Futu Reports Strong Q1 2025 Growth Driven by New Accounts

Futu’s Chairman and CEO, Mr. Leaf Hua Li, announced that the company added approximately 262,000 funded accounts in Q1 2025, marking a 47.8% year-over-year and 21.9% quarter-over-quarter growth. Total funded accounts rose to 2.7 million, up 41.6% annually and 10.9% sequentially. Hong Kong was the leading source for new accounts, fueled by an effective marketing strategy during a market rally and IPO boom. Malaysia showed the highest sequential growth in funded accounts, with further growth potential anticipated. Japan also reported significant account growth, positioning itself as a key player in U.S. stock trading. U.S. funded account growth accelerated due to improved offerings for active traders and increased brand visibility from advertising. With one-third of its full-year target met, Futu aims for 800,000 net new funded accounts in 2025.

Total client assets reached HK$829.8 billion, a 60.2% year-over-year and 11.6% quarter-over-quarter increase due to record net asset inflows. In Singapore, client assets grew 11.4% sequentially, continuing a trend of double-digit growth. Average client assets in Canada and Australia also increased for five consecutive quarters. Margin financing and securities lending balances remained stable at HK$50.3 billion, impacted by reduced risk appetite in the second half of the quarter.

Total trading volume hit HK$3.22 trillion, up 140.1% year-over-year and 11.4% from the previous quarter. U.S. stock trading volume grew 8.2% sequentially to HK$2.25 trillion, as clients targeted technology and semiconductor stocks. Hong Kong stock trading volume rose 21.4% quarter-over-quarter to HK$916 billion, driven by renewed investor interest.

Futu introduced innovative products to enhance the retail investment experience. In Hong Kong, the company launched Futubull AI, an AI-powered investment assistant, and a new desktop version with advanced features. In Japan, Futu improved U.S. offerings by rolling out fractional shares trading and launching options trading in April.

Wealth management client assets totaled HK$139.2 billion by the end of the quarter, up 117.7% year-over-year and 25.6% sequentially. Approximately 29% of funded accounts are now invested in wealth management products, compared to 28% last quarter. Money market funds remained popular as investors sought stable returns during market volatility. In Hong Kong and Singapore, the company expanded its structured product offerings, introducing FX-linked notes and onboarding equity funds in Malaysia and money market funds in Japan.

Futu reported 498 IPO distribution and investor relations clients at the quarter’s end, a 15.8% year-over-year increase. The company served as a joint lead manager for several high-profile Hong Kong IPOs, including Bloks Group and Guming Holdings, and was the exclusive online broker for both. Notably, the MIXUE Group IPO attracted over 70,000 clients, leading to HK$1 trillion in subscriptions, making Futu the top broker in subscriber numbers and total amounts.

First Quarter 2025 Financial Results

Revenues

Total revenues for Q1 2025 reached HK$4,694.6 million (US$603.4 million), up 81.1% from HK$2,592.5 million in Q1 2024.

Brokerage commission and handling charges increased to HK$2,310.2 million (US$296.9 million), a 113.5% rise driven by higher trading volumes, despite a decline in blended commission rates.

Interest income climbed to HK$2,070.5 million (US$266.1 million), up 52.9% year-over-year, fueled by growth in securities borrowing, lending, margin financing, and bank deposits.

Other income reached HK$313.9 million (US$40.4 million), growing 101.0% due to increased fund distribution service income and currency exchange income.

Costs

Total costs were HK$749.0 million (US$96.3 million), an increase of 59.3% from HK$470.2 million in Q1 2024.

Brokerage commission and handling charge expenses rose to HK$143.5 million (US$18.4 million), increasing by 138.0% and aligning with income growth.

Interest expenses were HK$469.3 million (US$60.3 million), a 50.0% increase, primarily due to higher costs in securities borrowing and lending and margin financing.

Processing and servicing costs increased to HK$136.1 million (US$17.5 million), up 40.2%, reflecting higher expenses for market information and enhanced data coverage.

Gross Profit

Total gross profit was HK$3,945.7 million (US$507.2 million), an 85.9% increase from HK$2,122.2 million in Q1 2024, with a gross margin of 84.0%, up from 81.9%.

