Futu Holdings Limited Q4 Financial Results: 2021 Revenues Up 114.9% YoY With 17 Million Users Worldwide


Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform that provides investment services through its proprietary digital platforms Futubull and moomoo, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2021.

The financial results show that Futu secured a solid performance in the fourth quarter, with a revenue of US$205.5 million and a Non-GAAP adjusted net income of US$68.4 million.

Revenues continued to grow, with brokerage commission and handling charge income up 19.3% to US$109.9 million, interest income up 83.3% to US$79.2 million, and other income (including wealth management and corporate services) slightly down 2.2% to US$16.4 million on a year-over-year basis.

As of year end, Futu revenues totaled US$912.3 million, up 114.9% year-over-year, and Non-GAAP adjusted net income was US$373.0 million, up 113.3% year-over-year.

As of quarter end, users of Futu’s two proprietary digital platforms, moomoo and Futubull, exceeded 17.40 million, up 45.8% year-over-year. They cover more than 200 countries and regions worldwide; the number of registered clients grew to 2.75 million, up 93.8% year-over-year; the number of paying clients reached 1.24 million, up 140.8% year-over-year. The company also maintained a high quarterly client retention rate of 97%.

What is noteworthy is that Futu exceeded its full-year paying client guidance by adding approximately 728,000 paying clients in 2021. In the fourth quarter, around 90% of new paying clients came from Hong Kong SAR, the US and Singapore. Quarter-end client assets reached US$52.3 billion, up 43.0% year-over-year.

In addition, Futu’s total trading volume was US$157.2 billion in the fourth quarter and US$787 billion for the full year, approximately 1.77 times the 2020 volume. Daily Average Revenue Trades (“DARTs”) reached 543,806, up 17.6% year-over-year.

HK Paying Clients Increased by Over 100% YoY for 7 Consecutive Quarters

Having established itself in Hong Kong, Futu is a tech-driven digital fintech company that delivers unparalleled investing services through its proprietary digital platforms, Futubull and moomoo to investors worldwide.

In Hong Kong, Futu continued to reinforce its position as the leading retail brokerage with a robust increase in market share recent years. In the fourth quarter, the number of paying clients in Hong Kong grew by 108.7% year-over-year, achieving triple-digit growth for the seventh consecutive quarter. Futu is not only popular among young investors, but also gradually gains traction among mature investors, making it the top-of-mind platform trusted by investors of all ages in Hong Kong. Among paying clients in Hong Kong, those aged 40 or above accounted for more than 30%.

Futubull Community stays the second-largest social investing community in Hong Kong in terms of active users and UGC content, leading the social investment trend. Based on trading day data in 2021, an average Hong Kong user spent as long as 38.4 minutes on the Futubull app. On an average trading day, there were 368,000 active Hong Kong users in the online Community, and 120,000 pieces of UGC content were produced.

moomoo Gained Market Share Steadily in the US and Singapore

In the fourth quarter, moomoo further increased its visibility in markets such as the US and Singapore, and won wide recognition among investors with its unique user experience and excellent customer service.

In the US, moomoo has become a popular tech-driven brokerage platform for local investors, with the number of users soaring and its local market share gradually expanding. In the fourth quarter, moomoo won the “2021 Best Active Trading App” award by Investing Simple, and was also named the “2021 Best for Active Traders” by Benzinga, a well-known US financial website.

In Singapore, moomoo’s market share grew to record high. According to Population Pyramid’s Population of Singapore 2021 data, the number of moomoo users in Singapore as of the fourth quarter has accounted for 1/10 of Singapore’s adult population over the age of 20. moomoo further penetrated among high-income and well-educated people in Singapore, and the asset management scale under Futu in Singapore increased by 25.7% quarter-over-quarter.

moomoo has been committed to helping investors enrich their investment knowledge since its inception. As of the fourth quarter, more than 300 investing videos and infographic courses have been launched on the moomoo App and website, covering stocks, options, funds, and other financial instruments in catering diversified learning objectives.

At present, moomoo has become the pioneer in promoting financial literacy in Singapore, and has established cooperation with more than 30 local financial institutions, unicorn companies, and universities to jointly enhance public awareness of gaining financial and investing knowledge. In the fourth quarter, moomoo joined hands with the Singapore Exchange, SAFRA, Nasdaq, etc., to hold online seminars in encouraging new generation to pick up financial management knowledge and skills.

In the United States, moomoo also cooperated with the financial website Finder.com to roll out stock trading tutorial videos and articles to preparing beginners to advanced level, which has won wide praise from American users.

