JERSEY CITY, N.J., March 14,
2024 /CNW/ -- Moomoo's parent company Futu Holdings
Ltd. ("Futu" or "the Company"), a leading tech-driven online
brokerage and wealth management platform, announced its unaudited
Q4 2023 earnings with US$303.8
million in revenues, up 4.1% year-over-year ("YoY") and
US$121.7 million in non-GAAP adjusted
net income.
For the year ended December 31,
2023, the Company recorded US$1.281
billion in revenues and US$585.1
million in non-GAAP adjusted net income, representing a YoY
increase of 31.4% and 45.9%, respectively.
According to the earnings results, the Company's overseas
digital brokerage and investment brand moomoo, alongside with its
sister brands, had amassed 21.64 million global users and 1.71
million paying clients by the end of 2023, up 10.5% and 15.0%
respectively, compared to the previous year. During the full year
2023, the Company had acquired more than 220,000 new paying
clients, including over 59,000 newly added in the fourth
quarter, a growth of 41.0% compared to that of Q4 2022.
Meanwhile, the paying client retention rate remained strong at
98%, with the total client assets achieving US$62.164 billion, up 16.3% YoY.
The Company also mentioned that the net increases in paying
client acquisitions and AUM recorded for the first two months of
2024 have already exceeded those of the fourth quarter in 2023, due
to rallies in various equity markets.
In February 2024, Futu Malaysia
Sdn. Bhd. ("Moomoo MY") commenced its trading services, marking a
significant milestone as it is among the first global digital
brokerage firm to be granted the Capital Market Services License by
the Securities Commission Malaysia. Within a week of its launch,
Moomoo MY attracted over 30,000 new clients, marking another
notable achievement in the Company's globalization strategy across
Southeast Asia.
During the fourth quarter, Futu's affiliate companies achieved
new accomplishments as its business expanded into more markets with
more diverse product offerings to meet the multiple demands of
global investors. At this stage, Futu's overseas affiliate
companies provide stock trading and financial services in the US,
Australia, Singapore, Japan, Canada
and Malaysia.
Moomoo Singapore Achieves Profitability for First Time on a
Quarterly Basis, Shows Strong Growth in High-Net-Worth
Segment
In Singapore, moomoo continues
to lead the way for the retail industry, with several key
indicators ranking first among its peers. According to third-party
data provider Data.ai, moomoo has achieved the highest number of
accumulated downloads among stock trading apps in the Singapore market as of December 31, 2023, and recorded the highest
number of daily active users (DAUs) among stock trading apps in the
Singapore market from January 1 to December 31, 2023.
At the end of Q4, Moomoo Singapore (Moomoo SG) recorded profit
on a quarterly basis and recorded AUM growth of 115.8% on a YoY
basis. Notably, the average account balance of Singapore paying clients surpassed
S$17,000 at the end of 2023, with a
strong growth in the high-net-worth segment.
Moomoo SG was selected as the
winner of Best Retail Broker Award, a testament to its hard work in
delivering the best investment platform and investing experience
for Singapore clients, by the
Securities Investors Association (Singapore).
In addition, Moomoo SG was a sponsor for the SGX Cares Bull
Charge Charity Run, as well as a series of financial literacy
programs, as we seek to make a positive social impact on the
community that we operate in.
Moomoo Empowers Investors in US and AU with Various Product
Offerings and Investing Tools, Garnering Praises From Local
Markets
To help fulfill many investors' surging demand of option trading
in the US, moomoo announced its collaboration with CBOE Global
Markets (CBOE) to offer index options products to eligible US
moomoo brokerage customers. The collaboration represents a major
breakthrough in moomoo's mission to expand the options market's
accessibility for both current and potential customers.
Meanwhile, Moomoo US updated its Cash Sweep program in the US,
with a compelling annual percentage yield ("APY") for eligible
clients, expanding the toolkit to help boost the cash management
efficiency of their securities accounts.
In December, 2023 Global FinTech Awards, powered by the renowned
financial media Benzinga, granted moomoo the Best Day Trading
Software award, marking moomoo being named a Benzinga Fintech award
winner in various categories for three years in a row.
