Futu Announces Third Quarter 2024 Unaudited Financial Results and Special Cash Dividend

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]