Moomoo Parent Futu Announces Investment Grade Rating Reaffirmed by S&P Global Ratings

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PALO ALTO, Calif., July 28, 2022 /PRNewswire/ — Moomoo’s parent company, Futu Holdings Limited (Nasdaq: FUTU, “Futu”), a technology-driven online brokerage and wealth management platform, announced that its credit rating at term “BBB-” has been reaffirmed with a stable outlook by the main global rating agency Standard & Poor’s (S&P). Meanwhile, S&P also maintained Futu’s “bbb” GCP (group credit profile) rating.

Last year, Futu was assigned a long-term issuer credit rating of BBB- by S&P, marking the first hong kong brokerage to independently receive a BBB- rating from S&P.

As one of the three major global rating agencies, S&P offers forward-looking third-party opinions of a company’s relative creditworthiness, ranging from AAA to D. Companies rated BBB- or higher by S&P are considered investment-grade companies. order and are expected to have adequate capacity to meet financial commitments and relatively low credit risk.

In its recent report, S&P highlighted Futu’s very strong capitalization, adequate risk controls and international market expansion strategy, and expects Futu to maintain risk appetite, underwriting and good loan quality while expanding business scope and international reach over the next 24 years. month.

S&P also highlighted Futu’s satisfying share of around 3% of the that of Hong Kong fragmented brokerage market, and its improvements on the diversification of its product offerings and geographic reach. S&P believes Futu has begun to diversify its funding structure and sources of liquidity in recent years.

S&P commented in the report that internationalization will be Futu’s main strategy over the next two to three years as the company seeks to expand its presence in Hong Kong SAR, USA, Singapore, Australia and potentially other new markets. By the end of the first quarter, Futu registered more than 80% of its newly acquired paying customers from Hong Kong SAR, United States, Singapore and other international markets in the first quarter of this year.

Having established its presence in hong kong in 2012, Futu led the way in the local brokerage industry for almost ten years and its Futubull app is now a household name in hong kong. Futu is registered hong kong the number of users accounted for about one-third hong kong adult population.

Since July 2020Futu had become the first retail brokerage firm included in the Tier A exchange participants by the Hong Kong Stock Exchange, ranking among the top 14 brokerages along with other leading global investment banks, in terms of market share in hong kong.

Ever since Futu debuted in Singapore last year, its flagship app moomoo quickly became a tech brokerage platform recognized by local investors. From June 2022the number of Futu Singapore users accounted for more than 20% of that of Singapore population aged 20 to 70. June 2022, Moomoo Financial Singapore Pte. Ltd has officially become the first digital brokerage to receive full Singapore Exchange memberships, cementing its leading position in the industry.

In the US market, moomoo continues to attract interest from traders looking for better tools to trade like a pro. With strong technology backing, moomoo offers investors a seamless trading experience, timely financial information, and powerful investment analysis tools that were previously only available to institutional investors.

Moomoo also announced its official launch in Australia in March 2022providing access to trading US-listed stocks and ETFs and Australia to Australian investors. Moomoo is rapidly expanding its presence in Australia sharing investment knowledge and market information at financial forums and events, putting responsible investing into practice.

Apart from the brokerage activity, Futu is refining the contours of its product diversification. In terms of enterprise services business, Futu had 258 IPO and IR customers as well as 459 ESOP customers at the end of the first quarter, up 69.7% and 129.5% year-on-year, respectively.

Additionally, Futu Money Plus has partnered with 64 world-famous financial institutions to offer wealth management services, including five new partners – Wellington Investment, Fullerton Fund Management, Lion Global Investors, Nikko Asset Management and UOB Asset Management in the first trimester. According to its first quarter earnings report, the total amount of customer assets reached HK$20.9 billion ($2.7 billion), an increase of 59.1% year-on-year.

About Futu Holdings Limited

Futu Holdings Limited (Nasdaq: FUTU) is a cutting-edge technology company transforming the investment experience by offering a fully digitized brokerage and wealth management platform. The company primarily serves the emerging affluent population, seeking a huge opportunity to facilitate a unique shift in the wealth management industry and create a digital gateway to broader financial services. The Company provides investment services through its proprietary digital platforms, futubull and moomoo, each of which is a highly integrated application accessible via any mobile device, tablet or desktop computer. The Company’s main fee-generating services include trade execution – which allows its clients to trade securities, such as stocks, ETFs, warrants, options and futures on various markets – as well as margin financing and securities lending. Futu has also integrated social media tools to create a user-centric network and provide connectivity to users, investors, companies, analysts, media and key opinion leaders.

About moomoo

Moomoo is a next-generation one-stop digital financial services platform created by Moomoo Technologies Inc., a Palo Alto-based fintech company, California.

Moomoo integrates trading, market data, social media with advanced features, such as AI-powered analytics and anomaly detection. It supports free online account opening and provides access to trading stocks and ETFs on several global markets such as the United States, Hong Kong SAR, Singapore and Australia. Moomoo and its affiliated brands also offer rich educational content for investors and an interactive online community with 18 million users in more than 200 countries around the world.

Moomoo’s parent company is Nasdaq-listed financial technology company Futu Holdings Limited (“Futu”), headquartered in Hong Kong. Futu’s subsidiary is also one of Hong Kong’s largest brokerage houses. On March 8, 2019, Futu was listed on Nasdaq (symbol: FUTU).

For more information, please visit moomoo official website at www.moomoo.com.

SOURCEmoomoo Inc.

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