Futu Q1 Revenues Jump 24.7% to HK$5.856 B, Net Income Slumps 61.2%

FUTU•2026-05-28

Futu’s Q1 revenues rose 24.7% year-over-year to HK$5.856 billion while net income fell 61.2% to HK$831 million, reflecting a RMB1.85 billion regulatory penalty. Total funded accounts climbed 34.3% to 3.59 million and client assets rose 47.2% to HK$1.22 trillion.

1. Operational Highlights

In the first quarter, Futu added 225,000 net new funded accounts, driving a 34.3% year-over-year increase to 3.59 million, while brokerage accounts rose 26.8% to 6.28 million and total users reached 30.2 million. Client assets expanded 47.2% to HK$1.22 trillion with daily average assets of HK$1.27 trillion, and total trading volume climbed 29.1% to HK$4.15 trillion, including HK$3.00 trillion in U.S. stocks and HK$1.01 trillion in Hong Kong stocks.

2. Financial Performance

First-quarter revenues grew 24.7% year-over-year to HK$5.856 billion, supporting a 29.4% rise in gross profit to HK$5.107 billion. However, net income declined 61.2% to HK$831 million and non-GAAP adjusted net income fell 58.5% to HK$919.5 million, primarily due to an RMB1.85 billion administrative penalty.

3. Regulatory and Licensing Developments

In May, Futu received a pre-notification of an approximately RMB1.85 billion administrative penalty from the China Securities Regulatory Commission Shenzhen Bureau, fully reflected in Q1 results under U.S. GAAP. The company also secured a VATP license for PantherTrade, its virtual asset exchange, enabling full-scale licensed operations in Hong Kong.

4. Strategic Outlook and Product Expansion

Futu reaffirmed its full-year target of 800,000 net new funded accounts, citing robust net asset inflows in Hong Kong and Singapore. During Q1, it expanded wealth management offerings with a space economy-themed mutual fund in Hong Kong, a global equity fund partnership in Japan, and new funds under Singapore’s Equity Market Development Programme.