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Futu Holdings Ltd | 6-K: Futu Announces Fourth Quarter and Full Year 2023 Unaudited Financial Results

SEC announcement ·  Mar 14 18:13
Summary by Futu AI
Futu Holdings Limited, a leading tech-driven online brokerage and wealth management platform, reported its unaudited financial results for the fourth quarter and full year ended December 31, 2023. The company saw a 15.0% year-over-year increase in paying clients to 1,710,106, and a 10.2% increase in registered clients, totaling 3,561,966. Total client assets rose by 16.3% to HK$485.6 billion. However, total trading volume for the fourth quarter decreased by 12.5% year-over-year, with a notable decline in U.S. and Hong Kong stock trading volumes. Despite this, total revenues for the fourth quarter increased by 4.1% to HK$2,373.3 million, while net income fell by 8.6% to HK$876.4 million. For the full year, total revenues surged by 31.4%, reaching HK$10.0084 billion, and net income increased by 46.2% to HK$4,278.9 million. The company also announced a new share repurchase program of up to US$500 million valid until December 31, 2025. Futu's Chairman and CEO, Leaf Hua Li, expressed confidence in client acquisition for 2024, with a target of 350 thousand net new paying clients.
Futu Holdings Limited, a leading tech-driven online brokerage and wealth management platform, reported its unaudited financial results for the fourth quarter and full year ended December 31, 2023. The company saw a 15.0% year-over-year increase in paying clients to 1,710,106, and a 10.2% increase in registered clients, totaling 3,561,966. Total client assets rose by 16.3% to HK$485.6 billion. However, total trading volume for the fourth quarter decreased by 12.5% year-over-year, with a notable decline in U.S. and Hong Kong stock trading volumes. Despite this, total revenues for the fourth quarter increased by 4.1% to HK$2,373.3 million, while net income fell by 8.6% to HK$876.4 million. For the full year, total revenues surged by 31.4%, reaching HK$10.0084 billion, and net income increased by 46.2% to HK$4,278.9 million. The company also announced a new share repurchase program of up to US$500 million valid until December 31, 2025. Futu's Chairman and CEO, Leaf Hua Li, expressed confidence in client acquisition for 2024, with a target of 350 thousand net new paying clients.
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