Futu Holdings Limited, a leading tech-driven online brokerage and wealth management platform, reported its unaudited financial results for the second quarter ended June 30, 2024. The company saw a significant increase in its operational and financial metrics, with a 28.8% year-over-year growth in paying clients, reaching over two million. Total client assets surged by 24.3% year-over-year to HK$579.3 billion. The total trading volume for the quarter rose by 69.0% compared to the same period last year, reaching HK$1.62 trillion. Financial highlights include a 25.9% increase in total revenues to HK$3.129 billion and a net income growth of 8.0% to HK$1.209 billion. Non-GAAP adjusted net income also saw an 8.6% increase. The company's Chairman and CEO, Leaf Hua Li, expressed optimism, noting...Show More

Futu Holdings Limited, a leading tech-driven online brokerage and wealth management platform, reported its unaudited financial results for the second quarter ended June 30, 2024. The company saw a significant increase in its operational and financial metrics, with a 28.8% year-over-year growth in paying clients, reaching over two million. Total client assets surged by 24.3% year-over-year to HK$579.3 billion. The total trading volume for the quarter rose by 69.0% compared to the same period last year, reaching HK$1.62 trillion. Financial highlights include a 25.9% increase in total revenues to HK$3.129 billion and a net income growth of 8.0% to HK$1.209 billion. Non-GAAP adjusted net income also saw an 8.6% increase. The company's Chairman and CEO, Leaf Hua Li, expressed optimism, noting the addition of 155 thousand paying clients and raising the full-year guidance for new paying clients to 550 thousand. Futu's wealth management assets also experienced substantial growth, and the company underwrote seven of the ten largest Hong Kong IPO listings in the first half of 2024. Despite increased total costs and operating expenses, the company maintained a strong gross profit and net income margin. The earnings call was scheduled for August 20, 2024.