Summary by Futu AI
The US Group announced its results for the year ended 31 December 2023, with revenues up 25.8% year-on-year to RMB2767 billion. The company's operating profit changed from a loss of RMB58 billion last year to a profit of RMB134 billion. Profit for the period improved significantly to a profit of RMB139 billion from last year's loss of RMB67 billion. Adjusted EBITDA and Adjusted Net Profit increased to RMB239 billion and RMB233 billion, respectively. The company also achieved operating cash inflows of RMB405 billion. As of December 31, 2023, the Company's cash and cash equivalents and short-term banking investments were RMB333 billion and RMB111 billion, respectively. The number of real-time delivery transactions grew year-on-year, with both year-on-year trading users and year-on-year active merchants growing significantly. The Company repurchased and written off 44,131,100 shares of Class B shares after the reporting period and converted 4,248,771 Class A shares to Class B shares on February 20, 2024. The Company will hold its Annual General Meeting on June 21, 2024.