Fintech PR
Futu’s FY2020 net income hits HK$[1],364M, 6.5 times YoY growth
Operational highlights of the unaudited financial results for the fourth quarter and the full year ended December 31, 2020
- Total revenue in the fourth quarter was HK$1,186.4 million, an increase of 281.6% year-on-year (“YoY”), achieving a YoY triple-digit growth for four consecutive quarters.
- For the full year 2020, Futu Holdings’ total revenues increased by 211.9% YoY to HK$3,310.8 million, and Non-GAAP adjusted net income[1] increased 651.1% YoY to HK$1,364.0 million.
- The number of users reached 11.9 million, an increase of 58.6% YoY; the number of clients reached 1,419,734, an increase of 97.8% YoY; the number of Futu’s paying clients reached 516,721, an increase of 160.5% YoY.
- During the period, the trading volume of Futu US stocks ballooned to HK$783.6 billion, surpassing the US$100 billion milestone for the first time, accounting for 65% of the total trading volume.
Futu Holdings Limited (“Futu” or the “Company”) (NASDAQ: FUTU), a leading tech-driven online brokerage and wealth management platform, announces its unaudited financial results for the fourth quarter (“Q4” or the “Period”) and full year ended December 31, 2020.
During the period, total revenues reached HK$1,186.4 million, an increase of 281.6% YoY, the fourth consecutive quarter of a YoY triple-digit growth. Non-GAAP adjusted net income was up 10.2 times year-over-year to HK$552.9 million. Brokerage commission and handling charge income increased 373.8% YoY to HK$718.3 million, interest income increased by 163.2% YoY to HK$336.9 million, and other income (including wealth management, enterprise services, etc.) increased by 317.8% YoY to HK$131.2 million.
For the full year of 2020, Futu’s total revenues increased by 211.9% YoY to HK$3,310.8 million. It recorded a non-GAAP adjusted net income of HK$1,364.0 million, an increase of 651.1% YoY.
As of the end of 2020, the total number of users reached 11.9 million, an increase of 58.6% YoY; the number of registered clients increased 97.8% YoY to 1,419,734; the number of paying clients increased 160.5% YoY to 516,721. In the fourth quarter, the Company added 98,632 paying clients on a net basis; the number of paying clients in Hong Kong increased by 260% YoY, setting a record high quarterly since listing, and achieving triple-digit year-on-year growth for four consecutive quarters.
As of December 31, 2020, total client assets reached HK$285.2 billion, a YoY increase of 227.3%. While the number of clients is growing rapidly, the client retention rate continued to be maintained at a high level of 98% in 2020. In the fourth quarter, clients’ active trading activity was also further propelled, as Daily Average Revenue Trades (DARTs) increased 339.9% YoY to 462,261.
US stocks business spikes, quarter trading volume exceeded 100 billion US dollars
During the period, Futu’s total trading volume increased 438.1% YoY to HK$1,210.0 billion, in which trading volume for US stocks was HK$783.6 billion, marking a new milestone of exceeding US$100 billion, and accounting for 65% of the total trading volume. Futu has therefore further consolidated its position as a leading one-stop global investment APP.
Being the one-stop investment platform that integrates investment transactions, up-to-date news, real-time market data, and trading community interaction, Futu has become the preferred platform for portfolio diversification among global investors. From market accessibility perspectives, and after years of endeavor in R&D, Futu was the first online brokerage to offer users free Level 2 market data for US stocks. Futu’s extended trading hour service enabled clients to capture investment opportunities with ease. Meanwhile, Futu News is one of the few platforms providing 24/7 US market updates, where global financial news and stock analysis are all at users’ fingertips. Further propelled by an active investment community wherein tens of millions of users seamlessly exchange thoughts and ideas to help make informed investment decisions, Futu’s US stock business continues to thrive.
Multiple licenses covering extensive areas, enters Singapore market to further expand international presence
Futu is committed to extending its licenses and qualifications in widening its product and service offerings. During the period, Futu gained approval on providing grey market services to intermediaries on the basis of the “Provide Automated Trading Services (Type 7) License” from SFC, enabling Futu to become the upstream provider of grey market trading services and offering other brokerages access to Futu’s self-developed grey market system. Futu also obtained the Singapore Capital Markets Services (CMS) License in the fourth quarter. Futu Holdings’ subsidiaries have held 35 financial licenses and qualifications in Hong Kong, the United States, Singapore as well as Europe, with footholds across major financial markets worldwide.
With its edges expanding via multiple license acquisition, Futu is vigorously advancing its internationalization strategy. In the first quarter of 2021, Futu officially entered the Singapore market, providing local investors with a seamless one-stop online trading experience, and bridging them to major global financial markets. In support of its international expansion, Futu will continue to ramp up its marketing and further strengthen its presence in the US market.
