conditions, total trading volume on Futu platforms reached a new record of HK$3.22 trillion in Q1. The trading volume for Hong Kong equities surged 227% YoY to HK$916 billion, and that for US equities increased 116% to over HK$2.25 trillion. Despite volatility in the cryptocurrency market, both the number of traders and assets posted double-digit QoQ growth, highlighting the promising potential in this asset class.

As global market uncertainties intensify amid geopolitical and economic shifts, Futu's wealth management business continued to expand its offerings through partnerships with 105 international institutions, empowering investors with more choices to build a well-structured portfolio. In Q1, Futu launched monthly interval funds in Hong Kong to meet investors' demand for stable returns. Moomoo, Futu's overseas independent brand, introduced US dollar money market funds in Japan to improve cash utilization, and also debuted non-money market mutual funds in Malaysia. As of the end of Q1, Futu's total assets under wealth management doubled YoY to HK$139.2 billion, with all product lines seeing robust growth across the board.

The strong performance in retail investing propelled Futu's further growth in corporate services, solidifying its position as a leading comprehensive financial services platform. This quarter, Futu Securities became the first broker in Hong Kong in achieving over HK$1 trillion in subscriptions for Mixue IPO, and it was the exclusive online broker for IPO distribution of Bloks and Guming. In Malaysia, moomoo emerged as the top platform for local IPO activity, attracting the highest number of subscribers for Oriental Kopi IPO. Additionally, the Company achieved steady growth in its Employee Stock Ownership Plan and Trust services, earning a strong reputation among clients.

Futu's excellence in integrated services was recognized with multiple industry accolades this quarter:  

• Futu Trustee was named "Hong Kong Best Trust Administrator" by Euromoney

• Moomoo Singapore earned titles from the CME Group for "Influential Broker", "Innovative Broker", and "Futures and Options Accelerator"  

• Moomoo Japan was recognized by JMRO as the broker with the "Most US Stocks for Trading", "Lowest Commission for US Stocks Trading"

• Moomoo Malaysia won two "Technology Excellence Awards" from The Asian Business Review

AI-Driven Innovation Redefines the Investment Experience

As a tech-driven financial company, Futu continued to execute on strategy with robust product velocity in Q1. In Hong Kong, the Company rolled out a suite of AI-powered features, including the "Futubull AI" chatbot, helping investors with professional investment assistance. A revamped desktop version of Futubull was released, offering users a personalized and upgraded experience. To meet rising demand for options trading among retail investors, Futu introduced an option toolkit that integrates trading strategies, analytics, and market insights to lower the entry barrier for this complex asset class. The "Insights" feature was launched on Futu apps, enabling investors to imitate expert strategies as well as get inspiration for new investment opportunities. Order execution process was also streamlined this quarter, allowing investors to cover full trading blocks with a single US stocks order, enabling seamless trading beyond traditional market hours.

These innovations are translating into tangible value: since the rollout of AI features, average daily usage time on the Futubull app has recorded an increase. Moomoo was also named the online broker with the most AI applications by JMRO in Japan.

Strengthening Local Engagement and Building Long-Term Brand Value

Futu advanced its localized brand strategy in Q1 through multiple initiatives, aiming at deepening market penetration and strengthening long-term brand equity. In Hong Kong, Futu hosted the largest retail investor event in March, drawing 12,000 participants and driving industry development in smart investing. In the US, a major advertising campaign swept key areas of New York City, capturing widespread attention. In April, Futu announced its partnership with New York Mets, an MLB team, to explore innovative engagement opportunities beyond traditional investment groups, further expanding moomoo's brand reach among diverse audiences.

Futu also demonstrated its commitment to corporate social responsibility by sponsoring the Jersey City Marathon in the US, supporting Australian communities, and promoting financial education for female investors in Japan. These efforts highlighted Futu's dedication to fostering emotional ties with local communities while balancing commercial success with meaningful social impact.

* Hong Kong's adult population is based on statistics released by the Hong Kong government's Census and Statistics Department in 2024.