For the 4QFY2022 ended Dec 31, 2022, Moomoo Singapore reported a user base of over 25% of the country’s local adult population.
The digital brokerage also saw its client’s assets under management (AUM) increase by 45.4% y-o-y during the period.
Moomoo’s asset balance in Singapore also grew by 64.2% q-o-q with the number of fund investors up by 75.1% q-o-q after it launched private investment funds and its fund portfolio rebalancing services in the 4QFY2022.
During the quarter, Moomoo’s parent company, Nasdaq-listed Futu Holdings reported total revenues of HK$2.28 billion (US$292.3 million or $385.9 million), up 42.3% y-o-y.
Its total gross profit rose by 39.9% y-o-y to HK$1.94 billion.
Net income was up by 92.2% y-o-y to HK$958.7 million while non-generally accepted accounting principles (GAAP) adjusted net income was up by 90.2% y-o-y to HK$1.01 billion.
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In FY2022, Futu’s total revenues grew by 7.0% y-o-y to HK$7.61 billion.
Total gross profit rose by 12.0% y-o-y to HK$6.62 billion.
Net income increased by 4.2% y-o-y to HK$2.93 billion.
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Non-GAAP adjusted net income increased by 7.6% y-o-y to HK$3.13 billion.
“We added over 240 thousand paying clients in 2022, bringing total paying clients to around 1.5 million. In Singapore, client acquisition was resilient as interest in fixed income fund products remained elevated,” says Leaf Hua Li, Futu’s founder and chairman. Li is also the CEO and chairman of Futu’s technology committee.
“During the period, we focused on long-term globalisation plans and sharpened our product and service offerings to meet various demands from investors of all kinds. The financial results for the fourth quarter reflect stable business operation and momentum in our wealth management business and corporate services,” he adds.
On Moomoo Singapore’s “impressive performance and growth”, Gavin Chia, Moomoo’s managing director, said that the fourth quarter demonstrated the company’s commitment to the evolving investment needs of local investors.
“Despite the current global inflationary and geopolitical challenges, we are heartened to see so many Singapore investors work towards their financial goals by leveraging products that suit their risk appetites. Our parent company has a fortress balance sheet and Moomoo Singapore is well-positioned to execute our growth plan and product roadmap,” says Chia.
“As we look ahead to 2023, with a commitment to leading the charge in technology and innovation, we will continue to satisfy the diverse preferences of local investors by enhancing and expanding our offering,” he adds.
