Futu Holdings Limited Stock Price, News & Analysis

Futu Holdings Limited (Nasdaq: FUTU) addressed concerns raised by a Chinese media outlet regarding its ability to manage investors' personal data for cross-border trading under the new Personal Information Protection Law (PIPL) effective November 1, 2021. The company confirmed compliance with regulatory requirements and highlighted its commitment to data protection. Futu has completed necessary rectifications since 2019 and continues to monitor regulatory updates. It emphasizes cybersecurity measures and regular inspections to safeguard personal information.

Moomoo, a smart investing platform, has announced its sponsorship of the FinTwit 2021 Conference, taking place from October 8-10, 2021, in Orlando, Florida. Hosted by entrepreneur Jonah Lupton, the event will feature key opinion leaders from the investing community, offering networking and educational opportunities. Attendees will engage in discussions on various investing strategies and trends. Moomoo aims to enhance the investing experience with its innovative tools and has previously partnered with Benzinga for media support. For tickets, visit fintwit2021.com.

Futu Holdings Limited (Nasdaq: FUTU) announced the resignation of Mr. Eric Chi Zhang from its board of directors, effective September 14, 2021, due to personal reasons. His departure does not stem from disagreements with the company. Chairman and CEO Leaf Hua Li expressed gratitude for Mr. Zhang's contributions. Futu is a tech-driven online brokerage and wealth management platform, serving the emerging affluent with services like trade execution and margin financing through its apps, Futubull and moomoo.

Futu Holdings Limited (Nasdaq: FUTU) reported impressive Q2 financial results for the period ending June 30, 2021. Total revenues soared by 129.3% YoY to $203.1 million, marking six consecutive quarters of triple-digit growth. Non-GAAP adjusted net income rose 126.7% YoY to $70.9 million. User growth was significant, with 15.5 million total users and a 230.2% increase in paying clients to 1 million. Additionally, Futu secured an S&P investment grade credit rating of BBB- and was added to the MSCI Hong Kong Index.

Futu Holdings Limited (Nasdaq: FUTU) reported robust operational and financial growth for Q2 2021. Total revenues reached HK$1,576.9 million, up 129.3% year-over-year, while net income rose 125.8% to HK$533.9 million. The number of paying clients surged 230.2% to 1,000,795, and client assets increased by 253.5% to HK$503.2 billion. Key growth drivers included a significant rise in trading volume, particularly in US stocks, and enhancements in wealth management offerings. The company aims to leverage its market position in Hong Kong and expand in Singapore.

Futu Holdings Limited (NASDAQ: FUTU) announced it will report its Q2 2021 financial results before U.S. markets open on August 31, 2021. The company will hold an earnings conference call the same day at 7:30 AM U.S. Eastern Time. Participants need to pre-register for the call and will receive confirmation emails with access details. Following the call, a replay will be available until September 8, 2021. Futu is transforming the investment experience through its digitized brokerage platform, serving the emerging affluent population in wealth management.

Futu Holdings Limited (Nasdaq: FUTU) has received a 'BBB' investment grade long-term issuer credit rating from S&P Global Ratings, marking it as the first online brokerage in APAC to achieve this rating. The stable outlook reflects S&P's expectations of Futu's continued competitive position in the online brokerage sector and robust capital adequacy. Since launching in Singapore on March 8, 2021, Futu has gained over 220,000 registered users, with more than 100,000 paying clients in under three months. This recognition strengthens Futu's capacity to lower financing costs in international markets.

Futu Holdings Limited (Nasdaq: FUTU) has received a long-term issuer credit rating of "BBB-" from S&P Global Ratings, with a stable outlook, marking the first standalone investment grade rating for a Hong Kong-based broker. This rating reflects Futu's strong market position in Hong Kong's brokerage market, solid capitalization, and effective risk controls. S&P expects Futu to maintain capital adequacy for growth and highlights its potential to expand into overseas markets, supported by synergies with Tencent, its second-largest shareholder.