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HONG KONG, December 17, 2021 -- Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq:FUTU), a leading tech-driven online brokerage and wealth management platform, today announced that as of December 16, 2021, the Company has repurchased more than US$70 million worth of its American depositary shares ("ADSs"), representing its Class A ordinary shares. The repurchases were conducted under the Company’s share repurchase program previously announced on November 3, 2021. Subject to market conditions, the Company may continue to execute repurchases from time to time under the existing share repurchase program, and may adopt a new share repurchase program.
About Futu Holdings Limited
Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering a fully digitized 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 platform, Futubull and moomoo, each highly integrated application accessible through any mobile device, tablet ordesktop. The Company's primary fee-generating services include trade execution and margin financing which allow its clients to trade securities, such as stocks, warrants, options, futures and exchange-traded funds, or ETFs, across different markets. Futu has also embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders..
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as"will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among otherthings, the quotations from the management team of the Company, contain forward-looking statements. Futu may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Futu's beliefs and expectations, are forward-looking statements. Forward-lookingstatements involve inherent risks and uncertainties. A number of factors couldcause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Futu's goal and strategies; Futu's expansion plans; Futu's future business development, financial condition and results of operations; Futu's expectations regarding demand for, and market acceptance of, its credit products; Futu's expectations regarding keeping and strengthening its relationships with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborate with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Futu's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor inquiries, please contact:
Investor Relations
Futu Holdings Limited
ir@futuholdings.com
About Futu Holdings Limited
Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering a fully digitized 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 platform, Futubull and moomoo, each highly integrated application accessible through any mobile device, tablet ordesktop. The Company's primary fee-generating services include trade execution and margin financing which allow its clients to trade securities, such as stocks, warrants, options, futures and exchange-traded funds, or ETFs, across different markets. Futu has also embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders..
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as"will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among otherthings, the quotations from the management team of the Company, contain forward-looking statements. Futu may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Futu's beliefs and expectations, are forward-looking statements. Forward-lookingstatements involve inherent risks and uncertainties. A number of factors couldcause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Futu's goal and strategies; Futu's expansion plans; Futu's future business development, financial condition and results of operations; Futu's expectations regarding demand for, and market acceptance of, its credit products; Futu's expectations regarding keeping and strengthening its relationships with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborate with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Futu's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor inquiries, please contact:
Investor Relations
Futu Holdings Limited
ir@futuholdings.com
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I have seen reports suggesting that companies like Kuaishou Tech, Pinduoduo, etc may be next in the line after Tencent announced the distribution in specie the shares of JD... Tencent has stakes in pinduoduo, kuaishou tech, bilibili, huya, douyu, etc.
JD immediately tanks after that, with a fall of almost 7% in Hong Kong today. Thinking along this line of thought just to satisfy the naysayers, I wondered what will Tencent do if it has to choose between Huya and Douyu? Being a Huya shareholder, I naturally hope that it will be Huya if Tencent has to choose between Huya and Douyu.
Why? In the pursuit of the Chinese metaverse, Tencent cannot give up Huya, the game streaming leader in China since Huya has 85 million monthly active users in 3Q2021. Based on what I recalled, Douyu is only around 65 million MAU and is not profitable whereas Huya has been profitable for many quarters so far.
If Huya is to be chosen, I expect the game development team in Tencent will prefer to "assist" Huya as compared to Douyu. Given that Huya is already trading below cash per share at 7 USD, I would think that the only reason for Huya to be worth less than cash is that Huya has no brand equity or is going to lose money going forward. Will this happen? It would be helpful to assess the industry prospects as well as the execution abilities of Huya's management team.
As always, this should not be construed as any investment or trading advice.
$HUYA Inc (HUYA.US)$ $KUAISHOU-W (01024.HK)$ $PDD Holdings (PDD.US)$ $Meituan(ADR) (MPNGF.US)$ $DouYu (DOYU.US)$ $JD.com (JD.US)$ $JD LOGISTICS (02618.HK)$ $JD-SW (09618.HK)$ $UP Fintech (TIGR.US)$ $Futu Holdings Ltd (FUTU.US)$ $BILIBILI-W (09626.HK)$ $Bilibili (BILI.US)$ $TENCENT (00700.HK)$
https://www.youtube.com/channel/UCAPWOEQKCpCWmzKkdo7v-iw
I have seen reports suggesting that companies like Kuaishou Tech, Pinduoduo, etc may be next in the line after Tencent announced the distribution in specie the shares of JD... Tencent has stakes in pinduoduo, kuaishou tech, bilibili, huya, douyu, etc.
JD immediately tanks after that, with a fall of almost 7% in Hong Kong today. Thinking along this line of thought just to satisfy the naysayers, I wondered what will Tencent do if it has to choose between Huya and Douyu? Being a Huya shareholder, I naturally hope that it will be Huya if Tencent has to choose between Huya and Douyu.
Why? In the pursuit of the Chinese metaverse, Tencent cannot give up Huya, the game streaming leader in China since Huya has 85 million monthly active users in 3Q2021. Based on what I recalled, Douyu is only around 65 million MAU and is not profitable whereas Huya has been profitable for many quarters so far.
If Huya is to be chosen, I expect the game development team in Tencent will prefer to "assist" Huya as compared to Douyu. Given that Huya is already trading below cash per share at 7 USD, I would think that the only reason for Huya to be worth less than cash is that Huya has no brand equity or is going to lose money going forward. Will this happen? It would be helpful to assess the industry prospects as well as the execution abilities of Huya's management team.
As always, this should not be construed as any investment or trading advice.
$HUYA Inc (HUYA.US)$ $KUAISHOU-W (01024.HK)$ $PDD Holdings (PDD.US)$ $Meituan(ADR) (MPNGF.US)$ $DouYu (DOYU.US)$ $JD.com (JD.US)$ $JD LOGISTICS (02618.HK)$ $JD-SW (09618.HK)$ $UP Fintech (TIGR.US)$ $Futu Holdings Ltd (FUTU.US)$ $BILIBILI-W (09626.HK)$ $Bilibili (BILI.US)$ $TENCENT (00700.HK)$
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