With Australian Financial Services Licence Acquired, Futu Now Holds 44 Licences Worldwide

In the fourth quarter, Futu announced that it had successfully acquired an Australian-based company, Futu Securities (Australia) Ltd. Futu Securities (Australia) Ltd holds an Australian Financial Services License (“AFSL”). The AFSL is a license granted and regulated by the Australian Securities and Investments Commission (ASIC) and with AFSL, Futu Securities (Australia) Ltd is now qualified to provide one-stop online brokerage services to local investors. Australia is the third international market that moomoo enters after the US and Singapore.

As of quarter end, Futu and its subsidiaries hold 44 licenses in the US, Hong Kong SAR, SingaporeAustralia, and Europe markets.

Fund investors Increased by 231% Year-over-Year

In the fourth quarter, Futu’s another promising business, wealth management, maintained a rapid growth trend and the asset under management reached HK$18.8 billion (approximately US$2.41 billion), a year-over-year increase of 83.5%. The penetration rate of investors who currently hold fund units and investors who have subscribed to funds both achieved new records. As of quarter-end, the number of investors who hold fund units was 140,000, a year-over-year increase of 231.0%.

In the fourth quarter, AUM of private investment funds in Q4 continued to expand by 621.0% year-over-year and by 120.3% on a quarter-over-quarter basis.

Since its launch, Futu’s wealth management brand Money Plus has always adhered to highly quantitative fund selection methodology, continued to establish and strengthen cooperation with world-renowned financial institutions, and provided diverse and high-quality fund products for global clients. As of quarter end, 60 prestigious financial institutions have partnered with Futu Money Plus, of which 4 were newly onboared in the fourth quarter, including Fidelity International, AXA Investment Managers, and Natixis Investment Managers.

In the Singapore market, Futu has won the favor of numerous investors with a series of selected fund products and customized services. As of quarter end, Futu Singapore Pte. Ltd. (“Futu Singapor”) has entered partnerships with 20 world-class financial institutions, and fund AUM and the number of fund investors have increased by more than 400% quarter-over-quarter.

IPO Distributions and IR Service Corporate Clients Up 125% Year-over-Year

As a well-versed industry player in providing enterprise services such as IPO distribution, IR and PR services, and one-stop ESOP equity incentive programs through its corporate business brand Futu I&E, Futu has become the go-to choice for numerous companies worth over HK$100 billion.

As of quarter end, Futu had provided IPO distribution and IR services for 236 companies, a year-over-year increase of 124.8%. In the fourth quarter, Futu participated in a number of sought-after Hong Kong IPOs such as SenseTime, SF Intra-City, ANE Inc., and MicroPort MedBot. Among the newly listed companies in Hong Kong in 2021, all of which with a market cap of over HK$100 billion chose to cooperate with Futu I&E. Futu I&E IPO and IR service execution excellence was recognized by more and more industry leaders, with its brand and reputation further sustained.

Also, Futu’s IPO distribution business in Singapore made new progress. Futu Singapore was entrusted by Nikko Asset Management and served as one of its participating dealers for the listing of NikkoAM- StraitsTrading MSCI China Electric Vehicles And Future Mobility ETF on the Singapore Exchange. The ETF subscription amount via Futu Singapore ranked the first among retail brokers.

As of quarter end, Futu Enterprise Services had served 400 ESOP clients, a year-over-year increase of 151.6%. Clients include industry leaders in consumption, healthcare, cutting-edge technologies, TMT, and other sectors, such as HEYTEA, Zihaiguo, AInnovation, Advanced Manufacturing EDA and HuiGene Therapeutics.

Drawing upon more than 17 million individual investors and an active community ecology, Futu has successfully attracted over 800 companies to open an enterprise page. Among them, well-known public companies such as Hang Lung Properties, MicroPort Medbot, Xinyi Solar Holdings, China Feihe joined in the fourth quarter. Through the moomoo and Futubull communities, Futu has built a bridge of communications between listed companies and individual investors, promoting mutual understanding and positive interactions between the two sides.


Futu Accelerates International Expansion as the Company Announces Third Quarter 2021 Unaudited Financial Results


Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading, tech-driven online brokerage and wealth management platform focusing on global investors, has announced its unaudited financial results for the third quarter ended September 30, 2021.

In the third quarter, Futu recorded solid growth in total revenues with an 83.0% year-over-year increase to US$222.4 million. Non-GAAP adjusted net income increased 58.5% year-over-year to US$83.0 million.

