Futu's Q4 international strategy continues to advance, with Hong Kong and Singapore market share gains again
Futui Controls (NASDAQ:FUTU)Publishes Unaudited Fourth Quarter and Full Year 2022 Financial Statements:
Futu's Q4 total revenue was HK$22.81 (approximately US$2.92), non-GAAP net profit was HK$10.15 (approximately US$1.3). In four quarters, Futu ranked No. 1 and No. 2 in the list of the 100 fastest growing companies in the financial industry in the United States in 2022.
For the full year 2022, Futu Control's total revenue grew 7% to HK$9.76 (approx. HK$76.14), non-GAAP net profit of US$4.01 (approx. HK$31.31), a year-on-year increase of 7.6%.
As of the end of 2022, Futubull and moomoo App had registered user numbers of 1958 million, a year-on-year growth of 12.7%; Total customers with assets were 148.7 million, a year-on-year growth of 19.5%. Q4 NET ASSET CUSTOMERS INCREASED BY 4.2 MILLION, AND END-END CLIENT ASSETS WERE US$535 (APPROXIMATELY HK$4175), AND INBOUND CLIENT DEPOSITS REMAINED AT THE HIGH LEVEL OF 98% TO THE LEFT.
In 2022, Futu continued to outperform the Hong Kong market, with Futu users accounting for 43% of Hong Kong's adult year on year. At the same time, the multi-dollar increase in the size of the Futu product has led to a further increase in the trading activity of Hong Kong investors in four quarters, 45 years and above, increasing the trading environment by 14%.
Futu's internationalisation process is subject to many challenges. In four quarters, moomoo exceeded 25% of the local 20-70 population in the US market in Singapore, moomoo was promoted through its online mainstreaming, the brand continued to develop in the Golden Shan Bay area, moomoo's product capacity in the Australian market was improved, and the calendar was functional on the domestic line; With its full online share trading capabilities, moomoo is hosting fast-casual shopping events in Sydney's city centre and core shopping district to further enhance brand awareness in the local community.
Futu's corporate services business continues to function in the real economy, ranking number one in 41 Hong Kong IPOs in 2022. According to the 2022 market capitalization statistics, more than eight (82%) companies with a market capitalization above HK$100 (82%) of the companies in Hong Kong IPO in 2022 have cooperated with Futu. By the end of the year, Futu's corporate services business contracted 638 ESOP customers, growing by 59% year-on-year. By Q4, more than 1500 investment institutions, financial media and listed companies had entered the Futu platform.
The wealth management business continued to grow at a high pace. Futui Financial's asset management practices grew by HK$315.8, year-on-year growth of 68%, public funds grew 61%, and other types of products including bonds grew by 183%. In addition, Futu will be the first to succeed in December 2022 as the joint venture capital of the project as specified in the project.
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