Chinese financial industry is growing steadily
Futu Holdings (Chinese: 富途控股, NASDAQ: FUTU) announced its Q3 2022 financial results on 21 November 2022.
The report shows that Futu achieved revenue of HKD 1.95 billion (USD 249.69 million) in Q3 2022, up 12% year-on-year, gross profit of HKD 1.73 billion, increased by 18.0% year-on-year, net profit of HKD 750 million, rose by 22.7% compared to the same period of the previous year, and Non-GAAP (Non Generally Accepted Accounting Principle) net profit of HKD 806 million, raised by 24.8% year-on-year.
Located in Hong Kong, Futu Holdings is a Chinese financial services company that provides market data, information, and social services for individual investors through a self-developed all-in-one digital financial services platform, and builds a comprehensive user-centric fintech ecosystem that connects users, investors, corporations, securities analysts, media and opinion leaders.
At the end of September, Futu's total number of customers with assets reached 1.45 million, up 23.8% year-on-year, with total registered customers increasing 21.4% year-on-year to 3.13 million and total user growth up 15.6% compared to the same period of the previous year to 19.2 million.
Hua Li, Futu's chairman and CEO, said the company is developing online and offline marketing campaigns and expanding customer acquisition channels around low-risk mutual fund products, while upgrading its online marketing approach and deepening partnerships with KOL (Key Opinion Leader).
As of press time, Futu closed at USD 50.40 apiece, with a market cap of USD 7.41 billion.