Futu Holdings Limited (“Futu” or the “Company”) (NASDAQ:
FUTU), a leading tech-driven online brokerage platform in
China, today announced its unaudited financial results for the
third quarter ended September 30, 2019.
Third Quarter 2019 Operational Highlights
- Total number of registered
clients1 increased 42.8% year-over-year to 653,019
- Total number of paying
clients2 increased 41.6% year-over-year to 176,762
- Total number of
users3 increased 29.2% year-over-year to 6.9 million
- Total client
assets increased 33.3% year-over-year to HK$72.3
billion
- Total trading
volume increased 5.5% year-over-year to HK$210.9
billion
- Daily average revenue
trades (DARTs)4 increased 8.6% year-over-year to
101,597
- Margin financing and
securities lending balance increased 17.2% year-over-year
to HK$4.6 billion
Third Quarter 2019 Financial Highlights
- Total revenues
increased 12.8% year-over-year to HK$254.3 million (US$32.4
million)
- Total gross profit
increased 20.7% year-over-year to HK$184.5 million (US$23.5
million)
- Net income
decreased 31.0% year-over-year to HK$20.9 million (US$2.7
million)
- Non-GAAP adjusted net
income5 decreased 27.4% year-over-year to HK$23.8 million
(US$3.0 million)
____________1 The number of registered clients
refers to the number of users who open one or more trading accounts
on Futu’s platform.2 The number of paying clients refers to the
number of the clients with assets in their trading accounts on
Futu’s platform.3 The number of users refers to the number of user
accounts registered with our Futu NiuNiu applications or websites.4
The number of Daily Average Revenue Trades (DARTs) refers to the
number of average trades per day that generate commissions or
fees.5 Non-GAAP adjusted net income is defined as net income
excluding share-based compensation expenses.
“Despite the ongoing situation in Hong Kong and
the weak equities market, we were pleased with our performance
during a challenging third quarter,” said Mr. Leaf Hua Li, Futu’s
Chairman and Chief Executive Officer. “The total number of paying
clients jumped almost 41.6% year-over-year. In particular, even
though we decided to scale back our marketing efforts in Hong Kong
given the difficult social situation, we were able to almost double
the number of paying clients in the city while maintaining double
digit growth in net new client additions on a year-over-year basis.
This speaks to the unique value proposition of our platform and the
high potential of this market.”
“While Hong Kong stocks, which cover about half
of our client trading, turned in the worst performance among the
major stock markets around the world in the third quarter, our
total client assets actually rose to a record HK$72.3 billion, an
increase of 33.3% year-over-year and 6.0% on a sequential basis. We
saw a net asset inflow of HK$5.7 billion, which is a number we
track closely as we transform from a purely transaction-based
business model to a model that increasingly relies on fee income
from assets under management. Money Plus, our mutual fund
distribution platform, witnessed particularly strong growth. As of
September 30, which was only a month after the platform was
officially launched, total client assets in mutual funds had
already surpassed HK$3 billion. We believe that Money Plus is
uniquely positioned in Hong Kong given that the market is notorious
for exorbitant bank subscription fees, and a lack of both
mobile-friendly platforms to manage mutual fund positions and fund
holdings analyses to facilitate investment decisions. The money
market funds are especially popular on our platform because they
offer significantly higher interest rates than bank checking
accounts and because there are so few money market products in Hong
Kong. We seamlessly integrate our clients’ mutual fund and
brokerage accounts so that they can instantaneously redeem money
market fund positions for stock purchases. We will continue to
enrich our mutual fund products as a part of our work to provide
the best investing experience for users.”
“On August 12, we were granted an SFC Type 7
License that allows us to provide automated trading services.
Subsequently on September 27, we launched dark pool trading for HK
IPOs, which is a service unique to the Hong Kong brokerage market
that allows retail investors to trade their IPO allocations the day
before the official listing. We are the fourth brokerage company,
and the only online broker, in Hong Kong to provide such a service.
Our dark pool system is truly differentiated with its speed of
trade execution and number of concurrent trades processed, which
are both enabled by our advanced technology infrastructure.”
