FutuAnnouncesFirstQuarter2023UnauditedFinancialResults May24,2023 HONGKONG,May24,2023(GLOBENEWSWIRE)--FutuHoldingsLimited(“Futu”orthe“Company”)(Nasdaq:FUTU),aleadingtech-drivenonlinebrokerageandwealthmanagementplatform,todayannounceditsunauditedfinancialresultsforthefirstquarterendedMarch31,2023. FirstQuarter2023OperationalHighlights Totalnumberofpayingclients1increased15.2%year-over-yearto1,528,103asofMarch31,2023.Totalnumberofregisteredclients2increased13.5%year-over-yearto3,304,758asofMarch31,2023.Totalnumberofusers3increased10.5%year-over-yearto20.0millionasofMarch31,2023. Totalclientassetsincreased20.6%year-over-yeartoHK$465.5billionasofMarch31,2023. DailyaverageclientassetswereHK$453.0billioninthefirstquarterof2023,anincreaseof16.7%fromthesameperiodin2022. Totaltradingvolumeinthefirstquarterof2023declined7.8%year-over-yeartoHK$1.2trillion,inwhichtradingvolumeforU.S.stockswasHK$827.6billion,tradingvolumeforHongKongstockswasHK$372.2billion,andtradingvolumeforstocksundertheStockConnectwasHK$20.0billion. Dailyaveragerevenuetrades(DARTs)4inthefirstquarterof2023declined13.7%year-over-yearto514,105.Marginfinancingandsecuritieslendingbalanceincreased35.3%year-over-yeartoHK$34.5billionasofMarch31,2023. FirstQuarter2023FinancialHighlights Totalrevenuesincreased52.3%year-over-yeartoHK$2,499.9million(US$318.5million).Totalgrossprofitincreased56.3%year-over-yeartoHK$2,209.0million(US$281.4million).Netincomeincreased108.4%year-over-yeartoHK$1,191.8million(US$151.8million). Non-GAAPadjustednetincome5increased103.8%year-over-yeartoHK$1,268.0million(US$161.5million). Mr.LeafHuaLi,Futu’sChairmanandChiefExecutiveOfficer,said,“Asofquarterend,totalpayingclientsgrew15.2%year-over-yeartoover1.5million.HongKongmarketcontributedoverone-thirdofnewpayingclientsinthefirstquarterasclientacquisitionacceleratedduringtheequitymarketrallyinJanuary.PayingclientgrowthinSingaporeremainedresilientaswecontinuedtobuildbrandawarenessthroughofflineinvestoreducationeventsandcateredtoinvestordemandforlowerriskfundproducts.Weintroducednewproductsinvariousmarkets,including24/5U.S.stocktradinginHongKong,leveragedforeignexchangetradinginSingaporewhichenablestrading36majorcurrencypairsonmargin,andmulti-legoptionsstrategyordersforU.S.stocksintheU.S.Aswecontinuedtoexpandproductofferingsandenhanceuserexperience,werecordedanotherquarterofrobustpayingclientretentionrateofover98%despitemarketweaknessandheadlineregulatorynews.” “Totalclientassetsincreasedby20.6%year-over-yearand11.5%quarter-over-quartertoHK$465.5billion.Thegrowthwasmainlyduetohighermarketvaluationonclients’stockholdings,andtoalesserextent,netassetinflow.InSingapore,totalclientassetsandaverageclientassetsincreasedby28%and22%quarter-over-quarter,respectively,attributabletosolidnetassetinflowacrossclientcohortsandfavorableU.S.equitymarketperformance.” “Totaltradingvolumeincreased11.9%sequentiallytoHK$1.2trillion.HighertradingturnoverinU.S.technologynamesledU.S.stocktradingvolumetoincrease22.6%quarter-over-quartertoHK$827.6billion.HongKongstocktradingvolumedeclined6.2%sequentiallytoHK$372.2billionastheequitymarketcorrectionsinceFebruaryweighedoninvestorsentiments.Weobservedelevatedmarginfinancingandsecuritieslendingactivitiesaroundtechnologystocks,sendingthebalanceupby29.6%sequentiallytoHK$34.5billionatquarterend.” “TotalclientassetsinwealthmanagementgrewHK$5.4billioninthequartertoreachHK$37.0billion,representinga77.4%growthyear-over-yearand17.2%growthquarter-over-quarter.InSingapore,weendedthequarterwitha69%sequentialincreaseintotalclientassetsasmoneymarketfundscontinuedtogaintraction.Asofquarterend,15%ofourpayingclientsinSingaporeheldwealthmanagementproducts,upfrom1%intheyear-agoquarter.Intermsofnewproductofferings,welaunchedbondtradinginSingaporeandfixedcouponnotes(FCNs)anddigitalnotesforprofessionalinvestorsinHongKong,whichledtoafive-foldjumpinstructuredproductassetbalance.” “Wehad353IPOdistributionandIRclientsaswellas662ESOPclientsasofquarterend,up37%and44%year-over-year,respectively.Weactedasjointleadmanagersforseveralhigh-profileHKIPOs,includingthoseofBeautyFarmMedicalandHealthIndustryInc.andYHEntertainmentGroup.” “Wearealsopleasedtoannouncethatourwholly-ownedMalaysiasubsidiary,FutuMalaysiaSdn.Bhd.,hasreceivedtheapproval-in-principlefortheCapitalMarketsServicesLicense(CMSL)fromtheSecuritiesCommissionMalaysia(SC).WelookforwardtotappingintotheimmensemarketopportunityinMalaysiaandfurtherstrengtheningourpresenceintheSoutheastAsianmarket.” FirstQuarter2023FinancialResultsRevenues TotalrevenueswereHK$2,499.9million(US$318.5million),anincreaseof52.3%fromHK$1,641.0millioninthefirstquarterof2022. BrokeragecommissionandhandlingchargeincomewasHK$1,079.3million(US$137.5million),anincreaseof11.6%fromthefirstquarterof2022.Thiswasmainlydrivenbyanincreaseinblendedcommissionratefrom7.3bpsto8.8bps. InterestincomewasHK$1,294.3million(US$164.9million),anincreaseof125.0%fromthefirstquarterof2022.Theincreasewasmainlydrivenbyhigherinterestincomefrombankdepositsandsecuritiesborrowingandlendingbusiness. Other