Mr. Leaf Hua Li, Futu’s Founder, Chairman, CEO & Chairman of the Technology Committee, said: “Futu sees Singapore as the key market for expansion next. Being well-positioned as the financial hub in Southeast Asia, Singapore provides a cohesive environment for FinTech development, serving as a pivot for Futu to expand our footprints to other SEA countries. We hope to establish a presence in Singapore with the provision of unparalleled investment experience to local users. Indeed, the market structure of Singapore and Hong Kong is similar. Both share the similar advantages of being an international financial center, situated within the same time zone and having dense populations. I am confident that we can make a difference in Singapore by leveraging on the successful experience we earned from the Hong Kong market.”
Enterprise Services continues to grow in prominence, helping 100+ companies listed in Hong Kong and the US
As the preferred Internet brokerage for listing on the US and Hong Kong markets, Futu’s Enterprise Services business brand, FUTU I&E, continued to be the go-to enterprise service partner. During the period, it helped numerous companies including MINISO, Lufax, Yatsen Holding, Blue Moon and JD Health successfully land in the US and Hong Kong stock markets. Futu I&E has provided IPO distribution services and investor relations services for 105 companies. Aggregating over ten million high-quality users with ample client assets, and diversified interaction design, Futu is leading the next-generation of IR services which allow companies to precisely promote their investment values to targeted audiences in an effective manner. 22 companies featured on the Futu HK$10bn+ Subscriptions IPO Roster as of year end 2020.
In the fourth quarter, Futu I&E’s ESOP option management clients accumulated to 159, including industry leaders across various industries such as healthcare & medical, consumer & retail, automotive & logistics, and TMT, namely RemeGen, POP MART, Xpeng Motors and KE Holdings Inc. By providing new economy and traditional enterprises with one-stop ESOP management services from planning, trust and taxation services, data management and exercise, Futu I&E has become the preferred one-stop ESOP services provider for leading companies among different sectors.
Seamlessly integrated wealth management and trading accounts, Money Plus’s AUM marks HK$10 billion benchmark
For its wealth management business, Money Plus has undergone a brand refresh during the period. Total client assets in Money Plus was HK$10.2 billion, highlighted with a cumulative total return of over HK$300 million for clients. As of the end of 2020, a total of nearly 110,000 clients have purchased Futu Money Plus’s fund products. As of the fourth quarter, Money Plus has established partnerships with 39 asset managers around the world, which altogether hosted 39 live-streaming sessions on the Futubull platform in 2020 to conduct fund publicity and investor education.
With rising numbers of clients leveraging on fund products to capture opportunities from equity markets, wealth management positions held continued to grow. Among them, equity fund themes, including Greater China, technology and new energy, were highly sought by clients. Augmented by dedicated in-house research efforts in picking selected funds, multiple funds available on Futu’s platform recorded over 100% returns in 2020, generating considerable returns for clients.
Fintech PR
DAZN ADVANCES GLOBAL EXPANSION WITH ACQUISITION OF FOXTEL, A LEADING AUSTRALIAN SPORTS AND ENTERTAINMENT MEDIA GROUP
- Milestone deal for DAZN’s position as the global home of sport.
- This acquisition establishes DAZN’s sports platform in Australia, one of the world’s most attractive sports markets.
- Foxtel Group will leverage DAZN’s global reach, industry-leading technology and extensive content portfolio to further enhance the viewing experience for Australian sports fans.
LONDON, NEW YORK, and SYDNEY, Dec. 22, 2024 /PRNewswire/ — DAZN, a world-leading sports entertainment platform, has today announced an agreement to acquire Foxtel Group (‘Foxtel’) from its majority shareholder News Corp and minority shareholder Telstra at an enterprise value of US$2.2 billion, subject to regulatory approval.
The acquisition establishes DAZN as a leader in sports entertainment in Australia – a highly attractive sports market – while also expanding DAZN’s global footprint and enhancing the group’s standing as the global home of sport. The addition of Foxtel to DAZN brings the Group’s pro-forma revenues towards US$6 billion and provides the additional content, expertise, and expansion opportunities to accelerate DAZN’s growth trajectory.
Foxtel is one of Australia’s leading media companies, with 4.7 million subscribers, who will benefit from DAZN’s extensive portfolio of sports content, platform technology, and global reach.
From its beginnings as Australia’s original pay-TV innovator, Foxtel has evolved to become a digital and streaming leader in sports and entertainment and the proposed transaction positions Foxtel for continued expansion as a digital-first, streaming-focused business. Foxtel will maintain its local character, led by the CEO, Patrick Delany, and his world-class management team.
DAZN, a sports streaming platform with a truly global reach, is committed to growing the global audience for domestic Australian sports across the 200 territories in which it is available.
Under the terms of the transaction, News Corp and Telstra will become minority shareholders in DAZN, enabling them to retain an interest in Foxtel.
