$FUTU

Futu Holdings Ltd

CIK:0001754581|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 HKD ($) $ / shares shares	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2024 HKD ($) $ / shares shares	Dec. 31, 2023 HKD ($) $ / shares shares
Revenues
Brokerage commission and handling charge income	$ 10,572,744	$ 1,358,388	$ 6,044,746	$ 3,944,779
Interest income	10,441,585	1,341,537	6,666,864	5,536,422
Other income	1,832,569	235,449	878,515	527,217
Total revenues	22,846,898	2,935,374	13,590,125	10,008,418
Costs
Brokerage commission and handling charge expenses	(606,044)	(77,865)	(341,238)	(249,567)
Interest expenses	(1,757,852)	(225,849)	(1,617,450)	(910,759)
Processing and servicing costs	(578,459)	(74,321)	(486,783)	(375,904)
Total costs	(2,942,355)	(378,035)	(2,445,471)	(1,536,230)
Total gross profit	19,904,543	2,557,339	11,144,654	8,472,188
Operating expenses
Research and development expenses	(1,908,758)	(245,238)	(1,493,620)	(1,440,893)
Selling and marketing expenses	(1,980,486)	(254,453)	(1,409,313)	(710,348)
General and administrative expenses	(1,934,692)	(248,570)	(1,620,017)	(1,313,464)
Total operating expenses	(5,823,936)	(748,261)	(4,522,950)	(3,464,705)
Income from operations	14,080,607	1,809,078	6,621,704	5,007,483
Others, net	(367,448)	(47,210)	(86,372)	33,442
Income before income tax expenses and share of loss from equity method investments	13,713,159	1,761,868	6,535,332	5,040,925
Income tax expenses	(2,359,633)	(303,166)	(998,342)	(748,479)
Share of loss from equity method investments	(51,619)	(6,632)	(103,934)	(13,497)
Net income	11,301,907	1,452,070	5,433,056	4,278,949
Attributable to:
Ordinary shareholders of the Company	11,337,721	1,456,671	5,443,094	4,281,474
Non-controlling interests	(35,814)	(4,601)	(10,038)	(2,525)
Net income	11,301,907	1,452,070	5,433,056	4,278,949
Other comprehensive (loss)/income, net of tax
Changes in the fair value of financial assets	(474)	(61)
Foreign currency translation adjustment	301,624	38,754	(200,220)	(1,587)
Total comprehensive income	11,603,057	1,490,763	5,232,836	4,277,362
Attributable to:
Ordinary shareholders of the Company	11,639,140	1,495,400	5,242,611	4,279,887
Non-controlling interests	(36,083)	(4,637)	(9,775)	(2,525)
Total comprehensive income	$ 11,603,057	$ 1,490,763	$ 5,232,836	$ 4,277,362
Net income per share attributable to ordinary shareholders of the Company
Basic \| (per share)	$ 10.17	$ 1.31	$ 4.93	$ 3.88
Diluted \| (per share)	$ 10.03	$ 1.29	$ 4.86	$ 3.82
Weighted average number of ordinary shares used in computing net income per share
Basic	1,114,463,205	1,114,463,205	1,104,199,740	1,104,899,411
Diluted	1,130,846,701	1,130,846,701	1,120,478,183	1,119,653,571
ADS
Net income per share attributable to ordinary shareholders of the Company
Basic \| (per share)	$ 81.36	$ 10.45	$ 39.44	$ 31
Diluted \| (per share)	$ 80.24	$ 10.31	$ 38.88	$ 30.59

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 HKD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 HKD ($)	Dec. 31, 2023 HKD ($)
Cash flows from operating activities
Net income	$ 11,301,907	$ 1,452,070	$ 5,433,056	$ 4,278,949
Adjustments for:
Depreciation and amortization	72,313	9,291	69,917	60,849
Expected credit loss expenses	270,336	34,733	39,610	18,080
Share of loss from equity method investments	51,619	6,632	103,934	13,497
Foreign exchange (gains)/losses	(234,859)	(30,175)	150,416	(66,032)
Share-based compensation	343,024	44,072	334,926	290,831
Realized gain from investments	(78,464)	(10,081)	(99,856)	(68,323)
Unrealized (gains)/ losses from investments	(242,965)	(31,216)	81,440	(58,950)
Revaluation gain on previously held equity interest	(8,167)	(1,049)
