Fintech PR
Futu reaches 15 million global users, reflecting strong international expansion
Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading, tech-driven online brokerage and wealth management platform, has announced its unaudited financial results for the second quarter ending June 30, 2021 (“Q2”).
In Q2, Futu reached several key milestones. The total number of Futu’s paying clients increased to one million, including 100,000 paying clients that came from Singapore. Another major milestone was that the Company’s stock was added to the MSCI Hong Kong Index. In the same quarter, the Company obtained an investment grade long-term issuer credit rating “BBB-” from S&P Global Ratings, becoming the first online broker in the Asia-Pacific region to have obtained this international rating.
Futu’s corporate services experienced strong growth this quarter. Futu I&E’s IPO and IR clients climbed to 186, with its ESOP solution clients reaching 263 as of June 30, 2021. During the first half of 2021, Futu participated in the underwriting or distribution of all Chinese ADR’s secondary listings in Hong Kong, as well as numerous HK$100-billion Hong Kong IPOs, namely Kuaishou Technology, Baidu Inc., Bilibili Inc. and JD Logistics, Inc.
This quarter, Futu’s wealth management business Money Plus partnered with 50 world-renowned asset managers, establishing seven new partnerships in Q2. Total client asset balance under Money Plus was approximately HK$13.8 billion ($1.77 billion USD), up 59.2% YoY as of June 30, 2021.
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[1] Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses. |
Paying clients reached one million, with 80% of newly acquired clients originating from Hong Kong and other overseas markets
In Q2, Futu’s momentum in revenue growth remained strong with a 129.3% year-over-year increase to $203.1 million, reflecting triple-digit growth for six consecutive quarters. Non-GAAP adjusted net income also saw 126.7% YoY growth, reaching $70.9 million.
Brokerage commission and handling charge income increased by 94.8% YoY to $102.7 million; interest income reached $78.6 million, representing an increase of 193.6%; and other income (including wealth management, enterprise services, etc.) increased by 140.5% YoY to $21.7 million.
As of Q2, Futu reached 15.5 million global users, representing a 66.8% increase YoY; the number of registered clients increased by 142.5% YoY to 2.32 million; and the number of paying clients increased by 230.2% YoY, reaching one million. Futu’s client retention rate remained strong at 98% during the first half of 2021.
It is worth noting that net paying clients tripled YoY to approximately 211,000 (Q2 2020: 65,000). With international expansion continuing to accelerate this past quarter, about 80% percent of newly acquired paying clients resulted from the exponential growth Futu has realized in Hong Kong, Singapore and other overseas markets. As of quarter end, total client assets hit a new high of $64.8 billion (approximately HK$503.2 billion), representing a 253.5% increase YoY. Average client asset balance climbed to about $64,700 (approximately HK$500,000).
The brokerage business maintained steady growth, with total trading volume increasing 104.3% to $169.4 billion. Daily average revenue trades (DARTs) increased by 105.4% YoY to 540,988.
International expansion continued to accelerate, with the number of paying clients in Singapore soaring to 100,000
In Q2, Futu maintained market leadership in Hong Kong, and international expansion continued to accelerate.
In Hong Kong, Futu reinforced its leading position with its diverse investment products, convenient online account opening services, seamless investment experience and trusted reputation among investors of all ages. The number of paying clients in Hong Kong surged by 270% YoY, reflecting three-digit YoY growth for several consecutive quarters. During Hong Kong’s latest round of iBond subscription, Futu received massive support from the market, sharing 12% of total valid applications and 7.5% of the total subscription amount of bonds.
In the US, Futu successfully launched its customized “moomoo Ambassadors” campaign this quarter, as well as other omni-channel marketing strategies. In May, moomoo secured the title sponsorship for Yahoo Finance’s exclusive livestream of the 2021 Berkshire Hathaway Shareholders Meeting. moomoo has gained recognition in the US market for providing a platform where users can join live conversations with industry experts.
Since launching the moomoo app in Singapore in March, Futu has invested in product and service enhancements, including rolling out a local customer support hotline that allows users to stay connected with the market 24 hours a day on trading days and 12 hours per day on non-trading days. To better serve its growing client base, Futu continued to hire local talent to assist in carrying out its global expansion strategy.
Now moomoo is already considered one of the fastest-growing online trading platforms in Singapore and will continue to focus on raising brand awareness among local retail investors and growing its user and client base. In the three months since launching moomoo in Singapore, Futu has amassed over 220,000 users and 100,000 paying clients. Now moomoo has gained tremendous popularity among the local community in Singapore, consistently dominating the top three finance apps in both the App Store and Google Play.