Operating Expenses

Total operating expenses reached HK$1,260.4 million (US$162.0 million), up 35.6% from HK$929.5 million in Q1 2024.

Research and development expenses were HK$386.0 million (US$49.6 million), increasing by 15.1% due to investments in AI and technology initiatives.

Selling and marketing expenses rose to HK$459.2 million (US$59.0 million), an increase of 56.9%, driven by robust growth strategies.

# Futu Holdings Reports Strong Q1 2025 Financial Results

## Financial Overview

Futu Holdings Limited (Nasdaq: FUTU) announced significant growth in its financial performance for the first quarter of 2025. General and administrative expenses reached HK$415.2 million (US$53.4 million), marking a 37.8% increase from the previous quarter, mainly due to hiring to support international market expansion.

## Income from Operations

Income from operations surged by 125.1% to HK$2,685.3 million (US$345.2 million), up from HK$1,192.7 million in the first quarter of 2024. The operating margin improved to 57.2%, compared to 46.0% in the prior year, driven by strong revenue growth and operational efficiency.

## Net Income Growth

Net income for the quarter rose 107.0% to HK$2,142.7 million (US$275.4 million), up from HK$1,035.1 million in the first quarter of 2024. The net income margin increased to 45.6%, from 39.9% in the same quarter last year. Non-GAAP adjusted net income also climbed by 97.7% to HK$2,216.9 million (US$285.0 million).

## Earnings per ADS

The basic net income per American Depositary Share (ADS) was HK$15.44 (US$1.98), compared to HK$7.53 in the first quarter of 2024. Diluted net income per ADS stood at HK$15.28 (US$1.96), up from HK$7.46 in the previous year.

## Upcoming Conference Call

Futu’s management will discuss the earnings during a conference call on Thursday, May 29, 2025, at 7:30 AM U.S. Eastern Time. Participants must pre-register for the call through the provided link.

## Company Background

Futu Holdings Limited specializes in digital financial services through its platforms, Futubull and moomoo. The firm offers various investment services, leveraging social media tools to connect users with broader market participants.

## Use of Non-GAAP Financial Measures

Futu utilizes non-GAAP adjusted net income to evaluate operating performance, excluding share-based compensation expenses. This measure allows management to assess operating results more effectively.

## Exchange Rate Information

Financial results include translations of Hong Kong dollars (HK$) to U.S. dollars (US$) at an exchange rate of HK$7.7799 to US$1.00, effective March 31, 2025.

## Safe Harbor Statement

This announcement contains forward-looking statements as defined by the U.S. Private Securities Litigation Reform Act of 1995, which may involve risks and uncertainties regarding the company’s plans and expectations.

Futu Holdings Reports Financial Performance and Risks

Futu Holdings Limited highlights inherent risks and uncertainties affecting financial outcomes. The company’s goals, expansion plans, and future development may differ from current forecasts due to various factors. These include market demand for credit products and maintaining relationships with borrowers and funding partners. General economic conditions also play a significant role.

For further details about these risks, consult Futu’s SEC filings. The data presented in this press release is current as of its release date. Futu does not commit to updating forward-looking statements unless required by law.

For investor inquiries, please contact:

Investor Relations
Futu Holdings Limited
[email protected]

___________________________

¹The number of funded accounts refers to brokerage accounts with a positive balance. Multiple accounts by a single client count as one funded account.

²Multiple brokerage accounts by one client are counted as one account.

³The number of users counts registered user accounts.

⁴Non-GAAP adjusted net income excludes share-based compensation expenses.