Deferred income tax benefit	(78,992)	(10,149)	(17,975)	(14,769)
Amortization of right-of-use assets	150,674	19,359	105,588	110,357
Realized loss from disposal of property and equipment and intangible assets	13,174	1,693	31,094
Changes in operating assets:
Net (increase)/decrease in amounts due from related parties	54,420	6,992	(61,200)
Net increase in securities purchased under agreements to resell	(191,466)	(24,600)	(183,262)	(101,039)
Net increase in loans and advances	(13,929,429)	(1,789,656)	(17,206,444)	(5,852,341)
Net decrease/(increase) in accounts receivable from clients and brokers	(1,539,231)	(197,761)	(12,275,804)	945,661
Net (increase)/decrease in accounts receivable from clearing organizations	(2,245,409)	(288,491)	967,730	(1,177,840)
Net increase in accounts receivable from fund management companies and fund distributors	(786,614)	(101,064)	(1,058,781)	(72,605)
Net decrease/(increase) in interest receivable	(225,079)	(28,918)	(314,170)	9,737
Net (increase)/decrease in prepaid assets	8,594	1,104	(19,487)	(9,929)
Net increase in other assets	(1,062,992)	(136,574)	(941,275)	(287,513)
Changes in operating liabilities:
Net increase/(decrease) in amounts due to related parties	(11,939)	(1,534)	10,089	17,593
Net (decrease)/ increase in accounts payable to clients and brokers	44,853,871	5,762,836	51,666,332	(4,613,791)
Net (decrease)/ increase in accounts payable to clearing organizations	247,568	31,808	479,300	(27,771)
Net increase in accounts payable to fund management companies and fund distributors	769,229	98,831	331,501	84,774
Net increase in payroll and welfare payable	526,140	67,599	116,188	307,192
Net increase/(decrease) in interest payable	(34,970)	(4,493)	42,855	34,245
Net decrease in operating lease liabilities	(139,738)	(17,954)	(88,736)	(107,528)
Net increase in securities sold under agreements to repurchase	2,168,437	278,601	2,574,659
Net (decrease)/increase in other liabilities	767,141	98,562	724,678	(50,730)
Net cash (used in)/generated from operating activities	40,788,133	5,240,468	30,996,323	(6,337,396)
Cash flows from investing activities
Purchase of property and equipment and intangible assets	(54,732)	(7,033)	(167,521)	(77,763)
Purchase of short-term investments	(3,283,961)	(421,924)	(796,358)	(4,755,173)
Proceeds from disposal of short-term investments	1,454,962	186,934	1,509,471	2,417,221
Acquisition of long-term investments	(381,313)	(48,991)	(440,000)	(11,767)
Placement of term deposits				(29,282)
Maturity of term deposits	4,990	641		29,882
Cash (paid)/acquired for acquisitions, net of cash acquired	476,659	61,241	(1,660)	(17,536)
Net cash (used in)/ generated from investing activities	(1,783,395)	(229,132)	103,932	(2,444,418)
Cash flows from financing activities
Proceeds from exercise of employee share options	7,897	1,015	20,157	11,616
Purchase of treasury stocks				(874,692)
Dividends distribution	(2,151,038)	(276,366)
Proceeds from other borrowings	197,364,836	25,357,475	85,513,998	79,581,200
Repayment of other borrowings	(190,924,915)	(24,530,073)	(85,463,304)	(76,410,167)
Net cash generated from financing activities	4,296,780	552,051	70,851	2,307,957
Effect of exchange rate changes on cash, cash equivalents and restricted cash	235,916	30,311	(149,866)	66,352
Net (decrease)/ increase in cash, cash equivalents and restricted cash	43,537,434	5,593,698	31,021,240	(6,407,505)
Cash, cash equivalents and restricted cash at beginning of the year	80,329,320	10,320,727	49,308,080	55,715,585
Cash, cash equivalents and restricted cash at end of the year	123,866,754	15,914,425	80,329,320	49,308,080
Cash, cash equivalents and restricted cash