“As an international, tech-driven online brokerage, Futu puts the user experience and needs of its clients first. We are dedicated to driving innovation and providing more user-friendly and state-of-the-art FinTech services to investors. We feel immensely proud of the strong growth we’ve achieved in Singapore and are thankful for all the support we have received from their investing community. Singapore is a key focus of our international expansion strategy, and we are humbled to see that moomoo has attracted such a large customer base in such a short period of time. We are proud of the market traction we’ve gained globally, thanks to our industry-leading products and services,” said Mr. Leaf Hua Li, Futu’s Founder, Chairman, CEO & Chairman of the Technology Committee.
He adds, “Looking ahead, we are devoted to catering to the evolving needs of the Singapore market and look forward to deepening our relationship with local industry partners, while promoting financial literacy and driving innovation within the FinTech industry.”
Supported new enterprises in their IPO or secondary listing journeys, serving nearly 450 corporate clients to date
Our enterprise business, Futu I&E, continued to support corporate clients by connecting companies to investors throughout their entire IPO journey—from IPO distribution to IR & PR services, ESOP services, and building brand trust.
As of quarter end, Futu has provided IPO distribution and IR services to 186 companies, reflecting its competitive strengths in IPO distribution and capturing the upsurge of the IPO frenzy in Hong Kong. Futu I&E participated in the underwriting or distribution of all HK$100-billion IPO listings and Chinese ADRs secondary listings in Hong Kong. As of this quarter, there are 26 companies on Futu’s HK$10B+ ($1.28B+ USD) Subscriptions IPO Roster, including JD Logistics Inc., Angelalign Technology Inc., Nayuki Holdings Ltd. and CARsgen Therapeutics Holdings Ltd.
Futu’s collaborative and engaged community rose to the forefront in Q2, with 600 companies joining the Futu Page, Futu’s enterprise accounts for listed companies, including Haidilao International Holdings Ltd., Sunac China Holdings Ltd., Angelalign Technology Inc., China Unicom (HK) Ltd., and China Gas Holdings Ltd.
“Futu is committed to deepening its presence in the Hong Kong market and has demonstrated its strengths in IPO distribution and IR services. Our mission is to better serve promising Chinese enterprises seeking an IPO or secondary listing in Hong Kong, made possible through our unparalleled solutions and services, which range from IPO subscription, setting up their Futu Page accounts, running virtual roadshows and facilitating briefing sessions. Futu is well-positioned to connect listed companies with high-quality retail investors and facilitate meaningful exchanges about corporate values and business prospects. As more companies look to gain a foothold in the Hong Kong market, working with us will allow those enterprises to step into the spotlight, which will further amplify the value and advantages of the Hong Kong stock market,” said Mr. Li.
As of quarter end, Futu I&E has provided ESOP solutions to 263 corporate clients from various sectors, namely healthcare, consumer retail and leading technology. Futu also added market leaders, such as Yidu Tech Inc., Simcere Pharmaceutical Group Ltd., Pop Mart International Group Ltd., and Nayuki Holdings Ltd. to its client roster. By providing one-stop ESOP services that support companies with scheme design, trust building, vesting and exercising, and foreign exchange registration, Futu I&E has become the preferred ESOP solutions provider in the market.
Wealth management business experienced surge in growth from teaming up with 50 reputable financial institutions
Thanks to the diverse product offering of Futu’s Money Plus—including transparent fund reports, an unparalleled investing experience and zero subscription fees—Futu’s wealth management business has continued to earn clients’ trust. As a result, Futu experienced significant growth, becoming a popular wealth management platform across Hong Kong and other markets. As of quarter end, total client asset balance under Money Plus grew to $1.77 billion, up 59.2% YoY.
In Q2, Futu Money Plus teamed up with 50 reputable financial industry partners and established new partnerships with seven asset managers, including Goldman Sachs Asset Management, Eastspring Investments, UBS Asset Management, Principal Global Investors, Matthews Asia, Columbia Threadneedle Investments and Man Investments.
Additionally, Futu became the sole distributor for the sale and distribution of an exclusive fund last quarter—the ChinaAMC Select Greater China Technology Fund—for those seeking investment in China-related technology companies. Following the exclusive sale of the Hong Kong dollar share of Fullgoal China Small and Medium-Cap Growth Fund, Futu once again obtained the exclusive right to sell products from well-known fund companies, confirming Futu Money Plus’s platform strength and market recognition.
Futu partnered with 11 fund companies to conduct a live roadshow this past quarter, which generated over 2.4 million views. Money Plus also successfully held its first Investment Strategies Webinar, which brought together a group of investing and research experts from several world-renowned asset management institutions, including BlackRock, China Asset Management, Baring, and Harvest, to share investment news, strategies, and perspectives to more than 20,000 viewers.
Futu Money Plus also upgraded its services to further enhance the fund investment experience. Most notably, Futu developed an auto-redemption feature for money market funds, which can be directly used for IPO subscription, trading stocks and funds, paying financing interests and currency exchanges and more seamlessly transitioning idle cash between investing and trading.
