Investment Rating - The report maintains a "Buy" rating for the company, with a target price raised from $90 to $108, indicating a potential upside of 24.6% from the current price of $86.70 [3][4][12]. Core Insights - The company's earnings for Q3 2024 met market expectations, with a net profit of HKD 1.32 billion, reflecting a year-on-year growth of 21% and a quarter-on-quarter growth of 9%. Revenue increased by 30% year-on-year and 10% quarter-on-quarter, primarily driven by brokerage commission income [1][2]. - The brokerage commission income saw significant growth, with trading volume increasing by 75% year-on-year and 17% quarter-on-quarter, reaching the highest level since Q2 2021. The proportion of US stock trading volume rose to 80.5% [1][2]. - The company plans to distribute a special dividend of $2 per ADS, totaling $280 million, which represents 61% of the net profit attributable to shareholders for the first three quarters [2]. Financial Performance Summary - For the fiscal year ending December 31, 2024, the company is projected to achieve revenues of HKD 12.325 billion, a net profit of HKD 4.945 billion, and an EPS of HKD 35.57, reflecting a year-on-year growth of 15.6% [7][9][15]. - The average customer acquisition cost decreased by 6.7% quarter-on-quarter to HKD 2,037, while the customer asset scale approached HKD 700 billion, marking a year-on-year increase of 48% [2][8]. - Wealth management assets grew by 88% year-on-year to HKD 97.3 billion, with 27% of paying users holding wealth management products, up 2 percentage points from the previous quarter [2][8].

Investment Rating - The report does not explicitly state an investment rating for Futu Holdings (FUTU) [2] Core Views - Futu Holdings reported Q3 2024 revenue of HKD 34.4 billion, exceeding Bloomberg consensus expectations of HKD 33.3 billion, with a year-over-year (yoy) increase of 30% and quarter-over-quarter (qoq) increase of 10% [2] - Net profit for Q3 2024 was HKD 13.2 billion, up 21% yoy and 9% qoq, while Non-GAAP net profit was HKD 14 billion, also up 21% yoy and 8% qoq [2] - The company announced a special cash dividend of USD 0.25 per share or USD 2 per ADS, totaling approximately USD 280 million [2] - Trading volume growth, particularly in US stocks, drove commission income, with US stock trading volume accounting for 80% of total trading volume [2] - Interest income increased by 13% yoy and 7% qoq, driven by higher average margin financing balances and increased idle fund interest income [2] - Other income surged 52% yoy and 29% qoq, primarily due to increased fund distribution and foreign exchange income [2] - Cost control was effective, with a gross margin of 81.8%, though net profit margin declined due to foreign exchange losses [2] - Overseas markets contributed significantly, with net inflows exceeding HKD 10 billion for three consecutive quarters [2] - The company's wealth management business saw total assets under management (AUM) grow to HKD 973 billion, up 88% yoy and 22% qoq [2] Key Metrics and Performance Revenue and Profit - Q3 2024 revenue: HKD 34.4 billion, yoy +30%, qoq +10% [2] - Net profit: HKD 13.2 billion, yoy +21%, qoq +9% [2] - Non-GAAP net profit: HKD 14 billion, yoy +21%, qoq +8% [2] Trading and Commission Income - Brokerage commission income: HKD 15.3 billion, yoy +52%, qoq +11% [2] - Total trading volume: HKD 1.9 trillion, yoy +75%, qoq +17% [2] - US stock trading volume: HKD 1.5 trillion, yoy +90%, qoq +23%, accounting for 80% of total trading volume [2] - Mixed commission rate: 8bps, yoy -1.2bps, qoq -0.5bps [2] Interest and Other Income - Interest income: HKD 17 billion, yoy +13%, qoq +7% [2] - Other income: HKD 2.1 billion, yoy +52%, qoq +29% [2] Cost and Expense Management - Gross margin: 81.8%, yoy -1.7pct, qoq +0.2pct [2] - R&D expenses: HKD 3.8 billion, yoy +7%, qoq +3% [2] - Sales expenses: HKD 3.1 billion, yoy +49%, qoq -7% [2] - Management expenses: HKD 3.8 billion, yoy +18%, qoq +5% [2] - Operating profit: HKD 17.3 billion, yoy +31%, qoq +17% [2] - Net profit margin: 38.4%, yoy -2.8pct [2] Client and Asset Growth - Net new funded clients: 154,000, yoy +138%, qoq flat [2] - Total funded clients: 2.2 million, yoy +33%, qoq +8% [2] - Client retention rate: over 98% [2] - Total client assets: HKD 6.934 trillion, yoy +48%, qoq +20% [2] - Wealth management AUM: HKD 973 billion, yoy +88%, qoq +22%, accounting for 14% of total client assets [2] Overseas Market Performance - Overseas markets contributed over HKD 10 billion in net inflows for three consecutive quarters [2] - Singapore client assets: qoq +18% [2] - Malaysia and Canada client assets: high double-digit qoq growth [2] Investment Recommendation - The company is expected to benefit from the resonance of Hong Kong and US stock market beta, with strong momentum in net inflows, trading volume, and turnover rates likely to continue in Q4 [2] - Expansion in Malaysia and Japan, along with the enrichment of overseas market product offerings, is expected to open new growth opportunities [2] - Based on Bloomberg consensus, the company's 2024/2025 PE ratios are 18X and 14X, respectively, indicating significant room for improvement compared to overseas peers [2]

Investment Rating - Buy (Maintained) [1] Core Viewpoints - Futu Holdings' 2024 Q3 performance continued its growth trend, with a significant increase in revenue and net profit [1] - The company announced its first special dividend, reflecting its commitment to shareholder returns [1] - Futu's user base and registered clients grew substantially, with strong contributions from overseas markets [1] - The company's revenue and net profit forecasts for 2024-2026 have been revised upwards, indicating positive growth prospects [1] Revenue and Profit Analysis - 2024 Q1-Q3 revenue increased by 19.9% YoY to HKD 9.158 billion, with Q3 revenue up 29.6% YoY to HKD 3.436 billion [1] - 2024 Q1-Q3 net profit attributable to the parent company rose by 4.7% YoY to HKD 3.564 billion, with Q3 net profit up 20.3% YoY to HKD 1.313 billion [1] - Brokerage commissions increased by 31% YoY in 2024 Q1-Q3 to HKD 4 billion, with Q3 commissions up 52% YoY to HKD 1.5 billion [1] - Interest income grew by 10% YoY in 2024 Q1-Q3 to HKD 4.6 billion, with Q3 interest income up 13% YoY to HKD 1.3 billion [1] - Other income increased by 35% YoY in 2024 Q1-Q3 to HKD 530 million, with Q3 other income up 52% YoY to HKD 210 million [1] Cost and Expense Analysis - 2024 Q1-Q3 operating expenses rose by 51% YoY to HKD 1.7 billion, with Q3 expenses up 43% YoY to HKD 630 million [1] - R&D expenses increased by 2% YoY in 2024 Q1-Q3 to HKD 1.09 billion, with Q3 R&D expenses up 7% YoY to HKD 390 million [1] - Sales expenses grew by 79% YoY in 2024 Q1-Q3 to HKD 950 million, with Q3 sales expenses up 48% YoY to HKD 380 million [1] - Administrative expenses increased by 11% YoY in 2024 Q1-Q3 to HKD 1.04 billion, with Q3 administrative expenses up 18% YoY to HKD 310 million [1] User Growth and Market Expansion - Futu's platform users, registered clients, and funded clients increased by 14%, 23%, and 33% YoY respectively in 2024 Q3 [1] - The company added 154,000 new funded clients in Q3, a 138% YoY increase, with significant contributions from Hong Kong and Singapore markets [1] - Overseas markets, including Japan, Canada, Malaysia, and Australia, saw double-digit growth in funded clients in Q3 [1] Special Dividend and Shareholder Returns - Futu announced a special cash dividend of USD 0.25 per ordinary share or USD 2 per ADS, totaling approximately USD 280 million [1] - The dividend represents 8% of the company's equity capital at the end of Q3, with no expected hindrance to future growth [1] Financial Forecasts and Valuation - 2024-2026 net profit forecasts have been revised upwards to HKD 5.03 billion, HKD 5.62 billion, and HKD 6.543 billion respectively [1] - The current market valuation corresponds to 2024-2026 PE ratios of 18.50x, 16.56x, and 14.22x [1] - The company's long-term growth potential is considered substantial, supported by its expansion into overseas markets and user base growth [1]