Three businesses sustained strong growth momentum in the third quarter. Brokerage commission and handling charge income increased by 65.8% to US$119.9 million; interest income increased by 128.5% to US$81.1 million and other income increased by 55.6% to US$21.3 million.

As of quarte end, the number of Futu users worldwide reached 16.6 million, an increase of 58.6% year-over-year; the number of Futu registered clients reached 2.58 million, an increase of 119.9% year-over-year; the number of Futu’s paying clients reached 1.17 million, an increase of 179.2% year-over-year. Client stickiness remained strong and the quarterly client retention rate was as high as 97%.

It is worth noting that Futu’s quarterly net paying client increase was 166,000, a year-over-year increase of 44.7%. In the first three quarters, more than 70% of the net increase in paying clients are from Hong Kong SAR, Singapore, and other international markets. As of quarter end, client assets totaled US$54.45 billion, a year-over-year increase of 111.0%.

In addition, Futu’s quarterly total trading volume reached US$173.5 billion, a year-over-year increase of 33.1%. Client daily average revenue trades (DARTs) reached 576,810, a year-over-year increase of 52.2%.

Hong Kong industry leader status reinforced with Futu users accounting for about one third of Hong Kong adult population

In the third quarter, Futu continued its solid growth across high-growth markets. Rooted in Hong Kong, Futu utilizes technologies to promote the development of Hong Kong’s financial services. Futu further reinforced its status as a leader in the Hong Kong brokerage industry, highlighted by a 162% increase in Hong Kong paying clients – the sixth consecutive quarter to realize triple-digit percentage growth year-over-year.

Futu’s market penetration rate in Hong Kong has been rising steadily. According to the latest population statistics from the Census and Statistics Department, Futu’s number of users now account for about one third of Hong Kong’s adult population and continues to reinforce its status as an industry leader. Per the open data, Futu’s monthly market share in Hong Kong stock trading has exceeded the lower limit of the market share range of Category A SEHK Participants since July 2020. Therefore, it can be reasonably deducted that Futu has entered the ranks of Category A SEHK Participants, becoming the first retail brokerage firm to have achieved the standing.

As measured by the number of Hong Kong active users and the UGC content generated, the Futubull Community has become the second largest online forum in Hong Kong, leading the trend of “social investing” in Hong Kong. Based on quarterly trading day data, an average Hong Kong user spent as long as 33 minutes on the Futubull App. On an average trading day in the quarter, over 350,000 Hong Kong users were active in the online Community and generated nearly 100,000 pieces of UGC content.

Internationalization accelerates with Singapore market AUM up over 50% QoQ

Futu’s global expansion further expedited in the third quarter. In Singapore, Futu officially launched fund products in the quarter and continued to expand the categories of trading products to meet the diversified investment needs of Singapore clients. Meanwhile, Futu is dedicated to investor education in Singapore and has invested substantial resources. During the quarter, 249 new videos and infographics were produced, covering 40 courses and topics; in collaboration with the Singapore Exchange (SGX) and other major financial institutions, Futu jointly held seminars and featured events such as the Paper Trading Competition to further promote its industry standing.

In-depth investing education services and the ultimate online product experience have attracted numerous quality Singapore clients for Futu. In the quarter, the scale of Singapore client assets increased by 52.4% compared with the last quarter. moomoo has become one of the fastest growing one-stop investment platforms in Singapore, continuously ranking among the top three financial apps as measured by download volume.

In the United States, Futu insisted on fully localized operations and realized a high quarter-on-quarter growth in the number of US users. During the quarter, moomoo and Benzinga, a well-known US financial website, jointly organized moomoo’s first Paper Trading Competition in the U.S.. In addition, moomoo was invited to attend the FinTwit Conference, an established FinTech event in the US, to share moomoo’s product features and stories with investors, which further enhanced moomoo’s reputation and influence.

Futu corporate services now trusted by over 450 well-known companies

Futu has long provided companies with corporate services—such as IPO underwriting, IR and PR management, ESOP solutions, and trust services—establishing the company as the preferred service provider for large-cap companies.

As of quarter end, Futu has provided IPO underwriting and IR services to 215 companies. Futu achieved another remarkable quarter in IPO business in the Hong Kong market. Of companies listed in Hong Kong in the first three quarters, all companies with a market value of over HK$100 billion and 80% of those worth over HK$5 billion chose Futu’s corporate services. In the quarter, a number of companies partnered with Futu on their IPO journeys in Hong Kong, such as Li Auto, XPeng Motors, Zylox-Tonbridge Medical, and Brii Biosciences. Futu’s “Ten Billion IPO Club” now has 30 member companies (that is, companies whose IPO subscription amount by Futu clients exceeded HK$10 billion).

