Futu Q4 and 2023 Annual Financial Report: Accelerating Overseas Business Expansion and Entering a New Phase of Internationalization

In the fourth quarter, Futu's total revenue amounted to HK$23.73 (about US$3.04), an increase of 4.1% year-on-year. Non-GAAP net profit was HK$9.51 (US$1.22) under non-GAAP. For the full year 2023, Futu Holdings Ltd's total revenue reached HK$100.08 (approximately US$12.81), an increase of 31.4% year-on-year, and a year-on-year increase of 45.9% on a non-GAAP basis (non-GAAP net profit of HK$45.7).

By 2023, Futubull and moomoo applications registered 2,164 million users, up 10.5% year-on-year; Futubull customers grew to 356 million, year-on-year growth of 10.2%; Total registered customers expanded to 171 million, year-on-year growth of 15%, and net asset customers in the fourth quarter 5.9 million, increasing net asset customers by more than 22 million over the year. In the fourth quarter, total assets of clients amounted to HK$4,856 (approximately US$621.6), up 16.3% year-on-year, and clients with assets maintained a high retention rate of more than 98% in the current period.

In the fourth quarter, Futu's position in Hong Kong retailers was stable, and many industries were affected, particularly by the high quality of local customers. Futu Securities is the most popular tech trader in Hong Kong, and has been ranked first in the number of downloads of Hong Kong's stock exchange app for three consecutive years.

In 2023, Futu accelerates the expansion of its overseas business and enters a new phase of internationalization. Last year, Futu's overseas brand, moomoo, became popular with local users after its successful expansion in the Canadian and Japanese markets. In Southeast Asia, moomoo has further established itself as an industry leader in Singapore and boosted its business to the surrounding countries, and the Singapore branch made strong break-even gains for the first time in the fourth quarter. In February 2024, moomoo successfully expanded into the Malaysian market, offering US equity trading, gaining 3 million registered customers online a week, and creating new business growth points.

In the fourth quarter, the wealth management business continued to grow at a high pace. Futu's wealth management model has been hit by HK$575, year-on-year growth of 82.3%, other public funds grew by 66.7% year-on-year, and other products (including bonds) grew by 245.3% year-on-year.

During the month, Futu's corporate services business continued to function as a real economy. In 2023, Futu participated in the tender offer of 37 Hong Kong shareholders, making it the number one shareholder in the joint venture. Futui provides IPO and investor relations services to 414 companies, with year-on-year growth of 24.3%.