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]

Exhibit 99.1 Futu Announces Third Quarter 2024 Unaudited Financial Results and Special Cash Dividend HONG KONG, November 19, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited ("Futu" or the "Company") (Nasdaq: FUTU), a leading tech- driven online brokerage and wealth management platform, today announced its unaudited financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Operational Highlights Third Quarter 2024 Financial Highlights Mr. Leaf Hua Li, Futu's Chairman and Chief Execu ...

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]

HONG KONG, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced its unaudited financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Operational Highlights Total number of paying clients1 increased 33.1% year-over-year to 2,196,647 as of September 30, 2024.Total number of registered clients2 increased 22.8% year-over-year to 4,284,786 as of Septemb ...

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 ...

Chinese stocks experienced significant gains. Notably, Trip.com Group (CTRP, Financial) saw its shares increase by 8%. Li Auto (LI) experienced a rise of over 6%.JD.com (JD) and Futu Holdings (FUTU) both reported growth of more than 5%, while Alibaba (BABA) and Baidu (BIDU) shares also climbed, each gaining nearly 4%. ...

The rocket fuel provided by the Chinese government's stimulus was only one factor in the company's pop. A monster analyst price target increase, combined with recent market-shaking news from its home government, helped push Futu Holdings (FUTU 8.81%) stock notably higher in value across the past few trading days. As of late Thursday afternoon, the Chinese online brokerage's shares were up by a very impressive 43% week to date, according to data compiled by S&P Global Market Intelligence. (Almost) doubling d ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of $90, indicating a potential upside of 50.7% from the current price of $59.71 [2][9]. Core Insights - The company's revenue significantly exceeded expectations, with a year-on-year increase of 25.9% in Q2 2024, driven by higher trading volumes and interest income. The net profit for Q2 2024 was HKD 1.209 billion, reflecting an 8.0% year-on-year growth [1][2]. - The company has shown strong growth in new paying customers, adding 155,000 in Q2 2024, bringing the total to 2.04 million, a 28.8% increase year-on-year. The annual guidance for new paying customers has been raised from 400,000 to 550,000 [1][2]. - The trading commission rate has rebounded, with Q2 trading volume reaching HKD 1.62 trillion, a 69% year-on-year increase. The average commission rate was 8.5 basis points, slightly up from the previous quarter [1][2]. Financial Overview - Revenue for 2024 is projected to be HKD 11.616 billion, with a net profit of HKD 4.539 billion, reflecting a year-on-year growth of approximately 6% [2][4]. - The average customer acquisition cost in Q2 2024 was HKD 2,182, which, while higher than Q1, remains significantly lower than the average for 2023 [1][2]. - The company's wealth management assets grew by 84% year-on-year, now accounting for 14% of total customer assets, with a penetration rate exceeding 25% [1][2]. Customer and Market Performance - The company reported a total of 2.04 million paying customers as of the end of Q2 2024, with significant contributions from the Malaysian market, despite a slight decline in growth rate [1][2]. - The average assets per customer remained stable at HKD 284, with total customer assets reaching HKD 579.3 billion in Q2 2024 [1][5].