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Futu Announces Second Quarter 2020 Unaudited Financial Results

HONG KONG, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Futu Holdings Limited (a??Futua?? or the a??Companya??) (NASDAQ: FUTU),A a leading tech-driven online brokerage and wealth management platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2020.
Second Quarter 2020 Operational Highlights

Total number of paying clients1 increased 84.0% year-over-year to 303,102.



Total number of registered clients2 increased 55.4% year-over-year to 954,950.



Total number of users3 increased 52.1% year-over-year to 9.3 million.



Total client assets increased 108.4% year-over-year to HK$142.4 billion.



Daily average client assets were HK$118.8 billion in the second quarter of 2020, an increase of 81.7% from the same period in 2019.



Total trading volume increased 202.1% year-over-year to HK$643.9 billion, in which trading volume for US stocks was HK$429.3 billion, trading volume for Hong Kong stocks was HK$209.0 billion, and trading volume for stocks under the Stock Connect was HK$5.5 billion.



Daily average revenue trades (DARTs)4 increased 142.4% year-over-year to 263,335.



Margin financing and securities lending balance increased 82.9% year-over-year to HK$7.5 billion.

Second Quarter 2020 Financial Highlights

Total revenues increased 164.6% year-over-year to HK$687.6 million (US$88.7 million).



Total gross profit increased 172.2% year-over-year to HK$533.8 million (US$68.9 million).



Net income increased 327.7% year-over-year to HK$236.5 million (US$30.5 million).



Non-GAAP adjusted net income5 increased 310.1% year-over-year to HK$242.8 million (US$31.3 million).

Mr. Leaf Hua Li, Futua??s Chairman and Chief Executive Officer, said, a??We are pleased to announce that we continued to achieve exponential growth across our operating and financial metrics in the second quarter of 2020 following a very successful first quarter. We added 64,566 paying clients on a net basis in the second quarter, bringing our total number of paying clients to 303,102, up 84.0% year-over-year. The growth rate of our China mainland paying clients hit a record high since the fourth quarter of 2018, and the growth of Hong Kong paying clients further accelerated to 125.2% year-over-year.a??a??During our full year 2019 earnings call, we guided for 90,000 paying clients addition in 2020. Six months into 2020, we have already exceeded our full year growth target. We are now lifting our guidance to 280,000 net new paying clients this year, which translates to 141% year-over-year growth in our total number of paying clients.a??
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