“Our enterprise service also recorded solid
growth in the third quarter. We added a record 17 new ESOP clients
and our total number of clients reached 56 as of quarter end. We
are also proud to have been selected to provide US IPO subscription
services to Douyu, 9F and Wanda Sports during the quarter.”
Mr. Arthur Yu Chen, Futu’s Chief Financial
Officer, added, “While most of our operating metrics showed robust
year-over-year growth in the third quarter, our revenue growth
lagged given the lower ARPU due to the weak equities market. Total
revenue rose 12.8% year-over-year to HK$254.3 million, but was flat
on a sequential basis. However, we were encouraged to see another
quarter of robust net asset inflow and resilient quarterly client
retention, which once again speaks to the unique value proposition
of our business.”
“Our gross profit margin came down slightly on a
sequential basis to 72.6% due to the slower revenue growth. On the
expense side, our selling and marketing expenses rose a moderate
13.0%, while R&D expenses increased 77.3% as we added headcount
in our product and R&D functions. We continued to invest in
technology to enhance our trading infrastructure and expand our
product offerings, such as Money Plus, dark pool trading, and Hong
Kong options trading, which we launched in early October. We view
R&D expenses as a long-term investment in our business;
however, we expect our increases in R&D headcount to normalize
in 2020.”
Third Quarter 2019 Financial Results
Revenues
Total revenues were HK$254.3 million (US$32.4
million), an increase of 12.8% from HK$225.5 million in the third
quarter of 2018.
Brokerage commission and handling charge income
was HK$122.8 million (US$15.7 million), an increase of 11.8% from
HK$109.8 million in the third quarter of 2018. The increase was
mainly attributable to higher trading volume and blended commission
rates for US stock trading.
Interest income was HK$115.2 million (US$14.7
million), an increase of 10.8% from HK$104.0 million in the third
quarter of 2018. Bank interest income increased due to higher idle
cash positions and the higher benchmark interest rate in Hong Kong
compared with last year. Margin financing income increased
primarily due to higher margin financing and short selling balances
in the US market.
Other income was HK$16.3 million (US$2.1
million), an increase of 39.3% from HK$11.7 million in the third
quarter of 2018. The rise was primarily due to the new Money Plus
business and higher enterprise public relations service charge
income.
Costs
Total costs were HK$69.8 million (US$8.9
million), a decrease of 3.9% from HK$72.6 million in the third
quarter of 2018.
Brokerage commission and handling charge
expenses were HK$24.6 million (US$3.1 million), an increase of
21.8% from HK$20.2 million in the third quarter of 2018. The rise
was roughly in line with the Company’s brokerage commission
income.
Interest expenses were HK$18.9 million (US$2.4
million), a decrease of 40.9% from HK$32.0 million in the same
period of 2018. The decrease was primarily because the Company
fully repaid funds borrowed from other parties by the end of the
first quarter of 2019.
Processing and servicing costs were HK$26.4
million (US$3.4 million), an increase of 29.4% from HK$20.4 million
in the third quarter of 2018. The rise was primarily due to the
increase in both market information and data fees and cloud service
fees as the Company continued to expand market data services and
enhance infrastructure.
Gross Profit
Total gross profit was HK$184.5 million (US$23.5
million), an increase of 20.7% from HK$152.9 million in the third
quarter of 2018.
Gross margin was 72.6%, compared with 67.8% in
the third quarter of 2018. The rise was primarily due to higher net
interest margin for the Company’s margin financing business.
Operating Expenses
Total operating expenses were HK$152.7 million
(US$19.5 million), an increase of 44.7% from HK$105.5 million in
the third quarter of 2018.
Research and development expenses were HK$70.9
million (US$9.0 million), an increase of 77.3% from HK$40.0 million
in the third quarter of 2018. The rise was primarily due to the
continued increase in research and development headcount as the
Company provided more products.
Selling and marketing expenses were HK$39.1
million (US$5.0 million), an increase of 13.0% from HK$34.6 million
in the third quarter of 2018. The Company scaled back branding and
marketing given the ongoing situation in Hong Kong.