Financial Data and Key Metrics - Total revenue increased by 30% year-over-year to HK$3.4 billion, driven by growth in brokerage commission, interest income, and other income [16] - Brokerage commission and handling charge income rose by 52% year-over-year to HK$1.5 billion, supported by a 75% increase in total trading volume [17] - Interest income grew by 13% year-over-year to HK$1.7 billion, primarily due to higher margin financing income and bank deposit interest income [18] - Net income increased by 21% year-over-year to HK$1.3 billion, with a net income margin of 38.4%, down from 41.2% in the same quarter last year due to unrealized foreign exchange losses [26] Business Line Performance - Total paying clients reached approximately 2.2 million, up 33% year-over-year, with 154,000 net new paying clients added in Q3 [6] - Wealth management client assets grew by 87% year-over-year and 22% quarter-over-quarter to HK$97 billion, with 27% of paying clients holding wealth management products [12] - IPO distribution and IR clients increased by 17.9% year-over-year to 461, with the company underwriting the three largest Hong Kong IPOs in the first three quarters of 2024 [13] Market Performance - Hong Kong and Singapore collectively contributed over one-third of new paying clients, with Malaysia remaining the top contributor among southern markets [7] - Total client assets grew by 48% year-over-year and 20% quarter-over-quarter to HK$693 billion, driven by strong net asset inflows and market appreciation, particularly in China equities [10] - U.S. stock trading volume grew by 23% quarter-over-quarter to HK$1.53 trillion, fueled by heightened volatility and interest in technology stocks and leveraged ETFs [11] Strategic Direction and Industry Competition - The company continues to iterate on client acquisition strategies and expand product offerings, including U.S. stock Dividend Reinvestment Plan in Hong Kong, NISA savings accounts in Japan, and U.S. options trading in Malaysia [9] - The company is committed to enhancing its brand image in Malaysia and broadening product offerings to strengthen its value proposition as a one-stop investment platform [7] Management Commentary on Operating Environment and Future Outlook - Management highlighted resilient growth in established markets and strong momentum in newer markets, expecting full-year client growth to exceed guidance [6] - The company remains optimistic about the sustainability of net asset inflows from overseas markets, particularly Hong Kong and Singapore [51] Other Important Information - The company announced a special cash dividend of US$0.25 per ordinary share or US$2 per ADS, totaling US$280 million, representing 7.8% of total net equity as of Q3 2024 [27] - The company is in the process of obtaining a VATP license in Hong Kong, with its crypto business already launched and showing meaningful growth in trading volumes [33] Q&A Session Summary Question: Hong Kong stock trading volume and ADR trading volume in Q4 - Hong Kong stock and ADR trading volumes surged in late September and early October, contributing over 50% of total trading volume at one point, but later pulled back due to market conditions [34] - U.S. stock trading volume has seen a meaningful sequential increase in Q4, driven by strong performance around the U.S. election [34] Question: Crypto business and VATP license update - The company's crypto business in Hong Kong has seen significant growth, with daily average trading volumes ranging between US$10 million to US$20 million [33] - The VATP license is still under review, with updates expected in the near future [33] Question: Special dividend and shareholder return plans - The special dividend is part of