In Australia, the renowned
financial magazine Money awarded moomoo the prestigious title of
Best of the Best 2024 - Online Broker Rising Star. This tribute
recognizes moomoo as a cutting-edge trading platform, providing
Australian investors with access to global markets and an array of
innovative trading tools to enhance their trading and investment
experiences.
During the fourth quarter, moomoo introduced additional features
to enhance Australian investors' journey. The notable launching of
US stock Insider Activity and Candlestick Patterns empower
investors to swiftly analyze market data and make informed
decisions within moomoo's all-in-one platform. Furthermore,
moomoo's Charting Tools feature received a patent from IP
Australia, solidifying its commitment to cutting-edge
technology.
Starting from December 2023,
Moomoo AU introduced the Cash Plus wealth management solution to
Australian clients. This additional cash management tool equips
investors to navigate the high-interest rate environment prevailing
in Australia.
Brand Impact and Technology Advancements Enable Moomoo to
Rapidly Gain Tractions in Newly Launched Markets
Within six months of its entry into Malaysia, moomoo became the leading investment
and trading platform ranking number one in accumulated downloads.
(Based on Data.ai's comparison of stock trading apps on Apple and
Google app stores as of December 31,
2023). Additionally, in the fourth quarter, Moomoo MY hosted
a stock paper trading competition supported by Bursa Malaysia,
attracting almost 5,000 participants.
In the fourth quarter, the number of moomoo registered users in
Canada increased 258% QoQ. Based
on the Data.ai's comparison from October 1
to December 31, 2023, moomoo climbed to the second place of
Android stock trading app downloads ranking in the Canada market.
In the fourth quarter, Moomoo Japan introduced US stock trading
services to Japan, further
enriching the spectrum of investments for Japanese investors.
Thanks to moomoo's comprehensive and localised operation strategy,
moomoo app's daily active user (DAU) level
consistently shattered records in Japan, based on Data.ai's data between October 1 and December 31, 2023.
Furthermore, moomoo's Moo Learn investing courses and community
provide immersive learning experience to global moomoo users,
including non-English speaking countries and areas in Japan, Canada
and Malaysia. In Q4, the number of
Moo Learn users jumped 71.44% QoQ.
About moomoo
Moomoo is a leading global investment and trading platform
dedicated to empowering investors with user-friendly tools, data,
and insights. Our platform is designed to provide essential
information and technology, enabling users to make well-informed
investment decisions. With advanced charting tools, pro-level
analytical features, Moomoo evolves alongside our users, fostering
a dynamic community where investors can share, learn, and grow
together.
Founded in the US, Moomoo operates globally, serving investors
in countries such as the US, Singapore, Australia, Japan, Canada
and Malaysia. As a subsidiary of a
Nasdaq-listed company, we take pride in our role as a global
strategic partner of the New York Stock Exchange (NYSE), earning
numerous international accolades from renowned industry leaders
such as Best Trading Technology 2021, Best Investment Research Tech
2022, and Best Active Trading App 2021 awards from Benzinga and the
Best Trading Platform 2022 award from Fintech Breakthrough. Moomoo
has also received multiple awards in the US, Singapore, and Australia for its cutting edge, inclusive
approach to investing.
For more information, please visit moomoo's official website
at www.moomoo.com or feel free to email:
pr@moomoo.com.
About Futu
Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology
company transforming the investing experience by offering fully
digitalized financial services. Through its proprietary digital
platforms, Futubull and moomoo, the Company provides a full range
of investment services, including trade execution and clearing,
margin financing and securities lending, and wealth management. The
Company has embedded social media tools to create a network
centered around its users and provide connectivity to users,
investors, companies, analysts, media and key opinion leaders. The
Company also provides corporate services, including IPO
distribution, investor relations and ESOP solution services.
Disclosure
Options trading is risky and not appropriate for everyone. Read
the Options Disclosure Document (j.us.moomoo.com/00xBBz) before
trading. Supporting docs for any claims will be furnished upon
request.
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SOURCE moomoo
