Company Performance - Amadeus IT Group SA Unsponsored ADR (AMADY) has returned 7.7% year-to-date, outperforming the average loss of 4.7% in the Business Services group [4] - The Zacks Consensus Estimate for AMADY's full-year earnings has increased by 1.8% over the past 90 days, indicating improving analyst sentiment [4] - Amadeus IT Group SA Unsponsored ADR currently holds a Zacks Rank of 2 (Buy), suggesting a positive earnings outlook [3] Industry Context - Amadeus IT Group SA Unsponsored ADR is part of the Technology Services industry, which consists of 131 companies and currently ranks 65 in the Zacks Industry Rank [6] - The Technology Services industry has experienced an average loss of 14.8% year-to-date, highlighting AMADY's relative strength within this sector [6] - Another stock in the Business Services sector, Futu Holdings Limited Sponsored ADR (FUTU), has also shown positive performance with a year-to-date increase of 0.5% and a Zacks Rank of 1 (Strong Buy) [5]

Company Overview - Futu Holdings Limited is a leading tech-driven online brokerage and wealth management platform listed on Nasdaq under the ticker FUTU [1][3] - The company offers fully digitalized financial services through its proprietary platforms, Futubull and moomoo, which include trade execution, margin financing, securities lending, and wealth management [3] Annual Report Filing - The company filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the Securities and Exchange Commission [1] - The annual report, which includes audited consolidated financial statements, is available on the company's investor relations website [1][2] Shareholder Services - Futu Holdings Limited will provide a copy of its annual report free of charge to shareholders and ADS holders upon request [2] - Requests for the annual report should be directed to the Investor Relations Department located in Shenzhen, China [2]

Financial Performance - As of December 31, 2024, the company's outstanding loans and advances amounted to HK$49.7 billion (US$6.4 billion), up from HK$32.5 billion in 2023 and HK$26.7 billion in 2022[128]. - The balance of receivables increased significantly to HK$22.8 billion (US$2.9 billion) as of December 31, 2024, compared to HK$10.1 billion in 2023 and HK$9.8 billion in 2022[130]. - In 2022, 2023, and 2024, the company generated HK$986.4 million, HK$2,482.9 million, and HK$2,840.8 million (US$365.7 million) in interest income from bank deposits, primarily from uninvested cash balances in client accounts[182]. - A significant decrease in liquidity could negatively affect the company's business and financial management, potentially leading to a loss of client confidence and brokerage accounts[179]. - A significant change in clients' cash allocations could negatively impact net interest revenues and overall financial results[182]. Credit Risk and Management - The allowance for credit losses recorded as of December 31, 2024, was HK$85.3 million (US$11.0 million)[128]. - A single borrower accounted for 95.91% of the total outstanding balance of stock-pledged loans as of December 31, 2024, indicating a high concentration of credit risk[129]. - The company faces significant risks related to credit exposures from margin financing, securities lending, IPO loans, and stock-pledged loan businesses, which could adversely affect its financial condition[128]. - The company has implemented comprehensive internal policies to manage credit risks, including margin calls and liquidation protection mechanisms[129]. Regulatory Environment - The company has not obtained necessary licenses for certain services in China, which could lead to regulatory penalties and affect business operations[155]. - The evolving regulatory environment in China poses uncertainties that may affect the company's compliance and operational capabilities[161]. - Increased regulatory scrutiny in the securities brokerage and wealth management industries may lead to new rules that could adversely affect the company's business model[165]. - Legislative changes and enforcement actions could directly affect the company's operational model and profitability[166]. - The company is subject to various regulatory requirements in the U.S., Singapore, and Australia, including compliance with the U.S. Brokerage Regulations and the Australian Securities and Investments Commission[213]. Technology and Operational Risks - The company’s proprietary technology is crucial for its operations, and any failure to maintain technological superiority could adversely impact its results[138]. - The company is exposed to risks from unexpected network interruptions and security breaches, which could materially affect its business operations[142]. - The company relies on third-party software and infrastructure, which if disrupted, could materially affect its business operations and financial condition[146]. - Significant reliance on external service providers for key market information and data, with potential disruptions impacting product delivery and operational results[149]. Employee and Labor Issues - Competition for well-qualified employees is intense, and failure to attract and retain key personnel could adversely affect the company's business[186]. - Increased labor costs and stricter labor laws are expected to impact financial results, with average wages anticipated to rise[203]. - Employee misconduct risks could lead to significant legal liabilities and reputational harm, impacting client relationships and financial condition[162]. Market and Economic Factors - The trade war between the United States and China may negatively impact the company's operations and client spending power[236]. - Changes in social, political, and economic policies in China may adversely affect the company's business and growth strategies[227]. - Fluctuations in exchange rates, particularly between Renminbi and U.S. dollars, could materially impact financial position and operating expenses[208]. - Limited hedging options in China may exacerbate currency exchange losses, affecting overall investment[210]. Corporate Governance and Shareholder Rights - The dual-class voting structure may limit the ability of Class A ordinary shares and ADS holders to influence corporate matters and could discourage change of control transactions[300]. - The company may face substantial uncertainties regarding compliance with the PRC Foreign Investment Law and its impact on corporate governance and business operations[295]. - Shareholders have limited rights under Cayman Islands law to inspect corporate records, which may hinder obtaining necessary information for shareholder actions[325]. Legal and Compliance Risks - The company faces potential claims and disputes with service providers, which could incur substantial expenses and harm its reputation[152]. - Errors in clearing functions could expose the company to regulatory fines and civil penalties, impacting business operations and financial condition[183]. - The company may face significant legal claims related to intellectual property infringement, which could disrupt operations and require substantial management resources to defend against[192]. - The company is subject to potential liabilities for user-generated content, which may adversely affect business results and operations[194]. Strategic Initiatives and Future Outlook - The company has expanded operations into the United States, Singapore, Australia, Japan, Canada, and Malaysia, with potential further international expansion[212]. - The company may evaluate strategic investments or acquisitions, which could require significant management attention and disrupt business operations[202]. - The company anticipates that net proceeds from its securities offering will be sufficient for general corporate purposes for at least the next 12 months, but may face challenges in raising additional capital[223].