the company's commitment to shareholder value, with no negative implications expected for client acquisition or operations [42] - Future dividend policies will be revisited based on market conditions and business development [43] Question: Sales and marketing expense breakdown - Over 50% of sales and marketing expenses are salary-related and fixed, with the remainder being variable and dependent on client acquisition [44] - The company expects disciplined headcount growth and will provide more guidance in the next earnings call [44] Question: AUM breakdown and interest income sensitivity - Over half of client asset growth in Q3 came from market appreciation, particularly in China equities, with robust net asset inflows across markets [50] - Interest income is primarily driven by idle cash (40-45%) and margin financing, with no significant impact from U.S. rate cuts observed in Q3 [49] Question: Special dividend rationale and other costs - The company uses a combination of share buybacks and dividends to cater to different shareholder preferences, with no fixed preference for one over the other [57] - Other costs in Q3 were primarily due to unrealized foreign exchange losses, which are expected to reverse in Q4 [58] Question: Strategy in major markets and investor behavior - The company has tailored strategies for each market, focusing on unique product pipelines and client operations, leading to improved client quality and asset growth [63] - Investor behavior has been influenced by macro events, with increased trading activity in U.S. technology stocks and virtual assets around the U.S. election [62]

[Financial & Operational Highlights](index=1&type=section&id=Financial%20%26%20Operational%20Highlights) Futu reported strong growth in the third quarter of 2024, with total revenues increasing 29.6% year-over-year to HK$3,436.1 million and net income rising 20.9% to HK$1,319.2 million, alongside a 33.1% increase in paying clients and a 48.1% surge in total client assets Q3 2024 Key Financial Highlights (YoY) | Metric | Q3 2024 (HK$ million) | YoY Growth | | :--- | :--- | :--- | | Total Revenues | 3,436.1 | +29.6% | | Total Gross Profit | 2,811.3 | +27.0% | | Net Income | 1,319.2 | +20.9% | | Non-GAAP Adjusted Net Income | 1,398.4 | +20.8% | Q3 2024 Key Operational Highlights (YoY) | Metric | As of Sep 30, 2024 | YoY Growth | | :--- | :--- | :--- | | Paying Clients | 2,196,647 | +33.1% | | Registered Clients | 4,284,786 | +22.8% | | Total Users | 24.1 million | +14.4% | | Total Client Assets | HK$693.4 billion | +48.1% | | Total Trading Volume (Q3) | HK$1.90 trillion | +74.7% | | DARTs (Q3) | 698,811 | +68.0% | [Management Commentary](index=1&type=section&id=Management%20Commentary) Management highlighted a significant 138.0% year-over-year increase in new paying clients, with full-year growth expected to exceed guidance, driven by strong performance in established markets and Malaysia as a top contributor - Acquired **154,000 paying clients** in Q3, a **138.0% YoY increase**, with full-year growth expected to comfortably exceed the guidance of 550,000 new paying clients[3](index=3&type=chunk) - Malaysia was the top contributor of new paying clients, while Hong Kong and Singapore collectively contributed over one-third[3](index=3&type=chunk) - Total client assets grew **48.1% YoY to HK$693.4 billion**, with the majority of the quarterly growth driven by the appreciation of clients' stock holdings[6](index=6&type=chunk) - Total trading volume increased **74.7% YoY to HK$1.90 trillion**, led by a sequential increase of 22.9% in U.S. stocks trading volume[6](index=6&type=chunk) - Wealth management asset balance grew **87.5% YoY to HK$97.3 billion**, with **27% of paying clients** holding wealth management products[6](index=6&type=chunk) [Detailed Financial Performance Analysis](index=2&type=section&id=Detailed%20Financial%20Performance%20Analysis) In Q3 2024, Futu's revenues grew 