Fintech PR
Newmark Group’s Fourth Quarter and Full Year 2024 Financial Results Announcement to be Issued Prior to Market Open on Friday, February 14, 2025
Conference call scheduled for the same day at 10:00 a.m. ET
NEW YORK, Jan. 9, 2025 /PRNewswire/ — Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark” or “the Company”), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, today announced the details of its fourth quarter and full year 2024 financial results press release and conference call. The Company plans to issue an advisory press release regarding the availability of its consolidated quarterly and full year financial results at 8:00 a.m. ET on Friday, February 14, 2025. Newmark’s advisory release will notify the public that a full-text financial results press release will be accessible at the following pages:
http://ir.nmrk.com (PDF version of the full press release, PDF of a quarterly results investor presentation, link to the webcast, and supplemental Excel financial tables)
https://www.nmrk.com/media (PDF version of the full press release only)
Newmark will host a conference call on Friday, February 14, 2025, at 10:00 a.m. ET to discuss its results.
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WHO: |
Newmark Group, Inc. (Nasdaq: NMRK) |
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WHAT: |
Fourth Quarter and Full Year 2024 Financial Results Conference Call |
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WHEN: |
Friday, February 14, 2025, at 10:00 a.m. ET |
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WHERE: |
https://event.webcasts.com/starthere.jsp?ei=1703440&tp_key=629defdc2c |
For those who are unable to join the webcast, the Company expects to post dial-in information before the day of the call on the event’s page at http://ir.nmrk.com.
Webcast Replay
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Expected Available From – To: |
02/14/2025 at 1:00 p.m. ET – 02/14/2026 at 11:59 p.m. ET |
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Replay Link: |
https://event.webcasts.com/starthere.jsp?ei=1703440&tp_key=629defdc2c |
Note: If clicking the above links does not open a new webpage, you may need to cut and paste the URLs into your browser’s address bar.
ABOUT NEWMARK
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of over $2.6 billion. As of September 30, 2024, Newmark’s company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT NEWMARK
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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- Piloted by 60 enterprise businesses including: Patagonia, On, Indeed, NordSecurity and Fubo
- AI helps businesses increase payment conversion rates by up to 6% compared to legacy implementations
NEW YORK, Jan. 9, 2025 /PRNewswire/ — Adyen, the global financial technology platform of choice for leading businesses, announces the launch of Adyen Uplift. The AI-powered payment optimization suite will help businesses increase payment conversion, simplify fraud management, and reduce the cost of payments. Adyen’s customers can utilize data-driven, tailored performance recommendations and opportunities to test different payment configurations to maximize performance.
Saving businesses from trading off between conversion, risk, and cost
The complexity of payment management still holds businesses back from reaching their ambitions. They constantly need to compromise between conversion, fraud, and cost. Thanks to Adyen Uplift, businesses can optimize the full payments funnel with AI. AI-powered payment optimizations bundled in a single product suite are trained on Adyen’s global transaction dataset. Rather than navigating the complexity of payments in operational silos, the AI-first approach uses risk-based intelligence and automated conversion optimization to help businesses get more out of payments. The pilot has shown a significant effect on profits, with businesses seeing an overall uplift of up to 6% on their payment conversion rate.
“Balancing risk management, driving conversion, and minimizing cost has always required ineffective compromises – until now” said Carlo Bruno, VP of Product at Adyen. “Adyen Uplift changes the game by unleashing the depth and power of AI to solve for real-time payment optimization. This will transform cost savings and performance, redefining business efficiency in 2025 and beyond.”
$1 trillion+ payments data
Businesses and other providers rely on limited datasets, impacting their ability to recognize shoppers and payment behavior. With Adyen Uplift, companies benefit from AI trained on over a trillion dollars worth of global payments data from Adyen’s single platform.
“We’ve increased our conversion rate by up to 2% with Adyen’s AI, making a real difference to both our performance and cost efficiency, while keeping fraud under control,” commented Luca Spichtig, Head of Digital Operations & Projects at On.
Adyen has processed payments for over one billion consumers globally, giving its AI solutions a strong basis to differentiate good shoppers from fraudsters. When an Adyen customer encounters a new shopper, there is a high likelihood that Adyen has seen the shopper elsewhere on the platform. For a retail merchant on the Adyen platform, there is more than a 90% chance that Adyen has seen that shopper before. When a good shopper is identified, AI optimizations allow them to speed through checkout whilst shoppers and retailers also benefit from precise payment fraud mitigation.
“We’ve increased our conversion rate on customer initiated transactions by 10% by leveraging Adyen’s AI technology, which optimizes the entire payment funnel while maintaining control over fraud and costs,” commented Kes Saulis, Head of Payments at Nord Security.