Market Overview - US stock indices collectively declined, with the Nasdaq falling by 4.31%, S&P 500 down by 3.46%, and Dow Jones dropping by 1014.79 points, a decrease of 2.5% [4] - Major tech stocks also fell significantly, with Tesla down over 7%, Meta down over 6%, and Nvidia, Amazon, Apple, Google, and Microsoft all experiencing declines of more than 2% [4] - The Nasdaq Golden Dragon China Index decreased by 1.14%, with most Chinese concept stocks declining, while Li Auto and Xpeng Motors saw gains of over 5% and 3%, respectively [4] Economic Indicators - The US Consumer Price Index (CPI) for March showed a year-on-year increase of 2.4%, below the expected 2.6% and down from the previous 2.8% [4] - Month-on-month, the CPI decreased by 0.1%, contrasting with the expected increase of 0.1% and the previous increase of 0.2% [4] Commodity Market - Gold prices surged, with spot gold rising by 3.02% to $3175.03 per ounce, marking a new historical high, while COMEX gold futures increased by 3.73% to $3194.2 per ounce [5] - International oil prices saw significant declines, with WTI crude oil down by 3.40% to $60.23 per barrel and Brent crude down by 2.93% to $63.56 per barrel [5] Corporate Developments - CATL has been approved for listing on the Hong Kong Stock Exchange, which is expected to enhance its international visibility and support overseas business expansion [16][17] - IFBH Limited, a leading coconut water brand, has submitted an IPO application to list on the Hong Kong Stock Exchange, aiming to expand its market share [18][19] - Prada announced plans to acquire Versace for approximately $1.375 billion, which will strengthen its position in the fashion industry [20][21] - Anta Sports plans to fully acquire Jack Wolfskin for $290 million, aiming to expand its outdoor equipment market presence [22] - JD.com is launching a significant subsidy program for its food delivery service, investing over $1 billion to enhance market competitiveness [24][25] Regulatory and Policy Updates - The Chinese government is encouraging private enterprises to participate in the construction of new toll road mechanisms through various investment methods [9] - The State Administration of Foreign Exchange expressed confidence in the resilience of China's economic fundamentals and foreign exchange market, anticipating a stable outlook [8] International Relations - A study from Yale University indicated that tariffs could cost American households an average of $4,400, with the effective tariff rate reaching 25.3%, the highest since 1909 [13] - The US State Department announced the resignation of the US Ambassador to Ukraine, amid ongoing geopolitical tensions [13]