In the quarter, Futu officially launched an integrated, digitalized Investor Relations/Public Relations platform customized for listed companies. Ushering in a new era of corporate communications and investor relations management, the one-stop platform enhances the efficiency and paradigm of market tracking, investor profiling, and quantified communications. As of quarter end, over 700 companies had established a presence in Futubull Community and over 100 Hong Kong listed companies worth over HK$10 billion have opened a Futu Page. Abundant well-known listed companies joined in the quarter, such as POP MART, BYD Co. Ltd., JD Health, and Anta Sports.

In addition, Futu has registered a licensed trust or company service provider (license number: TC006475) under the Hong Kong Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) and registered a trust company under the Hong Kong Trustee Ordinance (Cap. 29). The Futu trust team brings together senior experts across bank trust departments, multinational trust service providers, family offices, and possesses extensive experience in ESOP equity incentive trust and family trust services.

As of quarter end, Futu has secured over 300 ESOP clients, a year-over-year increase of over three digits. Clients include leading companies in consumer goods, healthcare, cutting-edge technology, and TMT industries such as HEYTEA, Akesobio, BOE Varitronix, Ximalaya, and Tencent Music. By providing enterprises with full-process services from plan design, trust taxation services, data management, and option vesting, Futu ESOP has become a preferred one-stop ESOP equity incentive service provider for leading companies across industries.

Futu Money Plus achieved record AUM with a 132% YoY increase

As of quarter end, the company’s wealth management business Futu Money Plus’ AUM reached HK$17.7 billion, a year-over-year increase of 132.4% and a quarter-on-quarter increase of 28.5%. This also broke a record in terms of the net AUM increase during a single quarter. The penetration rates of fund investors among Futu’s paying clients attained new highs. By the end of their third quarter, the number of fund investors exceeded 115,000, a year-over-year increase of 287%. Futu added a net 40,000 new fund investors in the quarter.

Distribution of private investment funds also achieved notable growth and their AUM rose 135.0% compared with the previous quarter and grew 7 times from a year ago; PI (professional investor) investors increased by 109% compared with the previous quarter and 30 times on a year-over-year basis.

As of the third quarter, Futu Money Plus had partnered with 56 world-renowned financial institutions, among which 6 were introduced last quarter, including Schroders Investment Management, the Carlyle Group and Fenghe Fund Management. In the quarter, Futu initiated another in-depth collaboration with the leading asset manager Fullgoal Hong Kong to launch and distribute the Fullgoal China Equity Fund.

To further enhance the investment experience for its partners and users, Futu transformed the infrastructure of alternative products in the quarter by adding features such as streamlined capital calls, which have laid a solid foundation for more innovations in the future. Meanwhile, Futu optimized the trading system for trading and execution of bonds, increasing the fill rate for bond trading.

Since its launch, Futu Money Plus has always insisted on strict selection criteria to provide clients with a series of quality products. Meanwhile, Futu has also integrated the big data algorithm with the industry-leading operational capabilities to continuously improve our online investment services. By fully assessing client needs and risk preferences, Futu offers them personalized premium services so that they can invest their wealth with ease and convenience. Through these efforts, Futu manages to gain increasing trust and confidence from high-net-worth clients. The number of fund investors and AUM of our wealth management business are both rising steadily.

Futu has also been proactively expanding its wealth management business in Hong Kong SAR and international markets. In the third quarter, Futu officially launched its mutual fund business in Singapore, providing clients with 40 mutual fund products, and counting, from reputable institutions such as BlackRock, Allianz, and Goldman Sachs. With more products made available and better localized operations, Futu Money Plus will make more progress in many more international markets.


Futu reaches 15 million global users, reflecting strong international expansion


Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading, tech-driven online brokerage and wealth management platform, has announced its unaudited financial results for the second quarter ending June 30, 2021 (“Q2”).

In Q2, Futu reached several key milestones. The total number of Futu’s paying clients increased to one million, including 100,000 paying clients that came from Singapore. Another major milestone was that the Company’s stock was added to the MSCI Hong Kong Index. In the same quarter, the Company obtained an investment grade long-term issuer credit rating “BBB-” from S&P Global Ratings, becoming the first online broker in the Asia-Pacific region to have obtained this international rating.