General and administrative expenses were HK$42.7
million (US$5.4 million), an increase of 38.2% from HK$30.9 million
in the third quarter of 2018. The rise was primarily due to an
increase in headcount for general and administrative personnel and
higher professional service fees.
Net Income
Net income decreased by 31.0% to HK$20.9 million
(US$2.7 million) from HK$30.3 million in the third quarter of 2018.
The decrease was primarily due to sluggish revenue growth amid
ongoing market volatility and higher research and development
expenses.
Non-GAAP adjusted net income decreased 27.4% to
HK$23.8 million (US$3.0 million) from HK$32.8 million in the
corresponding period of 2018. Non-GAAP adjusted net income is
defined as net income excluding share-based compensation expenses.
For further information, see "Use of Non-GAAP Financial Measures"
at the bottom of this press release.
Net Income per ADS
Basic net income per American Depositary Share
(“ADS”) was HK$0.18 (US$0.02), compared with HK$0.14 in the third
quarter of 2018. Diluted net income per ADS was HK$0.17 (US$0.02),
compared with HK$0.11 in the third quarter of 2018. Each ADS
represents eight Class A ordinary shares.
Conference Call and Webcast
Futu's management will hold an earnings
conference call on Friday, November 22, 2019, at 7:00 AM U.S.
Eastern Time (8:00 PM on the same day, Beijing/Hong Kong Time).
Dial-in details for the earnings conference call are as
follows:
International: |
|
+65-6713-5090 |
China: |
|
800-819-0121 |
US: |
|
+1-845-675-0437 |
Hong Kong: |
|
+852-3018-6771 |
Passcode: |
|
Futu |
A telephone replay will be available after the
conclusion of the conference call through 7:59 AM U.S. Eastern
Time, November 30, 2019. The dial-in details are:
International: |
|
+61-2-8199-0299 |
US: |
|
+1-646-254-3697 |
Passcode: |
|
1064227 |
Additionally, a live and archived webcast of
this conference call will be available at
https://ir.futuholdings.com/.
About Futu Holdings
Limited
Futu Holdings Limited (Nasdaq: FUTU) is an
advanced technology company transforming the investing experience
by offering a fully digitized brokerage platform. The Company
primarily serves the emerging affluent Chinese population, pursuing
a massive opportunity to facilitate a once-in-a-generation shift in
the wealth management industry and build a digital gateway into
broader financial services. The Company provides investing services
through its proprietary digital platform, Futu NiuNiu, a highly
integrated application accessible through any mobile device, tablet
or desktop. The Company’s primary fee-generating services include
trade execution and margin financing which allow its clients to
trade securities, such as stocks, warrants, options and
exchange-traded funds, or ETFs, across different markets. Futu
enhances the user and client experience with market data and news,
research, as well as powerful analytical tools, providing them with
a data rich foundation to simplify the investing decision-making
process. Futu has also 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.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company
considers and uses non-GAAP adjusted net income, a non-GAAP
measure, as a supplemental measure to review and assess its
operating performance. The presentation of the non-GAAP financial
measure is not intended to be considered in isolation or as a
substitute for the financial information prepared and presented in
accordance with U.S. GAAP. The Company defines non-GAAP adjusted
net income as net income excluding share-based compensation
expenses. The Company presents the non-GAAP financial measure
because it is used by the management to evaluate the operating
performance and formulate business plans. Non-GAAP adjusted net
income enables the management to assess the Company's operating
results without considering the impact of share-based compensation
expenses, which are non-cash charges. The Company also believes
that the use of the non-GAAP measure facilitates investors'
assessment of its operating performance.
Non-GAAP adjusted net income is not defined
under U.S. GAAP and is not presented in accordance with U.S. GAAP.
This non-GAAP financial measure has limitations as analytical
tools. One of the key limitations of using non-GAAP adjusted net
income is that it does not reflect all items of expense that affect
the Company's operations. Share-based compensation expenses have
been and may continue to be incurred in the business and is not
reflected in the presentation of non-GAAP adjusted net income.