Market Overview - The U.S. stock market experienced a significant drop on April 2, with major indices suffering their largest single-day declines in years, triggered by the Trump administration's announcement of a new round of tariff policies [2][3] - The Dow Jones Industrial Average fell by 1,679.39 points, a decline of 3.98%, closing at 40,545.93 points, marking the highest drop since June 2020 [2] - The S&P 500 index decreased by 4.84%, closing at 5,396.52 points, while the Nasdaq Composite index plummeted by 5.97%, closing at 16,550.61 points, both setting records for their largest single-day declines since June 2020 [2] Sector Impact - Major technology stocks were heavily impacted, with Apple shares dropping by 9.25%, resulting in a market value loss of approximately $310.9 billion [4] - Other tech giants like Amazon, Nvidia, Tesla, Google, and Microsoft also saw significant declines, with Amazon falling over 8% and Nvidia dropping over 7% [4] - Financial stocks also faced severe losses, with JPMorgan Chase down nearly 7%, Goldman Sachs down over 9%, and Citigroup down over 12% [4] - The semiconductor sector was not spared, with the Philadelphia Semiconductor Index falling by 9.88% and individual stocks like Micron Technology and Microchip Technology dropping over 16% [4] Global Market Reaction - The panic in the U.S. market led to a ripple effect globally, with European indices such as the STOXX 50 and the UK FTSE 100 also experiencing declines of 3.59% and 1.55%, respectively [7] - Asian markets followed suit, with Japan's Nikkei 225 index dropping 2.26% and South Korea's KOSPI index down 0.48% [7] Economic Outlook - Analysts expressed a pessimistic outlook regarding the new tariff policies, suggesting that they could lead to a significant increase in the average tariff rate on U.S. imports, potentially impacting inflation [6] - Barclays Bank projected that U.S. GDP growth could shrink to 0.1% by 2025 due to the escalating trade tensions [6] - The market is increasingly concerned about retaliatory tariffs from other countries, which could exacerbate the economic downturn [6] Federal Reserve Response - Following the market turmoil, expectations for a Federal Reserve interest rate cut surged, with traders anticipating a 25 basis point cut as early as June [8] - Analysts believe that the current economic "growth shock" may prompt the Fed to adopt a more accommodative monetary policy sooner than previously expected [8]

Core Insights - Moomoo has entered a multiyear multimillion-dollar sponsorship partnership with the New York Mets to enhance the sports experience for fans and communities [1][2] - The partnership includes promotional initiatives such as a special fund that adds $10,000 for every Mets win, with a potential grand prize of $1 million for a moomoo investor if the team achieves 100 victories [2] - Moomoo aims to leverage its global user base of 25 million to connect baseball fans with the Mets, enhancing engagement through events and promotions [4][5] Company Overview - Moomoo is a global investment and trading platform that empowers investors with user-friendly tools and insights, designed to facilitate informed investment decisions [7] - The platform operates in multiple countries including the US, Singapore, Australia, Japan, Canada, and Malaysia, and is a subsidiary of Nasdaq-listed Futu Holdings [8] - Moomoo has received numerous accolades for its innovative approach to investing, recognized by industry leaders such as Benzinga and Fintech Breakthrough [8]