Futu’s corporate services experienced strong growth this quarter. Futu I&E’s IPO and IR clients climbed to 186, with its ESOP solution clients reaching 263 as of June 30, 2021. During the first half of 2021, Futu participated in the underwriting or distribution of all Chinese ADR’s secondary listings in Hong Kong, as well as numerous HK$100-billion Hong Kong IPOs, namely Kuaishou Technology, Baidu Inc., Bilibili Inc. and JD Logistics, Inc.

This quarter, Futu’s wealth management business Money Plus partnered with 50 world-renowned asset managers, establishing seven new partnerships in Q2. Total client asset balance under Money Plus was approximately HK$13.8 billion ($1.77 billion USD), up 59.2% YoY as of June 30, 2021.

[1] Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses.

Paying clients reached one million, with 80% of newly acquired clients originating from Hong Kong and other overseas markets

In Q2, Futu’s momentum in revenue growth remained strong with a 129.3% year-over-year increase to $203.1 million, reflecting triple-digit growth for six consecutive quarters. Non-GAAP adjusted net income also saw 126.7% YoY growth, reaching $70.9 million.

Brokerage commission and handling charge income increased by 94.8% YoY to $102.7 million; interest income reached $78.6 million, representing an increase of 193.6%; and other income (including wealth management, enterprise services, etc.) increased by 140.5% YoY to $21.7 million.

As of Q2, Futu reached 15.5 million global users, representing a 66.8% increase YoY; the number of registered clients increased by 142.5% YoY to 2.32 million; and the number of paying clients increased by 230.2% YoY, reaching one million. Futu’s client retention rate remained strong at 98% during the first half of 2021.

It is worth noting that net paying clients tripled YoY to approximately 211,000 (Q2 2020: 65,000). With international expansion continuing to accelerate this past quarter, about 80% percent of newly acquired paying clients resulted from the exponential growth Futu has realized in Hong KongSingapore and other overseas markets. As of quarter end, total client assets hit a new high of $64.8 billion (approximately HK$503.2 billion), representing a 253.5% increase YoY. Average client asset balance climbed to about $64,700 (approximately HK$500,000).

The brokerage business maintained steady growth, with total trading volume increasing 104.3% to $169.4 billion. Daily average revenue trades (DARTs) increased by 105.4% YoY to 540,988.

International expansion continued to accelerate, with the number of paying clients in Singapore soaring to 100,000

In Q2, Futu maintained market leadership in Hong Kong, and international expansion continued to accelerate.

In Hong Kong, Futu reinforced its leading position with its diverse investment products, convenient online account opening services, seamless investment experience and trusted reputation among investors of all ages. The number of paying clients in Hong Kong surged by 270% YoY, reflecting three-digit YoY growth for several consecutive quarters. During Hong Kong’s latest round of iBond subscription, Futu received massive support from the market, sharing 12% of total valid applications and 7.5% of the total subscription amount of bonds.

In the US, Futu successfully launched its customized “moomoo Ambassadors” campaign this quarter, as well as other omni-channel marketing strategies. In May, moomoo secured the title sponsorship for Yahoo Finance’s exclusive livestream of the 2021 Berkshire Hathaway Shareholders Meeting. moomoo has gained recognition in the US market for providing a platform where users can join live conversations with industry experts.

Since launching the moomoo app in Singapore in March, Futu has invested in product and service enhancements, including rolling out a local customer support hotline that allows users to stay connected with the market 24 hours a day on trading days and 12 hours per day on non-trading days. To better serve its growing client base, Futu continued to hire local talent to assist in carrying out its global expansion strategy.

Now moomoo is already considered one of the fastest-growing online trading platforms in Singapore and will continue to focus on raising brand awareness among local retail investors and growing its user and client base. In the three months since launching moomoo in Singapore, Futu has amassed over 220,000 users and 100,000 paying clients. Now moomoo has gained tremendous popularity among the local community in Singapore, consistently dominating the top three finance apps in both the App Store and Google Play.

“As an international, tech-driven online brokerage, Futu puts the user experience and needs of its clients first. We are dedicated to driving innovation and providing more user-friendly and state-of-the-art FinTech services to investors. We feel immensely proud of the strong growth we’ve achieved in Singapore and are thankful for all the support we have received from their investing community. Singapore is a key focus of our international expansion strategy, and we are humbled to see that moomoo has attracted such a large customer base in such a short period of time. We are proud of the market traction we’ve gained globally, thanks to our industry-leading products and services,” said Mr. Leaf Hua Li, Futu’s Founder, Chairman, CEO & Chairman of the Technology Committee.