29.6% YoY, primarily from a 51.5% rise in brokerage commissions and a 12.9% increase in interest income, leading to a 31.1% growth in income from operations despite higher expenses [Revenues](index=2&type=section&id=Revenues) Total revenues for Q3 2024 increased by 29.6% year-over-year to HK$3,436.1 million, primarily fueled by a 51.5% surge in brokerage commission and handling charge income and a 12.9% rise in interest income Q3 2024 Revenue Breakdown (HK$ million) | Revenue Component | Q3 2023 (HK$ million) | Q3 2024 (HK$ million) | YoY Growth | | :--- | :--- | :--- | :--- | | Brokerage commission & handling charge | 1,008.9 | 1,528.9 | +51.5% | | Interest income | 1,504.5 | 1,698.8 | +12.9% | | Other income | 137.1 | 208.5 | +52.1% | | **Total Revenues** | **2,650.4** | **3,436.1** | **+29.6%** | - The increase in brokerage commission income was mainly due to the **74.7% YoY increase in total trading volume**, although the blended commission rate declined from 9.3 bps to 8.0 bps[7](index=7&type=chunk) - Interest income growth was driven by higher margin financing income and increased income from the securities borrowing and lending business[8](index=8&type=chunk) [Costs and Gross Profit](index=3&type=section&id=Costs%20and%20Gross%20Profit) Total costs rose 42.9% YoY to HK$624.9 million, driven by higher interest expenses and processing costs, resulting in a 27.0% growth in total gross profit to HK$2,811.3 million Q3 2024 Costs & Gross Profit (HK$ million) | Item | Q3 2023 (HK$ million) | Q3 2024 (HK$ million) | YoY Growth | | :--- | :--- | :--- | :--- | | Total Costs | 437.4 | 624.9 | +42.9% | | Total Gross Profit | 2,213.0 | 2,811.3 | +27.0% | - Interest expenses increased by **43.3%** due to higher costs associated with the securities borrowing and lending business[10](index=10&type=chunk) - Gross margin was **81.8%** in Q3 2024, compared to 83.5% in Q3 2023[11](index=11&type=chunk) [Operating Expenses](index=3&type=section&id=Operating%20Expenses) Total operating expenses increased by 20.9% YoY to HK$1,079.9 million, primarily due to a 48.5% jump in selling and marketing expenses driven by new client acquisition Q3 2024 Operating Expenses Breakdown (HK$ million) | Expense Component | Q3 2023 (HK$ million) | Q3 2024 (HK$ million) | YoY Growth | | :--- | :--- | :--- | :--- | | Research & development | 359.5 | 384.7 | +7.0% | | Selling & marketing | 211.7 | 314.3 | +48.5% | | General & administrative | 321.7 | 380.9 | +18.4% | | **Total Operating Expenses** | **892.9** | **1,079.9** | **+20.9%** | - The increase in selling and marketing expenses was driven by a **138.0% YoY increase in new paying clients**, which was partially offset by lower client acquisition costs[13](index=13&type=chunk) [Profitability](index=4&type=section&id=Profitability) Income from operations grew 31.1% YoY to HK$1,731.3 million, with net income increasing 20.9% to HK$1,319.2 million, despite a decline in net income margin due to foreign exchange losses Q3 2024 Profitability Metrics (HK$ million) | Metric | Q3 2023 (HK$ million) | Q3 2024 (HK$ million) | YoY Growth | | :--- | :--- | :--- | :--- | | Income from Operations | 1,320.2 | 1,731.3 | +31.1% | | Net Income | 1,091.2 | 1,319.2 | +20.9% | | Non-GAAP Adjusted Net Income | 1,158.0 | 1,398.4 | +20.8% | - Operating margin increased to **50.4%** from 49.8% in Q3 2023[14](index=14&type=chunk) - Net income margin declined to **38.4%** from 41.2% YoY, attributed to unrealized foreign exchange losses from the appreciation of the Renminbi[15](index=15&type=chunk) - Diluted net income per ADS was **HK$9.42 (US$1.21)**, compared with HK$7.86 in Q3 2023[17](index=17&type=chunk) [Special Cash Dividend](index=2&type=section&id=Special%20Cash%20Dividend) Futu's board approved a special cash dividend of US$0.25 per ordinary share (US$2.00 per ADS), totaling approximately US$280 million, with a record date of December 6, 2024 - The board approved a special cash dividend of **US$0.25 per ordinary share**, equivalent to **US$2.00 per ADS**[6](index=6&type=chunk) - The aggregate dividend amount is approximately **US$280 million**, funded by surplus cash on the balance sheet[6](index=6&type=chunk) - The record date for the dividend is the close of business on **December 6, 2024**, with payment expected on or around **January 10, 2025**[6](index=6&type=chunk)[18](index=18&type=chunk) [Financial Statements](index=7&type=section&id=Financial%20Statements) The unaudited financial statements provide a detailed view of Futu's financial position and performance, including balance sheets, comprehensive income statements, and non-GAAP reconciliations [Unaudited Condensed Consolidated Balance Sheets](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2024, Futu's total assets increased to HK$143.5 billion from HK$97.1 billion at the end of 2023, driven by significant increases in client-related cash and payables Selected Balance Sheet Items (HK$ thousands) | Account | Dec 31, 2023 (HK$ thousands) | Sep 30, 2024 (HK$ thousands) | | :--- | :--- | :--- | | **Total Assets** | **97,135,847** | **143,462,024** | | Cash and cash equivalents | 4,937,538 | 9,048,504 | | Cash held on behalf of clients | 44,369,310 | 66,419,953 | | **Total Liabilities** | **72,564,116** | **115,043,807** | | Payables: Clients | 48,762,263 | 77,072,065 | | **Total Equity** | **24,571,731** | **28,418,217** | [Unaudited Condensed Consolidated Statements of Comprehensive Income](index=9&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) For Q3 2024, Futu generated total revenues of HK$3,436.1 million, resulting in a net income of HK$1,319.2 million and diluted earnings per ADS of HK$9.42 Q3 2024 Income Statement Summary (HK$ thousands) | Account | Q3 2023 (HK$ thousands) | Q3 2024 (HK$ thousands) | | :--- | :--- | :--- | | Total Revenues | 2,650,415 | 3,436,132 | | Total Gross Profit | 2,213,018 | 2,811,252 | | Income from Operations | 1,320,164 | 1,731,307 | | Net Income | 1,091,157 | 1,319,166 | | Diluted Net Income per ADS (HK$) | 7.86 | 9.42 | [Reconciliation of Non-GAAP and GAAP Results](index=11&type=section&id=Reconciliation%20of%20Non-GAAP%20and%20GAAP%20Results) The company provides a reconciliation of GAAP to non-GAAP results by excluding share-based compensation expenses, showing a non-GAAP adjusted net income of HK$1,398.4 million for Q3 2024 Q3 2024 Non-GAAP Reconciliation (HK$ thousands) | Item | Q3 2023 (HK$ thousands) | Q3 2024 (HK$ thousands) | | :--- | :--- | :--- | | Net income (GAAP) | 1,091,157 | 1,319,166 | | Add: Share-based compensation | 66,812 | 79,247 | | **Adjusted net income (Non-GAAP)** | **1,157,969** | **1,398,413** | [Supplementary Information](index=4&type=section&id=Supplementary%20Information) This section provides details for the earnings conference call, definitions of non-GAAP financial measures, currency exchange rates, and the safe harbor statement for forward-looking information - An earnings conference call is scheduled for **Tuesday, November 19, 2024, at 7:30 AM U.S. Eastern Time**[19](index=19&type=chunk) - Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses, which management uses to evaluate operating performance[24](index=24&type=chunk) - The exchange rate used for convenience translation is **HK$7.7693 to US$1.00**, the rate in effect on September 30, 2024[27](index=27&type=chunk)

