Futu Announces 1st Quarter 2023 Unaudited Financial Results.

HONG KONG: 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 first quarter ended March 31, 2023.

First Quarter 2023 Operational Highlights

Total number of paying clients1 increased 15.2% year-over-year to 1,528,103 as of March 31, 2023.

Total number of registered clients2 increased 13.5% year-over-year to 3,304,758 as of March 31, 2023.

Total number of users3 increased 10.5% year-over-year to 20.0 million as of March 31, 2023.

Total client assets increased 20.6% year-over-year to HK$465.5 billion as of March 31, 2023.

Daily average client assets were HK$453.0 billion in the first quarter of 2023, an increase of 16.7% from the same period in 2022.

Total trading volume in the first quarter of 2023 declined 7.8% year-over-year to HK$1.2 trillion, in which trading volume for U.S. stocks was HK$827.6 billion, trading volume for Hong Kong stocks was HK$372.2 billion, and trading volume for stocks under the Stock Connect was HK$20.0 billion.

Daily average revenue trades (DARTs)4 in the first quarter of 2023 declined 13.7% year-over-year to 514,105.

Margin financing and securities lending balance increased 35.3% year-over-year to HK$34.5 billion as of March 31, 2023.

First Quarter 2023 Financial Highlights

Total revenues increased 52.3% year-over-year to HK$2,499.9 million (US$318.5 million).

Total gross profit increased 56.3% year-over-year to HK$2,209.0 million (US$281.4 million).

Net income increased 108.4% year-over-year to HK$1,191.8 million (US$151.8 million).

Non-GAAP adjusted net income5 increased 103.8% year-over-year to HK$1,268.0million (US$161.5 million).

Mr. Leaf Hua Li, Futu's Chairman and Chief Executive Officer, said, "As of quarter end, total paying clients grew 15.2% year-over-year to over 1.5 million. Hong Kong market contributed over one-third of new paying clients in the first quarter as client acquisition accelerated during the equity market rally in January. Paying client growth in Singapore remained resilient as we continued to build brand awareness through offline investor education events and catered to investor demand for lower risk fund products. We introduced new products in various markets, including 24/5 U.S. stock trading in Hong Kong, leveraged foreign exchange trading in Singapore which enables trading 36 major currency pairs on margin, and multi-leg options strategy orders...