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$Futu Holdings Ltd (FUTU.US)$Futu Holdings (NASDAQ: FUTU) announced unaudited financial results for the fourth quarter and full year of 2020:
Futu Q4 had total revenue of US$153 million (approximately HK$1.19 billion), up 282% year on year. It has achieved three-digit year-on-year growth for four consecutive quarters. Under non-GAAP, net profit of US$71.31 million (approximately HK$550 million) was achieved, a significant increase of 1021% over the previous year.
There was a net increase in the number of asset customers in Q4 by 99,000, of which Hong Kong and overseas customers accounted for more than half.
In the fourth quarter, Futu's US stock trading volume broke the 100 billion US dollar mark and reached 101.1 billion US dollars (about HK$783.6 billion), accounting for 65% of the total trading volume. The leading edge of the US stock business industry continued to expand. During the period, Futu obtained 4 new licenses and implemented its own licensing strategy in mainstream global financial markets.
Based on its license advantages, Futu actively promoted its internationalization strategy, officially entered the Singapore market in the first quarter of 2021, and deepened its layout in the US market.
As of Q4, the number of members of the “Futu Ten Million Dollar New Club” (subscription amount exceeding HK$10 billion) has reached 22, and Futu Comfort's position as the “preferred Internet brokerage firm for US and Hong Kong stock listings” has been further stabilized.
During the period, the asset management scale of Elephant Wealth surpassed the 10 billion mark, and the high-quality improvement in the scale of asset management helped Futu's business model be driven by transaction profits...
Futu Q4 had total revenue of US$153 million (approximately HK$1.19 billion), up 282% year on year. It has achieved three-digit year-on-year growth for four consecutive quarters. Under non-GAAP, net profit of US$71.31 million (approximately HK$550 million) was achieved, a significant increase of 1021% over the previous year.
There was a net increase in the number of asset customers in Q4 by 99,000, of which Hong Kong and overseas customers accounted for more than half.
In the fourth quarter, Futu's US stock trading volume broke the 100 billion US dollar mark and reached 101.1 billion US dollars (about HK$783.6 billion), accounting for 65% of the total trading volume. The leading edge of the US stock business industry continued to expand. During the period, Futu obtained 4 new licenses and implemented its own licensing strategy in mainstream global financial markets.
Based on its license advantages, Futu actively promoted its internationalization strategy, officially entered the Singapore market in the first quarter of 2021, and deepened its layout in the US market.
As of Q4, the number of members of the “Futu Ten Million Dollar New Club” (subscription amount exceeding HK$10 billion) has reached 22, and Futu Comfort's position as the “preferred Internet brokerage firm for US and Hong Kong stock listings” has been further stabilized.
During the period, the asset management scale of Elephant Wealth surpassed the 10 billion mark, and the high-quality improvement in the scale of asset management helped Futu's business model be driven by transaction profits...
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