Daiwa's FUTU 2023Q3 review: new clients accelerated and exceeded full-year guidance, earnings slightly below expectation
Daiwa's FUTU 2023Q3 review: new clients accelerated and exceeded full-year guidance, earnings slightly below expectation
On November 24th, Daiwa released a research report stating that it remains its Buy rating on FUTU.
Daiwa pointed out the following highlights on FUTU:
User acquisitions accelerated. Futu acquired 65k new paying users in 3Q23, with its 9M23 new paying users exceeding full-year target of 150k. Total paying users reached 1.65m, up 14% YoY. Hong Kong contributed over 40% of its new paying users in 3Q23.
Aggregate AUM increased 27% YoY (flat QoQ) as robust net asset inflows offset the mark-to-market losses.
Earnings slightly below expectation due to smaller client idle cash and client acquisition expenses.
11月24日,大和發表研究報告,維持對富途的買入評級。
大和指出了富途的以下亮點:
用戶獲取加速。富途2023年第三季度新增付費用戶6.5萬,23年前9個月新增付費用戶超過全年目標15萬。付費用戶總數達到 165 萬,同比增長 14%。香港地區在第三季度新增付費用戶中佔比超過 40%。
由於強勁的淨資產流入抵消了mark-to-market損失,總資產管理規模同比增長 27%(環比持平)。
盈利略低於預期,原因是客戶閒置現金減少和客戶獲取開支。
譯文內容由第三人軟體翻譯。
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