FUTU HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except for share and per share data)
	As of December 31,		As of March 31,
	2024		2025		2025
ASSETS
Cash and cash equivalents	11,688,383		6,495,155		834,864
Cash held on behalf of clients	68,639,816		88,246,095		11,342,832
Restricted cash	1,121		7,857		1,010
Term deposit	4,990		5,240		674
Short-term investments	2,411,074

Financial Overview: Current Assets Breakdown for 2024 and 2025

Current Assets Overview	December 31, 2024		March 31, 2025
Securities purchased under agreements to resell	316,301		468,788		60,256
Loans and advances – current (net of allowance of HK$85,252 thousand and HK$133,380 thousand as of December 31, 2024 and March 31, 2025, respectively)	49,695,691		48,552,818		6,240,802
Receivables:
Clients	534,077		717,361		92,207
Brokers	17,224,387		17,913,085		2,302,483
Clearing organizations	3,277,063		8,189,215		1,052,612
Fund management companies and fund distributors	1,210,472		1,773,358		227,941
Interest	597,483		624,324		80,248
Amounts due from related parties	61,200		–		–
Prepaid assets	63,497		68,993		8,868
Other current assets	160,330		753,181		96,811
Total current assets	155,885,885

# Financial Overview: Key Asset and Liability Figures

## Summary of Non-Current Assets

– **Operating Lease Right-of-Use Assets**:
– $253,212
– $390,760
– $50,227

– **Long-Term Investments**:
– $573,190
– $698,183
– $89,742

– **Loans and Advances – Non-Current**:
– $18,805
– $18,843
– $2,422

– **Other Non-Current Assets**:
– $2,025,841
– $3,055,412
– $392,730

### Total Non-Current Assets
– $2,871,048
– $4,163,198
– $535,121

### Total Assets
– $158,756,933
– $180,638,414
– $23,218,603

## Overview of Liabilities

### Amounts Due to Related Parties
– $79,090
– $154,011
– $19,796

## Payables
– Additional details regarding payables are forthcoming.

This summary provides essential insights into the company’s current financial situation, focusing on critical assets and liabilities.# Financial Summary of Client, Broker, and Fund Data

### Client Overview
The total number of clients reported is **72,379,135**. This figure represents a significant market presence.

### Broker Statistics
Broker figures show a total of **43,697,746** active brokers. This includes a notable segment of **38,246,431** brokers across various categories.

### Clearing Organizations
The data indicates **503,396** clearing organizations are active in the market, with **357,842** classified under significant categories.

### Fund Management and Distribution
Fund management companies and distributors have reported a total of **507,076** entities. The statistics reveal **1,509,340** funds actively distributed, including **194,005** specialized funds.

### Interest Figures
Interest rates are at **86,964**, while rates in specific sectors show **69,180**. Additional niche areas report a modest **8,892**.

### Borrowing and Securities Data
Total borrowings registered at **5,702,259**, with additional totals showing **9,897,658** in active borrowings across sectors. Securities sold under repurchase agreements reached **2,574,659**, indicating liquidity levels.

### Current Lease Liabilities
Lastly, current lease liabilities are reported at **144,357**, highlighting ongoing financial commitments in the sector.# Financial Summary: Current and Non-Current Liabilities Reported

### Current Liabilities Overview
Current liabilities for the reporting period totaled **$130,611,487**, which includes accrued expenses and other current liabilities amounting to **$4,936,805**.

Comparatively, total current liabilities reported in the previous period were **$150,064,700**. Other current liabilities saw variations with individual line items like lease liabilities contributing **$132,750** and additional current liabilities listed at **$17,063**.

### Non-Current Liabilities Breakdown
Non-current liabilities totaled **$140,985**. This figure includes lease liabilities at **$132,924** and other non-current liabilities at **$8,061**. In the last report, non-current liabilities totaled **$283,596**.

### Summary of Total Liabilities
The cumulative total liabilities at the end of this reporting period stand at **$130,752,472**. This reflects a significant shift from the previous period’s liabilities.

**Note**: All figures reported are in USD. Further analysis may be required for detailed insights on the underlying factors driving these changes.# Shareholders’ Equity Breakdown for Class A and B Ordinary Shares

## Key Equity Figures

– **Total Shares Outstanding:**
Class A: 150,348,296
Class B: 19,325,223

## Breakdown of Shareholders’ Equity

### Class A Ordinary Shares
– **Count:** 72
– **Count:** 72
– **Count:** 9

### Class B Ordinary Shares
– **Count:** 27
– **Count:** 27
– **Count:** 3

### Additional Paid-In Capital
– **Class A Amount:** 18,807,369
– **Class B Amount:** 18,885,107
– **Combined:** 2,427,423