Shay Segev, Chief Executive Officer of DAZN, said: “Australians watch more sport than any other country in the world, which makes this deal an incredibly exciting opportunity for DAZN to enter a key market, marking another step in our long-term strategy to become the global home of sport. Foxtel is a successful business that has undergone a remarkable digital transformation in recent years, and we are confident that our global reach and relentless pursuit of innovation will continue to drive the business forward and ensure long-term success.
“We are committed to supporting and investing in Foxtel’s television and streaming services, across both sports and entertainment, using our world-leading technology to further enhance the viewing experience for customers. We are also committed to using our global reach to export Australia’s most popular sports to new markets around the world, and we will continue to promote women’s and under-represented sports.
“We’re looking forward to working closely with Patrick Delany and his team, as well as News Corp and Telstra as shareholders in DAZN, to realise our ambitious vision for the future of sport entertainment.”
Siobhan McKenna, the Chairman of Foxtel, said the agreement with DAZN was international recognition of the transformation of Foxtel from an incumbent pay TV operator to a sports and entertainment digital and streaming leader. “Over the last seven years the Foxtel team, with the strong support of News, have achieved an extraordinary turnaround in an intensely competitive environment.”
Foxtel Group CEO, Patrick Delany, said: “Today’s announcement is a natural evolution for the Foxtel Group, having reinvented the company over the past five years as Australia’s most dynamic technology-led streaming company.
“Kayo and Foxtel provide Australian sports fans with access to the best Australian and international sport and shows, including AFL, NRL and Cricket with 4.7 million subscribers.
“We are excited by DAZN’s commitment to the Australian market. They are experts in the sports media business and can play a significant role in supporting Foxtel as the business grows its streaming capabilities, bringing a bigger and better service to customers across entertainment, news and sport. They are a perfect match for us as we look toward this next era of growth.
“We have been grateful for the support of News Corp while we reimagined the future of Foxtel. In 2019, when we merged Foxtel and Fox Sports we had many people questioning our future.
“After launching Kayo later in 2019 and BINGE in 2020, today we are the largest Australian-based streamer of sport and entertainment, we have stabilised our Foxtel base and launched Hubbl to help consumers find all the streamed content they love all in one place. This wouldn’t have been possible without the support and encouragement of News Corp.”
NOTES TO EDITORS
About DAZN
As a world-leading sports entertainment platform, DAZN streams over 90,000 live events annually and is available in more than 200 markets worldwide.
DAZN is the home of European football, women’s football, boxing and MMA, and the NFL internationally. The platform features the biggest sports and leagues from around the world – Bundesliga, Serie A, LALIGA, Ligue 1, Formula 1, NBA, Moto GP, and many more including the 2025 FIFA Club World Cup.
DAZN is transforming the way people enjoy sport. With a single, frictionless platform, sports fans can watch, play, buy, and connect. Live and on-demand sports content, anywhere, in any language, on any device – only on DAZN.
DAZN partners with leading pay-TV operators, ISPs and Telcos worldwide to maximise sports exposure to a broad audience. Its partners include Deutsche Telekom, Orange, Sky, Movistar, Telenet, Vodafone, and many more.
DAZN is a global, privately-owned company, founded in 2016, with more than 3,000 employees. The Group generated $3.2bn in revenue in 2023, having grown its annual revenues by over 50% on average from 2020 to 2023, through diverse revenue streams comprising subscriptions, advertising, sponsorship, and transactional. For more information on DAZN, our products, people, and performance, visit www.dazngroup.com.
About Foxtel
The Foxtel Group is one of Australia’s leading media companies with 4.7 million subscribers. Its businesses include subscription television, streaming, sports production and advertising. The Foxtel Group is owned 65% by News Corp and 35% by Telstra.
The Foxtel Group’s diversified business includes Fox Sports, Australia’s leading sports production company, famous for live sports and shows with the best commentators and personalities. It is also the home of local and global entertainment content and continues to be the partner of choice for the widest range of sports and international content providers based on established, long-term relationships, growing streaming audiences, and position as the largest Australian-based subscription television company.
View original content:https://www.prnewswire.co.uk/news-releases/dazn-advances-global-expansion-with-acquisition-of-foxtel-a-leading-australian-sports-and-entertainment-media-group-302337997.html
Fintech PR
President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo
LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:
“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.
Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.
Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.
It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.
I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”
LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.
With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.
Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.
Key Tips to Protect Businesses This Holiday Season:
- Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
- Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
- Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
- Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
- Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
- Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
- Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.
“ Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.
Common Holiday Scams That Businesses Should Watch For:
Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:
- Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
- Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
- Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
- Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
- Corporate travel scams: Fake booking platforms targeting business travelers.
- Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.
For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.
About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.
Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.
For further press information:
Madalina Popovici
Media Relations Manager
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html
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President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB