FUTU(US:FUTU)2025-08-20 12:32Financial Data and Key Metrics Changes - Total funded accounts reached approximately 2,900,000, representing a 41% increase year over year and an 8% rise quarter over quarter [5] - Total client assets hit a record HKD 974 billion, up 68% year over year and 17% quarter over quarter [9] - Total revenue was HKD 5.3 billion, up 70% from HKD 3.1 billion in the previous year [13] - Net income increased by 113% year over year and 20% quarter over quarter to HKD 2.6 billion, with a net income margin expanding to 48.4% [21] Business Line Data and Key Metrics Changes - Brokerage commission and handling charge income was HKD 2.6 billion, an increase of 87% year over year and 12% quarter over quarter [13] - Interest income was HKD 2.3 billion, up 44% year over year and 11% quarter over quarter [14] - Wealth management client assets were HKD 163.2 billion, up 104% year over year and 17% quarter over quarter [11] Market Data and Key Metrics Changes - The US business showed robust growth, with significant increases in trading volume and client engagement [6][10] - In Japan, total trading volume increased by over 50% quarter over quarter, indicating strong market engagement [39] - The Hong Kong IPO market gained momentum, with the company acting as joint book runners for multiple listings, attracting a record number of subscribers [12] Company Strategy and Development Direction - The company aims to become an influential global financial services platform, with over 50% of funded accounts from clients outside of Hong Kong [5] - Plans to enhance brand acquisition through physical store rollouts and new product offerings in wealth management and crypto trading [26] - The company is focusing on integrating AI capabilities into its services to improve client engagement and investment efficiency [32][40] Management's Comments on Operating Environment and Future Outlook - Management noted strong asset inflows due to favorable market conditions and enriched product offerings [24] - The company expects steady growth in client acquisitions and trading volume in the third quarter, driven by positive market sentiment [46] - Management expressed optimism about growth prospects in the US market, supported by strategic partnerships and product innovations [50] Other Important Information - The company launched cryptocurrency trading in most US states and plans to introduce new functionalities for crypto trading [26] - The average client assets in Singapore rose 1926% quarter over quarter, reflecting strong market performance [9] Q&A Session Summary Question: What is the reasoning behind the strong net asset inflow and how will the company maintain momentum? - Management attributed strong asset inflow to favorable market performance and enriched product offerings, with plans for more physical stores and new products in the second half [24][26] Question: Can you provide details on the crypto trading performance and future plans? - Management reported strong momentum in crypto trading, with significant increases in asset value and trading volume, and plans for new product offerings [26][27] Question: What are the strategic views on the crypto business and potential for monetization? - Management outlined a four-part strategy (RACE) focusing on real-world assets, advanced technologies, conversions between traditional finance and crypto, and exchange licensing [31][34] Question: What is the competitive landscape in Japan and how is the company addressing it? - Management acknowledged strong competition from incumbents but emphasized the unique value proposition for self-directed investors and ongoing branding efforts [37][40] Question: Can you provide insights on the third quarter expectations for client acquisitions and trading volume? - Management expects steady growth in client acquisitions and trading volume, supported by positive market sentiment and ongoing product development [46][48]