Further, the non-GAAP measure may differ from the non-GAAP
information used by other companies, including peer companies, and
therefore their comparability may be limited.
The Company compensates for these limitations by
reconciling the non-GAAP financial measure to the nearest U.S. GAAP
performance measure, all of which should be considered when
evaluating the Company's performance.
For more information on this non-GAAP financial
measure, please see the table captioned "Unaudited Reconciliations
of Non-GAAP and GAAP Results" set forth at the end of this press
release.
Exchange Rate Information
This announcement contains translations of
certain HK dollars (“HK$”) amounts into U.S. dollars ("US$") at
specified rates solely for the convenience of the reader. Unless
otherwise stated, all translations from HK$ to US$ were made at the
rate of HK$7.8401 to US$1.00, the noon buying rate in effect on
September 30, 2019 in the H.10 statistical release of the Federal
Reserve Board. The Company makes no representation that the HK$ or
US$ amounts referred could be converted into US$ or HK$, as the
case may be, at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the "safe harbor"
provisions of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. Among other things, the expectation of its collection
efficiency and delinquency, contain forward-looking statements.
Futu may also make written or oral forward-looking statements in
its periodic reports to the SEC, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about Futu's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: Futu's goal and strategies; Futu's expansion plans;
Futu's future business development, financial condition and results
of operations; Futu's expectations regarding demand for, and market
acceptance of, its credit products; Futu's expectations regarding
keeping and strengthening its relationships with borrowers,
institutional funding partners, merchandise suppliers and other
parties it collaborate with; general economic and business
conditions; and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in Futu's filings with the SEC. All information provided
in this press release and in the attachments is as of the date of
this press release, and Futu does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
For investor and media inquiries, please
contact:
In China: Futu Holdings Limited
E-mail: ir@futuholdings.comIn the United
States: Tip Fleming
Christensen
Tel: +1 (917) 412 3333
E-mail:
tfleming@christensenir.com
FUTU HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS
(In thousands, except for share and per
share data)
|
As of December 31 |
|
As of September 30 |
|
|
2018 |
|
2019 |
|
2019 |
|
|
HK$ |
|
HK$ |
|
US$ |
|
ASSETS |
|
|
|
|
|
|
Cash and cash equivalents |
215,617 |
|
|
414,296 |
|
|
52,843 |
|
|
Cash held on behalf of
clients |
11,771,487 |
|
|
11,305,202 |
|
|
1,441,972 |
|
|
Available-for-sale financial
securities |
59,348 |
|
|
56,540 |
|
|
7,212 |
|
|
Equity method investment |
- |
|
|
6,450 |
|
|
823 |
|
|
Loans and advances |
3,086,904 |
|
|
4,167,549 |
|
|
531,568 |
|
|
Receivables: |
|
|
|
|
|
|
