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FUTU Futu Announces First Quarter 2021 Unaudited Financial Results May 19 , 2021 HONG KONG , May 19 , 2021 ( GLOBE NEWSWIRE ) -- Futu Holdings Limited ( “ Futu " or the " Company " ) ( Nasdaq : FUTU ) , a leading tech - driven online brokerage and wealth management platform in China , today announced its unaudited financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Operational Highlights • Total number of paying clients¹ increased 231.0 % year - over - year to 789,652 . • Total number of registered clients² increased 140.2 % year - over - year to 1,957,436 . • Total number of users³ increased 69.7 % year - over - year to 14.2 million . • Total client assets increased 367.6 % year - over - year to HK $ 462.2 billion . • Daily average client assets were HK $ 384.7 billion in the first quarter of 2021 , an increase of 303.7 % from the same period in 2020 . • Total trading volume increased 277.5 % year - over - year to HK $ 2.2 trillion , in which trading volume for US stocks was HK $ 1.4 trillion and trading volume for Hong Kong stocks was HK $ 816.2 billion . • Daily average revenue trades ( DARTS ) 4 increased 321.0 % year - over - year to 902,533 . • Margin financing and securities lending balance increased 469.5 % year - over - year to HK $ 27.4 billion . First Quarter 2021 Financial Highlights • Total revenues increased 349.4 % year - over - year to HK $ 2,204.6 million ( US $ 283.6 million ) . • Total gross profit increased 372.6 % year - over - year to HK $ 1,761.4 million ( US $ 226.6 million ) . • Net income was up 6.5 times year - over - year to HK $ 1,162.3 million ( US $ 149.5 million ) . • Non - GAAP adjusted net income5 was up 6.3 times year - over - year to HK $ 1,179.2 million ( US $ 151.7 million ) . Mr. Leaf Hua Li , Futu's Chairman and Chief Executive Officer , said , " We are excited to announce that our operating and financial results continued to achieve robust growth . " " We added approximately 273 thousand paying clients in the first quarter , which accounts for 39 % of our full year growth target . As of quarter end , we had approximately 790 thousand paying clients , representing 231.0 % year - over - year growth . Among the net additions in the first quarter , 70 % came from Hong Kong , Singapore and other overseas markets , and over 50 % joined our platform organically . Client acquisition in Singapore has far exceeded our expectations since the official launch on March 8 , and the strong momentum continued into the second quarter . Our superior product experience and laser focus on client servicing , coupled with our online and offline advertising and strong word - of - mouth referral , have helped us quickly capture the mindshare of Singaporeans . We are encouraged by what we have achieved in Singapore so far and are convinced that Singapore and the broader Southeast Asian market offer huge runway for growth . Despite rapid client base expansion , our quarterly paying client churn rate remained below 2 % . " " Total client assets reached HK $ 462.2 billion as of quarter end , representing 367.6 % growth on a year - over - year basis and 62.1 % growth on a quarter over - quarter basis . Average client asset balance thus further climbed to HK $ 585 thousand . " " Total trading volume was HK $ 2.2 trillion , up 277.5 % year - over - year and 85.7 % quarter - over - quarter . U.S. and Hong Kong stock trading volume were HK $ 1.4 trillion and HK $ 816.2 billion , respectively . As part of our efforts to broaden trading offerings , we launched OSE futures from the Japan Exchange Group and Singapore stock trading in the first quarter . " " Our wealth management business Money Plus established new partnerships with 4 reputable asset managers , namely Wells Fargo , Income Partners , Aberdeen Standard and BNY Mellon . As of quarter end , over 59,000 clients held wealth management positions and total client asset balance in wealth management products was HK $ 13.1 billion , up 188.6 % and 108.0 % year - over - year , respectively . " " As for our enterprise business Futu I & E , we had 152 IPO and IR clients as well as 200 ESOP solution clients as of March 31 , 2021. In the first quarter , we participated in all Chinese ADR's secondary listings in Hong Kong , and were the only online broker in the selling groups of the Hong Kong IPOs of Kuaishou , Baidu , and Bilibili . " Mr. Arthur Yu Chen , Futu's Chief Financial Officer , added , " In April , we completed a follow - on offering with net proceeds of approximately US $ 1.4 billion . The offering was met with significant interests from leading investors across the globe and the order book was multiple times oversubscribed . The offering proceeds will be used for margin financing business , international expansion , new license applications , potential investment and acquisition opportunities , and other general corporate purposes . " 1 The number of paying clients refers to the number of clients with assets in their trading accounts with Futu . 2 The number of registered clients refers to the number of users who open one or more trading accounts with Futu . 3 The number of users refers to the number of user accounts registered with Futu . 4 5 The number of Daily Average Revenue Trades ( DARTS ) refers to the number of average trades per day that generate commissions or fees . Non - GAAP adjusted net income is defined as net income excluding share - based compensation expenses . First Quarter 2021 Financial Results