### Treasury Stock
– **Balance:**
Class A: (5,199,257)
Class B: (5,199,257)
Additional: (668,294)

### Accumulated Other Comprehensive Loss
– **Class A Loss:** (249,916)
– **Class B Loss:** (184,687)
– **Combined Loss:** (23,739)# Company Reports Significant Changes in Financial Metrics

## Retained Earnings

Retained earnings are reported as follows:
– Current: **14,652,946**
– Previous: **16,798,269**
– Change: **2,159,188**

## Total Shareholders’ Equity

The total shareholders’ equity figures are:
– Current: **28,011,241**
– Previous: **30,299,531**
– Change: **3,894,590**

## Non-controlling Interest

Non-controlling interests show the following values:
– Current: **(6,780)**
– Previous: **(9,413)**
– Change: **(1,210)**

## Total Equity

The report on total equity indicates:
– Current: **28,004,461**
– Previous: **30,290,118**
– Change: **3,893,380**

## Total Liabilities and Equity

The overall totals are reflected below:
– Total Current Liabilities and Equity: **158,756,933**
– Total Previous Liabilities and Equity: **180,638,414**

This concise report reflects the company’s key financial metrics and changes in equity, providing a snapshot for stakeholders and investors.# Futu Holdings Limited Reports Unaudited Financial Results

## Financial Overview for Recent Quarters

### Comprehensive Income Statement (In thousands)

**For the Three Months Ended:**

| Metric | March 31, 2024 | March 31, 2025 | US Dollars (approx.) |
|——————————————|—————-|—————-|———————|
| Revenues | | | |
| Brokerage Commission and Handling Income | 1,082,107 | 2,310,220 | 296,947 |
| Interest Income | 1,354,166 | 2,070,469 | 266,131 |
| Other Income | 156,186 | 313,948 | 40,354 |
| **Total Revenues** | **2,592,459** | | |

Futu Holdings Limited has released its unaudited financial results for the quarters ending March 31, 2024, and March 31, 2025. The company reported significant growth in brokerage commission and handling income, which rose from HK$1,082,107 to HK$2,310,220 year-on-year.

Interest income also saw a marked increase, growing from HK$1,354,166 to HK$2,070,469, signaling robust activity in the firm’s financial services.

Total revenues for the period reached HK$2,592,459, reflecting overall business expansion and increased trading activity.# Financial Summary Highlights Significant Costs and Gross Profits

**Key Metrics:**

– **Total Revenue:** 4,694,637
– **Net Income:** 603,432

**Cost Breakdown:**

– **Brokerage Commission and Handling Charges:**
– Current period: (60,301)
– Previous period: (143,505)
– Year-to-date: (18,446)

– **Interest Expenses:**
– Current period: (312,842)
– Previous period: (469,333)
– Year-to-date: (60,326)

– **Processing and Servicing Costs:**
– Current period: (97,103)
– Previous period: (136,115)
– Year-to-date: (17,496)

**Total Costs:**
– Current period: (470,246)
– Previous period: (748,953)
– Year-to-date: (96,268)

**Gross Profit:**

– **Total Gross Profit:**
– Current period: 2,122,213
– Previous period: 3,945,684
– Year-to-date: 507,164# Company Reports Significant Operating Expenses in Recent Quarter

## Breakdown of Operating Expenses

### Research and Development Costs
– Research and development expenses totaled **$335,487**.
– Last quarter, these expenses were **$385,979**, showing a decrease of **$49,612**.

### Selling and Marketing Costs
– Selling and marketing expenses reached **$292,664**.
– This is down from **$459,202** in the prior quarter, reflecting a reduction of **$59,024**.

### General and Administrative Expenses
– General and administrative expenses amounted to **$301,335**.
– Comparatively, the previous quarter saw costs of **$415,245**, indicating a decrease of **$53,374**.

### Total Operating Expenses
– Total operating expenses for the current period are **$929,486**.
– In comparison, last quarter’s total was **$1,260,426**, marking a significant reduction. This quarter’s expenses included:

– **Research and Development**: $335,487
– **Selling and Marketing**: $292,664
– **General and Administrative**: $301,335

## Income from Operations
– Income from operations is reported at **$1,192,727**.
– This is up from **$2,685,258** in the prior quarter.# Company Financial Summary: Key Metrics and Results

### Financial Overview

Net income for the current reporting period is **1,035,133**, indicating substantial profitability. In comparison, the prior period recorded a net income of **2,142,704**.

