Quarterly ResultMay 28, 2026, 06:12 AM
Futu Q1 Net Income Plunges 61.2% to HK$831M Amid HK$1.85B Penalty
AI Summary
Futu Holdings Limited announced its unaudited financial results for the first quarter ended March 31, 2026, reporting a 61.2% year-over-year decrease in net income to HK$831.0 million, primarily due to an RMB1.85 billion (HK$2.133 billion) administrative penalty from the China Securities Regulatory Commission. Despite this, total revenues increased 24.7% to HK$5,856.0 million, driven by strong operational growth including a 34.3% rise in funded accounts to 3.6 million and a 47.2% increase in total client assets to HK$1.22 trillion. The company also noted a 29.1% increase in total trading volume and continued progress in international markets, including its virtual asset exchange receiving a license.
Key Highlights
- Futu received an Administrative Penalty Pre-Notification Letter from CSRC for RMB1.85 billion (HK$2.133 billion).
- Net income decreased 61.2% year-over-year to HK$831.0 million (US$106.0 million) due to the penalty.
- Total revenues increased 24.7% year-over-year to HK$5,856.0 million (US$746.9 million).
- Total funded accounts grew 34.3% year-over-year to 3,590,325 as of March 31, 2026.
- Total client assets increased 47.2% year-over-year to HK$1.22 trillion.
- Total trading volume rose 29.1% year-over-year to HK$4.15 trillion.
- The company repurchased approximately US$418 million worth of ADSs under its US$800 million program.
- PantherTrade, Futu's virtual asset exchange, received its VATP license from the Hong Kong SFC.
- Without the penalty, net income would have been HK$2,922.0 million (US$372.7 million).
Price Impact
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