Clients |
120,256 |
|
|
224,000 |
|
|
28,571 |
|
|
Brokers |
425,849 |
|
|
618,015 |
|
|
78,827 |
|
|
Clearing organization |
175,955 |
|
|
109,959 |
|
|
14,025 |
|
|
Interest |
49,427 |
|
|
23,667 |
|
|
3,019 |
|
|
Prepaid assets |
8,810 |
|
|
8,784 |
|
|
1,120 |
|
|
Other assets |
149,279 |
|
|
366,277 |
|
|
46,718 |
|
|
Total
assets |
16,062,932 |
|
|
17,300,739 |
|
|
2,206,698 |
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
Amounts due to related
parties |
8,591 |
|
|
13,409 |
|
|
1,710 |
|
|
Payables: |
|
|
|
|
|
|
Clients |
12,304,717 |
|
|
11,460,558 |
|
|
1,461,787 |
|
|
Brokers |
920,871 |
|
|
1,568,894 |
|
|
200,111 |
|
|
Clearing organization |
- |
|
|
18,143 |
|
|
2,314 |
|
|
Interest |
2,405 |
|
|
3,710 |
|
|
473 |
|
|
Borrowings |
1,576,251 |
|
|
1,316,227 |
|
|
167,884 |
|
|
Accrued expenses and other
liabilities |
149,818 |
|
|
425,836 |
|
|
54,315 |
|
|
Total
liabilities |
14,962,653 |
|
|
14,806,777 |
|
|
1,888,594 |
|
|
|
|
|
|
|
|
|
MEZZANINE
EQUITY |
|
|
|
|
|
|
Series A convertible
redeemable preferred shares |
68,072 |
|
|
- |
|
|
- |
|
|
Series A-1 convertible
redeemable preferred shares |
14,587 |
|
|
- |
|
|
- |
|
|
Series B convertible
redeemable preferred shares |
282,627 |
|
|
- |
|
|
- |
|
|
Series C convertible
redeemable preferred shares |
777,835 |
|
|
- |
|
|
- |
|
|
Series C-1 convertible
redeemable preferred shares |
107,351 |
|
|
- |
|
|
- |
|
|
Total mezzanine
equity |
1,250,472 |
|
|
- |
|
|
- |
|
|
|
|
|
|
|
|
|
SHAREHOLDERS’(DEFICIT)/EQUITY |
|
|
|
|
|
|
Pre-IPO ordinary shares |
31 |
|
|
- |
|
|
- |
|
|
Class A ordinary shares |
- |
|
|
28 |
|
|
4 |
|
|
Class B ordinary shares |
- |
|
|
42 |
|
|
5 |
|
|
Additional paid-in
capital |
- |
|
|
2,520,335 |
|
|
321,467 |
|
|
Accumulated other
comprehensive loss |
(1,299 |
) |
|
759 |
|
|
98 |
|
|
Accumulated deficit |
(148,925 |
) |
|
(27,202 |
) |
|
(3,470 |
) |
|
Total shareholders'
(deficit)/equity |
(150,193 |
) |
|
2,493,962 |
|
|
318,104 |
|
|
Total liabilities,
mezzanine equity and shareholders' (deficit)/equity |
16,062,932 |
|
|
17,300,739 |
|
|
2,206,698 |
|
|
FUTU HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED
STATEMENTS OF COMPREHENSIVE INCOME
(In thousands, except for share and per
share data)
|
For the Three Months Ended |
|
For the Nine Months Ended |
|
September 30,2018 |
|
September 30,2019 |
|
September 30,2019 |
|
September 30,2018 |
|
September 30,2019 |
|
September 30,2019 |
|
HK$ |
|
HK$ |
|
US$ |
|
HK$ |
|
HK$ |
|
US$ |
Revenues |
|
|
|
|
|
|
|
|
|
|
|
Brokerage commission and handling charge income |
109,839 |
|
|
122,794 |
|
|
15,662 |
|
|
294,662 |
|
|
359,775 |
|
|
45,889 |
|
Interest income |
104,005 |
|
|
115,204 |
|
|
14,694 |
|
|
257,737 |
|
|
336,945 |
|
|
42,977 |
|
Other income |
11,682 |
|
|
16,344 |
|
|
2,085 |
|
|
31,768 |
|
|
53,925 |
|
|
6,878 |
|
Total
revenues |
225,526 |
|
|
254,342 |
|
|
32,441 |
|
|
584,167 |
|
|
750,645 |
|
|
95,744 |
|
Costs |
|
|
|
|
|
|
|
|
|
|
|
Brokerage commission and
handling charge expenses |
(20,190 |
) |
|
(24,552 |
) |
|
(3,132 |
) |
|
(59,614 |
) |
|
(69,788 |
) |
|
(8,901 |
) |
Interest expenses |
(32,035 |
) |
|