Cash and cash equivalents	10,465,888		11,688,383	4,937,538
Cash held on behalf of clients	113,398,356		68,639,816	44,369,310
Restricted cash	2,510		1,121	1,232
Cash, cash equivalents and restricted cash at end of the year	123,866,754		80,329,320	49,308,080
Supplemental disclosure
Interest paid	(1,792,822)	(230,342)	(1,574,595)	(876,514)
Income tax paid	(1,646,304)	(211,517)	(761,907)	(698,821)
Cash paid for amounts include in operating lease liabilities	$ (185,237)	$ (23,799)	$ (138,875)	$ (128,160)

CONSOLIDATED BALANCE SHEETS $ in Thousands, $ in Thousands	Dec. 31, 2025 HKD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 HKD ($)
ASSETS
Cash and cash equivalents	$ 10,465,888	$ 1,344,659	$ 11,688,383
Cash held on behalf of clients	113,398,356	14,569,444	68,639,816
Restricted cash	2,510	322	1,121
Term deposit			4,990
Short-term investments	6,688,871	859,388	2,411,074
Securities purchased under agreements to resell	507,767	65,238	316,301
Loans and advances - current (net of allowance of HK$85,252 thousand and HK$374,604 thousand as of December 31, 2024 and 2025, respectively)	64,607,370	8,300,768	49,695,691
Receivables:
Clients	838,521	107,733	534,077
Brokers	18,459,373	2,371,664	17,224,387
Clearing organizations	5,522,472	709,529	3,277,063
Fund management companies and fund distributors	1,997,086	256,586	1,210,472
Interest	852,186	109,489	597,483
Amounts due from related parties	$ 6,780	$ 871	$ 61,200
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]	Related Party [Member]
Prepaid assets	$ 77,960	$ 10,016	$ 63,497
Other current assets	225,478	28,969	160,330
Total current assets	223,650,618	28,734,676	155,885,885
Operating lease right-of-use assets	569,939	73,226	253,212
Long-term investments	615,220	79,044	573,190
Loans and advances - non-current	139,668	17,945	18,805
Other non-current assets	3,461,431	444,726	2,025,841
Total non-current assets	4,786,258	614,941	2,871,048
Total assets	228,436,876	29,349,617	158,756,933
LIABILITIES
Amounts due to related parties	$ 67,143	$ 8,627	$ 79,090
Other Liability, Related Party, Type [Extensible Enumeration]	Related Party [Member]	Related Party [Member]	Related Party [Member]
Payables:
Clients	$ 125,249,957	$ 16,092,141	$ 72,379,135
Brokers	38,678,396	4,969,408	43,697,746
Clearing organizations	750,964	96,484	503,396
Fund management companies and fund distributors	1,277,467	164,129	507,076
Interest	62,527	8,033	86,964
Borrowings	12,143,237	1,560,166	5,702,259
Securities sold under agreements to repurchase	4,743,096	609,394	2,574,659
Lease liabilities - current	200,089	25,707	144,357
Accrued expenses and other current liabilities	4,527,129	581,646	4,936,805
Total current liabilities	187,700,005	24,115,735	130,611,487
Lease liabilities - non-current	393,843	50,603	132,924
Other non-current liabilities	21,906	2,816	8,061
Total non-current liabilities	415,749	53,419	140,985
Total liabilities	188,115,754	24,169,154	130,752,472
Commitments and Contingencies (Note 26)
SHAREHOLDERS' EQUITY
Additional paid-in capital	19,158,175	2,461,446	18,807,369
Treasury stock (144,498,392 and 144,498,392 shares as of December 31, 2024 and 2025, respectively)	(5,199,257)	(668,002)	(5,199,257)
Accumulated other comprehensive (loss)/income	51,503	6,617	(249,916)
Retained earnings	25,990,667	3,339,285	14,652,946
Total shareholders' equity	40,001,188	5,139,358	28,011,241
Non-controlling interests	319,934	41,105	(6,780)
Total equity	40,321,122	5,180,463	28,004,461
Total liabilities and equity	228,436,876	29,349,617	158,756,933
Class A ordinary shares
SHAREHOLDERS' EQUITY
Ordinary shares	73	9	72
Class B ordinary shares
SHAREHOLDERS' EQUITY
Ordinary shares	$ 27	$ 3	$ 27