The AI-first approach to fighting fraud
Today, the fraud control process is highly complex, requiring businesses to implement extensive manual rules to combat ever-evolving fraud techniques. With Adyen Uplift, businesses can automate fraud control by removing the operational burden from fraud management teams. The solution automates and refines risk management without relying on manual rules. This enables businesses to lower fraud levels and reduce false positives, depending on their risk appetite.
Businesses piloting the risk product have seen the impact firsthand. Adyen’s pilot enterprise customers have reduced their manual risk rules by 86% on average, and 35% of customers have completely eliminated manual rules saving valuable time and resources.
Adyen’s customer Indeed, a leading job matching and hiring platform, was able to run AI-based optimization experiments that are tailored to the unique characteristics of its business. This translated into a reduction in operational workload by automating processes to drive efficiency.
Reduce payment processing costs by up to 5%
Today, businesses are more focused than ever on their bottom line, yet many still view payments as a commodity rather than a powerful cost-saving strategy.
Adyen Uplift has reduced payment cost by up to 5% for pilot customers in the U.S. Adyen’s AI selects the best routes with the best rates for transactions to help minimize total cost of payment. Pilot customers also experienced cost savings through Adyen’s optimizations, which tailored the shopper-facing checkout flow to their needs.
To learn more about Adyen Uplift, click here.
About Adyen
Adyen (ADYEN:AMS) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft. Adyen continuously improves and expands its product offering as part of its ordinary course of business. New products and features are announced via press releases and product updates on the company’s website.
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New logo reflects ability to power mission-critical decisions with confidence
LONDON, Jan. 9, 2025 /PRNewswire/ — Crisil Limited, a provider of ratings, data, research, analytics and solutions, today unveils its new brand logo.
The new brand identity, ‘Crisil’ (earlier written as CRISIL), reinforces the company’s position as a global, insights-driven analytics firm, building on a distinguished legacy of close to four decades.
Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncovering powerful insights and turning risks into opportunities globally. We are integral to multiplying their opportunities and success.
Says Amish Mehta, Managing Director & CEO, Crisil, “Our reimagined brand expresses a more progressive vision of our future. It celebrates a pioneering and illustrious past and showcases our commitment to deliver actionable insights to clients. Our people’s analytical rigour and domain expertise will continue to set standards and empower clients to make mission-critical decisions with confidence. The new brand identity guides us in shaping how we present ourselves to the world, influencing every interaction internally and externally to help us deliver exceptional client value.”
The strategic brand transformation positions Crisil’s businesses — Crisil Ratings, Crisil Intelligence (formerly MI&A), Crisil Coalition Greenwich, and Crisil Integral IQ (formerly GR&RS) — under a cohesive identity that offers a consistent and more connected experience for clients around the world.
Crisil Ratings: Offers independent credit ratings in India that empower informed decisions and objective benchmarking by lenders, investors and issuers.
Crisil Intelligence: Offers insights, consulting, technology-driven risk solutions and advanced data analytics, serving clients across government, private and public enterprises, empowering them to make informed decisions.
Crisil Coalition Greenwich: Offers strategic benchmarking, analytics and insights to the financial services industry and specialises in providing unique, high-value and actionable information to help clients measure and drive their business performance.
Crisil Integral IQ: Offers solutions and actionable intelligence to financial institutions around the globe to deliver strategic transformation, optimise risk and drive operational excellence.
The main logo in bold black is simple yet strong, symbolising excellence and the certainty that we deliver. Complementing this, our business logos now feature a distinct teal colour that conveys the confidence and trust rooted in rigour and domain expertise.
About Crisil Limited
Crisil is a global, insights-driven analytics company. Our extraordinary domain expertise and analytical rigour help clients make mission-critical decisions with confidence.
Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncovering powerful insights and turning risks into opportunities globally. We are integral to multiplying their opportunities and success.
Headquartered in India, Crisil is majority owned by S&P Global.
Founded in 1987 as India’s first credit rating agency, our expertise today extends across businesses: Crisil Ratings, Crisil Intelligence, Crisil Coalition Greenwich and Crisil Integral IQ.
Our globally diverse workforce operates in the Americas, Asia-Pacific, Europe, Australia and the Middle East, setting the standards by which industries are measured.
For more information, visit www.Crisil.com
Connect with us: LINKEDIN | TWITTER | YOUTUBE | FACEBOOK
Disclaimer
This press release is transmitted to you for the sole purpose of dissemination through your newspaper/ magazine/ agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Crisil. However, Crisil alone has the sole right of distribution of its press releases for consideration or otherwise through any media including websites, portals, etc.
Crisil has taken due care and caution in preparing this press release. Information has been obtained by Crisil from sources which it considers reliable. However, Crisil does not guarantee the accuracy, adequacy or completeness of information on which this press release is based and is not responsible for any errors or omissions or for the results obtained from the use of this press release. Crisil especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this press release.
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