### Important Figures

– **Income Before Tax and Equity Loss**:
– Current: **1,224,468**
– Previous: **2,664,660**

– **Income Tax Expense**:
– Current: **(185,641)**
– Previous: **(490,959)**

– **Share of Loss from Equity Investments**:
– Current: **(3,694)**
– Previous: **(30,997)**

### Additional Financial Details

– **Others, net**:
– Current: **31,741**
– Previous: **(20,598)**

### Summary

Overall, the financial results reflect a decrease in net income and income before tax compared to the previous period, with significant expenses in taxes and equity investment losses.

Company Reports Strong Earnings Metrics for Current Period

		275,416
Attributable to:
Ordinary shareholders of the Company	1,038,138			2,145,323			275,753
Non-controlling interest	(3,005	)		(2,619	)		(337	)
	1,035,133			2,142,704			275,416

Net income per share attributable to ordinary shareholders of the Company
Basic	0.94			1.93			0.25
Diluted	0.93

# Company Releases Financial Performance Data for Latest Quarter

### Financial Summary

**Net Income per ADS**
– Basic: 7.53
– Diluted: 7.46

**Other Key Metrics**
– Basic Income: 1,102,929,775 shares
– Diluted Income: 1,114,429,420 shares

### Details

The company reported a basic net income per ADS of 7.53 and a diluted net income per ADS of 7.46. Basic income utilized a total of 1,102,929,775 shares, while diluted income reflected 1,114,429,420 shares.

### Additional Information

The financial data reflects ongoing trends in the company’s market performance, outlining both earnings capabilities and shareholder remuneration strategies. More detailed figures were expected in the complete fiscal report.

### Conclusion

These results indicate strong earnings potential and growth trajectories for shareholders and stakeholders. Further analysis and future reports will clarify ongoing financial strategies and market positioning.# Financial Summary Reveals Significant Income Changes

## Key Totals Reported

– The total comprehensive income for the period reached **1,005,692**.
– For the previous reporting period, it was **2,207,919**.
– Notably, **283,798** represents the income contributing to the current reporting period.

## Foreign Currency Adjustments

– The foreign currency translation adjustment reported a loss of **(29,441)**.
– This compares to a gain of **65,215** in the prior period.
– Additionally, there was an amount of **8,382** as a net adjustment for other comprehensive income.

## Attributable Income Distribution

### Ordinary Shareholders

– Ordinary shareholders reported income of **1,008,732** for this period.
– In the previous period, this figure was **2,210,552**.
– The attributable income for this sector is currently noted at **284,136**.

### Non-controlling Interests

– Non-controlling interests reported losses of **(3,040)**.
– This contrasts with losses of **(2,633)** last period.
– A further loss of **(338)** was noted in the current report.

## Conclusion

These financial metrics highlight notable shifts in income and losses attributable to both ordinary and non-controlling shareholders, with significant impacts from currency translation adjustments.# Futu Holdings Reports Strong Q1 Results for 2024

## Key Financial Highlights

Futu Holdings Limited has unveiled its unaudited financial results for the first quarter ending March 31, 2024.

### Financial Performance

– **Net Income**:
– For Q1 2024, net income stood at HK$1,035,133, a notable increase from HK$2,142,704 in Q1 2025.
– Converted to USD, net income was approximately US$275,416.

– **Share-Based Compensation**:
– Share-based compensation expenses added HK$85,938 for Q1 2024.
– This amount was HK$74,199 in Q1 2025, translating to US$9,537.

– **Adjusted Net Income**:
– Adjusted net income reached HK$1,121,071 for Q1 2024 and HK$2,216,903 in Q1 2025, which is about US$284,953.

### Summary

The reconciliation of non-GAAP and GAAP results shows that there were no income tax effects from the adjustments.

This detailed financial performance illustrates Futu Holdings’ growth trajectory, emphasizing its robust operational results in the first quarter of 2024.