Core Insights - Futu Holdings Ltd. reported Q3 2024 earnings with revenues of US$442.3 million, a 29.6% year-over-year increase, and non-GAAP adjusted net income of US$180 million, reflecting a 20.8% year-over-year growth [1] User Growth and Client Assets - The company achieved over 24.1 million global users and nearly 2.2 million paying clients by the end of Q3, marking a 14.4% and 33.1% year-over-year increase respectively [2] - Total client assets reached US$89.2 billion, showing a 19.7% quarter-over-quarter and 48.1% year-over-year increase [2] Trading Volume and Market Performance - Total trading volume across platforms increased to US$245 billion, up 17.4% quarter-over-quarter and 74.7% year-over-year [3] - US stock trading volume grew by 23% quarter-over-quarter and 90% year-over-year, with significant growth in Canada and Malaysia [4] Localization Strategy - The company implemented a localized market strategy, launching a Dividend Reinvestment Plan for US stocks in Australia and introducing fund products in Japan and Malaysia [6] - Paying clients grew across all seven markets, with notable increases in Japan, Canada, Malaysia, and Australia [7] Community Engagement and Financial Literacy - The company hosted MooFest in Singapore, Malaysia, and Japan, attracting nearly 10,000 investors to promote financial literacy [8] Expansion of Offerings - Moomoo expanded access to various exchanges in Malaysia and became the first licensed brokerage to offer US options trading in the country [9] - The company launched crypto trading services in Hong Kong and Singapore, receiving positive feedback [9] Wealth Management Growth - Total assets under management reached US$12.5 billion, with a record-breaking 22% quarter-over-quarter growth [10]

Core Viewpoint Futu Holdings Limited reported strong growth in its third quarter of 2024, with significant increases in client numbers, trading volume, and financial performance metrics, indicating robust demand for its online brokerage and wealth management services. Operational Highlights - The total number of paying clients increased by 33.1% year-over-year to 2,196,647 as of September 30, 2024 [2] - Registered clients rose by 22.8% year-over-year to 4,284,786 [2] - Total users grew by 14.4% year-over-year to 24.1 million [2] - Total client assets surged by 48.1% year-over-year to HK$693.4 billion [2] - Daily average client assets were HK$593.2 billion, up 23.4% from the same period in 2023 [2] - Total trading volume increased by 74.7% year-over-year to HK$1.90 trillion [2] - Daily average revenue trades (DARTs) rose by 68.0% year-over-year to 698,811 [2] - Margin financing and securities lending balance increased by 25.5% year-over-year to HK$40.6 billion [2] Financial Highlights - Total revenues increased by 29.6% year-over-year to HK$3,436.1 million (US$442.3 million) [3] - Total gross profit rose by 27.0% year-over-year to HK$2,811.3 million (US$361.8 million) [3] - Net income increased by 20.9% year-over-year to HK$1,319.2 million (US$169.8 million) [3] - Non-GAAP adjusted net income grew by 20.8% year-over-year to HK$1,398.4 million (US$180.0 million) [3] Client Acquisition and Market Performance - The company acquired 154,000 paying clients in Q3 2024, a 138.0% increase year-over-year [4] - Hong Kong and Singapore contributed over one-third of new paying clients [4] - Malaysia was the top contributor of new paying clients, driven by brand investment and new product offerings [4] - Total trading volume for U.S. stocks was HK$1.53 trillion, while Hong Kong stocks accounted for HK$347.7 billion [4] Wealth Management and Dividends - Wealth management asset balance reached HK$97.3 billion, up 87.5% year-over-year [4] - The company announced a special cash dividend of US$0.25 per ordinary share, totaling approximately US$280 million [5]

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Futu Holdings Limited Sponsored ADR (FUTU) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.Futu Holdings Limited Sponsored AD ...

HONG KONG, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced that it will report its financial results for the third quarter ended September 30, 2024, before U.S. markets open on November 19, 2024. Futu's management will hold an earnings conference call on Tuesday, November 19, 2024, at 7:30 AM U.S. Eastern Time (8:30 PM on the same day, Beijing/Hong Kong Time). Please note ...

Futu Holdings Limited Sponsored ADR (FUTU) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Sin ...