(18,855 |
) |
|
(2,405 |
) |
|
(73,176 |
) |
|
(58,064 |
) |
|
(7,406 |
) |
Processing and servicing
costs |
(20,375 |
) |
|
(26,402 |
) |
|
(3,367 |
) |
|
(52,549 |
) |
|
(67,032 |
) |
|
(8,550 |
) |
Total
costs |
(72,600 |
) |
|
(69,809 |
) |
|
(8,904 |
) |
|
(185,339 |
) |
|
(194,884 |
) |
|
(24,857 |
) |
Total gross
profit |
152,926 |
|
|
184,533 |
|
|
23,537 |
|
|
398,828 |
|
|
555,761 |
|
|
70,887 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses |
|
|
|
|
|
|
|
|
|
|
|
Research and development
expenses |
(39,990 |
) |
|
(70,886 |
) |
|
(9,042 |
) |
|
(105,657 |
) |
|
(188,023 |
) |
|
(23,982 |
) |
Selling and marketing
expenses |
(34,591 |
) |
|
(39,147 |
) |
|
(4,993 |
) |
|
(73,671 |
) |
|
(113,364 |
) |
|
(14,460 |
) |
General and administrative
expenses |
(30,895 |
) |
|
(42,706 |
) |
|
(5,447 |
) |
|
(73,268 |
) |
|
(109,144 |
) |
|
(13,921 |
) |
Total operating
expenses |
(105,476 |
) |
|
(152,739 |
) |
|
(19,482 |
) |
|
(252,596 |
) |
|
(410,531 |
) |
|
(52,363 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Others, net |
(4,316 |
) |
|
(3,863 |
) |
|
(493 |
) |
|
(6,012 |
) |
|
(7,695 |
) |
|
(981 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Income before income
tax expense |
43,134 |
|
|
27,931 |
|
|
3,562 |
|
|
140,220 |
|
|
137,535 |
|
|
17,543 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gains/(Loss) from equity
method investments |
- |
|
|
261 |
|
|
33 |
|
|
- |
|
|
(209 |
) |
|
(27 |
) |
Income tax expense |
(12,814 |
) |
|
(7,341 |
) |
|
(936 |
) |
|
(39,882 |
) |
|
(15,604 |
) |
|
(1,989 |
) |
Net
income |
30,320 |
|
|
20,851 |
|
|
2,659 |
|
|
100,338 |
|
|
121,722 |
|
|
15,527 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred shares redemption
value accretion |
(16,751 |
) |
|
- |
|
|
- |
|
|
(50,258 |
) |
|
- |
|
|
- |
|
Income allocation to
participating preferred shareholders |
(6,560 |
) |
|
- |
|
|
- |
|
|
(24,213 |
) |
|
- |
|
|
- |
|
Net income
attributable to ordinary shareholders of the Company |
7,009 |
|
|
20,851 |
|
|
2,659 |
|
|
25,867 |
|
|
121,722 |
|
|
15,527 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per share
attributable to ordinary shareholders of the Company |
|
|
|
|
|
|
|
|
|
|
|
Basic |
0.02 |
|
|
0.02 |
|
|
0.003 |
|
|
0.06 |
|
|
0.16 |
|
|
0.02 |
|
Diluted |
0.01 |
|
|
0.02 |
|
|
0.003 |
|
|
0.05 |
|
|
0.14 |
|
|
0.02 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per
ADS |
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
0.18 |
|
|
0.024 |
|
|
|
|
1.25 |
|
|
0.16 |
|
Diluted |
|
|
0.17 |
|
|
0.024 |
|
|
|
|
1.10 |
|
|
0.14 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares used in computing net income per
share |
|
|
|
|
|
|
|
|
|
|
|
Basic |
403,750,000 |
|
|
897,347,760 |
|
|
897,347,760 |
|
|
403,750,000 |
|
|
778,016,433 |
|
|
778,016,433 |
|
Diluted |
508,682,862 |
|
|
1,007,169,117 |
|
|
1,007,169,117 |
|
|
508,387,785 |
|
|
887,893,861 |
|
|
887,893,861 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income |
30,320 |
|
|
20,851 |
|
|
2,659 |
|
|
100,338 |
|
|
121,722 |
|
|
15,527 |
|
Other comprehensive
income, net of tax |
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation
adjustment |
2,466 |
|
|
6,581 |
|
|
840 |
|
|
(4,899 |
) |
|
2,058 |
|
|
262 |
|
Total comprehensive
income |
32,786 |
|
|
27,432 |
|
|
3,499 |
|
|
95,439 |
|
|
123,780 |
|
|
15,789 |
|
FUTU HOLDINGS LIMITED
UNAUDITED CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(In thousands)
|
For the Three Months Ended |
|
For the Nine Months Ended |
|
September 30,2018 |
|
September 30,2019 |
|
September 30,2019 |
|
September 30,2018 |
|
September 30,2019 |
|
September 30,2019 |
|
HK$ |
|
HK$ |
|
US$ |
|
HK$ |
|
HK$ |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
Net cash generated from/(used in) operating
activities |
3,263,923 |
|
|
(716,879 |
) |
|
(91,437 |
) |
|
3,395,805 |
|
|
(1,192,260 |
) |
|
(152,072 |
) |
Net cash used in
investing activities |
(21,655 |
) |
|
(35,388 |
) |
|
(4,514 |
) |
|
(30,716 |
) |
|
(79,099 |
) |
|
(10,090 |
) |
Net cash (used
in)/generated from financing activities |
(2,767,232 |
) |
|
502,161 |
|
|
64,050 |
|
|
360,941 |
|
|
1,003,772 |
|
|
128,030 |
|
Effect of exchange
rate changes on cash, cash equivalents and restricted
cash |
438 |
|
|
13,808 |
|
|
1,761 |
|
|
(1,350 |
) |
|
(19 |
) |
|
(2 |
) |
Net
increase/(decrease) in cash, cash equivalents and restricted
cash |
475,474 |
|
|
(236,298 |
) |
|
(30,140 |
) |
|
3,724,680 |
|
|
(267,606 |
) |
|
(34,134 |
) |
Cash, cash equivalents and
restricted cash at beginning of the period |
10,801,048 |
|
|
11,955,796 |
|
|
1,524,955 |
|
|
7,551,842 |
|
|
11,987,104 |
|
|
1,528,948 |
|
Cash, cash equivalents
and restricted cash at end of the period |
11,276,522 |
|
|
11,719,498 |
|
|
1,494,815 |
|
|
11,276,522 |
|
|
11,719,498 |
|
|
1,494,814 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents
and restricted cash |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
272,371 |
|
|
414,296 |
|
|
52,843 |
|
|
272,371 |
|
|
414,296 |
|
|
52,842 |
|
Cash held on behalf of
clients |
11,004,151 |
|
|
11,305,202 |
|
|
1,441,972 |
|
|
11,004,151 |
|
|
11,305,202 |
|
|
1,441,972 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents
and restricted cash at end of the period |
11,276,522 |
|
|
11,719,498 |
|
|
1,494,815 |
|
|
11,276,522 |
|
|
11,719,498 |
|
|
1,494,814 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-cash financing
activities |
|
|
|
|
|
|
|
|
|
|
|
Accretion to preferred shares
redemption value |
16,751 |
|
|
- |
|
|
- |
|
|
50,258 |
|
|
- |
|
|
- |
|
FUTU HOLDINGS LIMITED
UNAUDITED RECONCILIATIONS OF NON-GAAP AND
GAAP RESULTS
(In thousands)
|
For the Three Months Ended |
|
For the Nine Months Ended |
|
September
30,2018 |
|
September
30,2019 |
|
September
30,2019 |
|
September
30,2018 |
|
September
30,2019 |
|
September
30,2019 |
|
HK$ |
|
HK$ |
|
US$ |
|
HK$ |
|
HK$ |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
30,320 |
|
20,851 |
|
2,659 |
|
100,338 |
|
121,722 |
|
15,527 |
Add: share-based compensation
expenses |
2,450 |
|
2,990 |
|
381 |
|
7,243 |
|
10,585 |
|
1,350 |
Adjusted net income |
32,770 |
|
23,841 |
|
3,040 |
|
107,581 |
|
132,307 |
|
16,877 |
Futu (NASDAQ:FHL)
過去 株価チャート
から 3 2024 まで 4 2024
Futu (NASDAQ:FHL)
過去 株価チャート
から 4 2023 まで 4 2024