Core Viewpoint - The article discusses the launch of the new AI-based exam preparation system by Fenbi, highlighting its innovative features and the underlying technology that enhances the learning experience for students preparing for public examinations [6][18]. Group 1: AI Teacher Upgrade - Fenbi's AI Teacher 2.0 introduces "heuristic Q&A interaction," which encourages students to think critically rather than providing direct answers, enhancing their understanding and retention of knowledge [9][12]. - The AI system analyzes students' learning behaviors to create personalized study plans, optimizing their preparation process by focusing on their weaknesses [9][12]. Group 2: Gamification of Learning - The new system incorporates gamification elements, transforming the study process into an engaging experience similar to a game, which increases motivation and enjoyment in learning [12][18]. - The interactive nature of the AI allows for immediate feedback and guidance, creating a smooth learning loop that enhances efficiency [12][18]. Group 3: Technical Foundation - The core technology behind the system is Fenbi's proprietary domain-specific model, PRO, which has been tailored for vocational education and has shown superior performance compared to general-purpose models in key examination subjects [14][15]. - Internal performance metrics indicate that Fenbi's model outperforms competitors in various cognitive tasks relevant to public examinations, demonstrating its specialized understanding of the subject matter [15][16]. Group 4: Business Model and Financial Performance - Fenbi's AI product matrix includes various services that cater to different learning needs, allowing for diverse revenue models such as subscriptions and pay-per-use [18]. - In 2024, Fenbi reported revenues of 2.79 billion yuan and a net profit of 240 million yuan, reflecting a 27% year-on-year growth, showcasing the successful monetization of its AI-driven educational strategies [18]. Group 5: Future Implications - The introduction of the AI exam preparation system signifies a shift in learning paradigms, addressing inefficiencies in traditional study methods and offering personalized, engaging solutions [20]. - The competitive landscape in vocational education is expected to increasingly rely on AI capabilities and data assets, positioning Fenbi favorably for future growth [20].

Group 1: Futu Holdings Limited (FUTU) - Futu Holdings Limited is an online brokerage and wealth management platform with a Zacks Rank of 1 [1] - The Zacks Consensus Estimate for Futu's current year earnings increased by 10.2% over the last 60 days [1] - Futu's shares gained 22.3% over the last three months, while the S&P 500 declined by 6.2% [1] - The company has a Momentum Score of A [1] Group 2: IHS Holding Limited (IHS) - IHS Holding Limited is a communications infrastructure company with a Zacks Rank of 1 [2] - The Zacks Consensus Estimate for IHS's current year earnings increased by 30.9% over the last 60 days [2] - IHS's shares gained 72.7% over the last three months, compared to the S&P 500's decline of 6.2% [2] - The company possesses a Momentum Score of A [2] Group 3: Infineon Technologies AG (IFNNY) - Infineon Technologies AG is a semiconductor and related solutions company with a Zacks Rank of 1 [3] - The Zacks Consensus Estimate for Infineon's current year earnings increased by 8% over the last 60 days [3] - Infineon's shares gained 7.8% over the last three months, while the S&P 500 declined by 6.2% [3] - The company has a Momentum Score of A [3]

Group 1 - Futu Holdings Limited Sponsored ADR is part of the Business Services group, which includes 289 companies and ranks 8 in the Zacks Sector Rank [2] - The Zacks Rank for Futu Holdings is currently 1 (Strong Buy), indicating a positive outlook based on earnings estimates and revisions [3] - Over the past three months, the Zacks Consensus Estimate for Futu's full-year earnings has increased by 10.2%, reflecting improved analyst sentiment [4] Group 2 - Futu Holdings has achieved a year-to-date return of approximately 33%, outperforming the Business Services sector, which has returned an average of -0.5% [4] - In the Technology Services industry, which includes 151 stocks, Futu Holdings ranks 71 and has performed better than the average loss of 27.9% in the industry this year [6] - Another stock in the Business Services sector, Katapult Holdings, Inc., has a year-to-date return of 90.7% and a Zacks Rank of 2 (Buy) [5][6]

Group 1 - IHS Holding Limited (IHS) has seen a 30.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - Heritage Financial Corporation (HFWA) has experienced a 5.7% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - Infineon Technologies AG (IFNNY) has reported an 8% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Futu Holdings Limited (FUTU) has seen a 10.2% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - Valley National Bancorp (VLY) has experienced a 5.6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3]