Futu Holdings Sustains Solid Growth in Q2 with US$222.6 Million Total Revenues

Futu wrote a column · Aug 30, 2022 03:16

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 second quarter ending June 30, 2022, with US$222.6 million (HK$1.75 billion) total revenues, and US$87.7 million (HK$688.5 million) non-GAAP adjusted net income.

● As of quarter end, the total number of users of moomoo and its sister brand Futubull increased 20.0% year-over-year to 18.6 million.

● Total number of registered clients increased 30.5% year-over-year to more than 3 million.

● Total number of paying clients increased 38.6% year-over-year to 1.4 million.

● The number of newly acquired paying clients in the second quarter was 61,000, with approximately 90% of them from the United States, Singapore, Hong Kong SAR, and Australia.

● By the end of the second quarter, the total client assets amounted to US$55.3 billion (HK$433.6 billion), an increase of 12.3% from the previous quarter.

● The quarterly client retention rate hit a historic high of nearly 99%.

● As of quarter end, Futu strengthens its dominant market share in Hong Kong market as the number of its users accounted for more than 40% of Hong Kong’s adult population.

● As of June 2022, the number of moomoo’s Singapore users accounted for 22.1% of Singapore’s population aged between 20 and 70.

● Corporate and institutional services continued to thrive with IPO and IR clients totaling 276, an increase of 48.4% YoY. The number of ESOP clients reached 519, representing an increase of 97.3% YoY.

● Total client assets in its wealth management business reached US$2.8 billion (HK$21.9 billion) in the second quarter, representing a 58.8% growth YoY. The company has collaborated with 66 world-renowned global financial institutions in offering diverse fund products to clients.

● As of the quarter end, Futu has acquired 51 licenses and qualifications from regulators across major financial markets; and its subsidiary Moomoo Financial Singapore Pte. Ltd. officially became the first digital brokerage to receive all 5 memberships from the SGX Group for both the Securities and Derivatives markets, strengthening its leading position in the industry. Another subsidiary Futu Trustee (Singapore) Pte. Ltd. obtained a trust business license from the Monetary Authority of Singapore (MAS).