He adds, “Looking ahead, we are devoted to catering to the evolving needs of the Singapore market and look forward to deepening our relationship with local industry partners, while promoting financial literacy and driving innovation within the FinTech industry.”

Supported new enterprises in their IPO or secondary listing journeys, serving nearly 450 corporate clients to date

Our enterprise business, Futu I&E, continued to support corporate clients by connecting companies to investors throughout their entire IPO journey—from IPO distribution to IR & PR services, ESOP services, and building brand trust.

As of quarter end, Futu has provided IPO distribution and IR services to 186 companies, reflecting its competitive strengths in IPO distribution and capturing the upsurge of the IPO frenzy in Hong Kong. Futu I&E participated in the underwriting or distribution of all HK$100-billion IPO listings and Chinese ADRs secondary listings in Hong Kong. As of this quarter, there are 26 companies on Futu’s HK$10B+ ($1.28B+ USD) Subscriptions IPO Roster, including JD Logistics Inc., Angelalign Technology Inc., Nayuki Holdings Ltd. and CARsgen Therapeutics Holdings Ltd.

Futu’s collaborative and engaged community rose to the forefront in Q2, with 600 companies joining the Futu Page, Futu’s enterprise accounts for listed companies, including Haidilao International Holdings Ltd., Sunac China Holdings Ltd., Angelalign Technology Inc., China Unicom (HK) Ltd., and China Gas Holdings Ltd.

“Futu is committed to deepening its presence in the Hong Kong market and has demonstrated its strengths in IPO distribution and IR services. Our mission is to better serve promising Chinese enterprises seeking an IPO or secondary listing in Hong Kong, made possible through our unparalleled solutions and services, which range from IPO subscription, setting up their Futu Page accounts, running virtual roadshows and facilitating briefing sessions. Futu is well-positioned to connect listed companies with high-quality retail investors and facilitate meaningful exchanges about corporate values and business prospects. As more companies look to gain a foothold in the Hong Kong market, working with us will allow those enterprises to step into the spotlight, which will further amplify the value and advantages of the Hong Kong stock market,” said Mr. Li.

As of quarter end, Futu I&E has provided ESOP solutions to 263 corporate clients from various sectors, namely healthcare, consumer retail and leading technology. Futu also added market leaders, such as Yidu Tech Inc., Simcere Pharmaceutical Group Ltd., Pop Mart International Group Ltd., and Nayuki Holdings Ltd. to its client roster. By providing one-stop ESOP services that support companies with scheme design, trust building, vesting and exercising, and foreign exchange registration, Futu I&E has become the preferred ESOP solutions provider in the market.

Wealth management business experienced surge in growth from teaming up with 50 reputable financial institutions

Thanks to the diverse product offering of Futu’s Money Plus—including transparent fund reports, an unparalleled investing experience and zero subscription fees—Futu’s wealth management business has continued to earn clients’ trust. As a result, Futu experienced significant growth, becoming a popular wealth management platform across Hong Kong and other markets. As of quarter end, total client asset balance under Money Plus grew to $1.77 billion, up 59.2% YoY.

In Q2, Futu Money Plus teamed up with 50 reputable financial industry partners and established new partnerships with seven asset managers, including Goldman Sachs Asset Management, Eastspring Investments, UBS Asset Management, Principal Global Investors, Matthews Asia, Columbia Threadneedle Investments and Man Investments.

Additionally, Futu became the sole distributor for the sale and distribution of an exclusive fund last quarter—the ChinaAMC Select Greater China Technology Fund—for those seeking investment in China-related technology companies. Following the exclusive sale of the Hong Kong dollar share of Fullgoal China Small and Medium-Cap Growth Fund, Futu once again obtained the exclusive right to sell products from well-known fund companies, confirming Futu Money Plus’s platform strength and market recognition.

Futu partnered with 11 fund companies to conduct a live roadshow this past quarter, which generated over 2.4 million views. Money Plus also successfully held its first Investment Strategies Webinar, which brought together a group of investing and research experts from several world-renowned asset management institutions, including BlackRock, China Asset Management, Baring, and Harvest, to share investment news, strategies, and perspectives to more than 20,000 viewers.

Futu Money Plus also upgraded its services to further enhance the fund investment experience. Most notably, Futu developed an auto-redemption feature for money market funds, which can be directly used for IPO subscription, trading stocks and funds, paying financing interests and currency exchanges and more seamlessly transitioning idle cash between investing and trading.