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6-K 1 tm2615605d1_6k.htm FORM 6-K

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of May 2026

 

 

 

Commission File Number: 001-38820

 

 

 

Futu Holdings Limited

 

34/F, United Centre

95 Queensway, Admiralty

Hong Kong S.A.R., People’s Republic of China

+852 2523-3588

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F  x                               Form 40-F  ¨

 

 

 

 


 

EXHIBIT INDEX

 

Exhibit No.   Description
     
99.1   Press Release - Futu Announces First Quarter 2026 Unaudited Financial Results

 

 


 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  FUTU HOLDINGS LIMITED
       
  By : /s/ Leaf Hua Li
  Name : Leaf Hua Li
  Title : Chairman of the Board of Directors and Chief Executive Officer

 

Date: May 28, 2026

 

 

 

EX-99.1 2 tm2615605d1_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

Futu Announces First Quarter 2026 Unaudited Financial Results

 

HONG KONG, May 28, 2026 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced its unaudited financial results for the first quarter ended March 31, 2026.

 

First Quarter 2026 Operational Highlights

 

· Total number of funded accounts1 increased 34.3% year-over-year to 3,590,325 as of March 31, 2026.
· Total number of brokerage accounts2 increased 26.8% year-over-year to 6,284,404 as of March 31, 2026.
· Total number of users3 increased 14.9% year-over-year to 30.2 million as of March 31, 2026.
· Total client assets increased 47.2% year-over-year to HK$1.22 trillion as of March 31, 2026.
· Daily average client assets were HK$1.27 trillion in the first quarter of 2026, an increase of 60.8% from the same period in 2025.
· Total trading volume in the first quarter of 2026 increased by 29.1% year-over-year to HK$4.15 trillion, in which trading volume for U.S. stocks was HK$3.00 trillion, and trading volume for Hong Kong stocks was HK$1.01 trillion.
· Margin financing and securities lending balance increased 44.9% year-over-year to HK$72.9 billion as of March 31, 2026.

 

First Quarter 2026 Financial Highlights

 

· Total revenues increased 24.7% year-over-year to HK$5,856.0 million (US$746.9 million).
· Total gross profit increased 29.4% year-over-year to HK$5,106.7 million (US$651.4 million).
· Net income decreased 61.2% year-over-year to HK$831.0 million (US$106.0 million).
· Non-GAAP adjusted net income4 decreased 58.5% year-over-year to HK$919.5 million (US$117.3 million).

 

Mr. Leaf Hua Li, Futu’s Chairman and Chief Executive Officer, said, “In the first quarter, we added 225 thousand net new funded accounts, bringing total funded accounts to 3.6 million, up 34.3% year-over-year. Despite market volatility during the quarter, we continue to track toward our full-year guidance of 800 thousand net new funded accounts with confidence. Net new funded account growth was driven by broad-based strength across all markets despite market turbulence.”

 

“Net asset inflow accelerated meaningfully primarily driven by our high-quality client base in Hong Kong and Singapore. Total client assets were HK$1.22 trillion as of quarter end, up 47.2% year-over-year and largely stable quarter-over-quarter, as robust inflow was offset by mark-to-market pressure on clients’ Hong Kong and U.S. equity holdings. Margin financing and securities lending balance rose 7.7% quarter-over-quarter to HK$72.9 billion, reflecting elevated client appetite to add exposure amid market pullbacks.”

 

 

1 The number of funded accounts refers to the number of brokerage accounts with Futu that have a positive account balance. Multiple funded accounts by one client are counted as one funded account.

2 Multiple brokerage accounts by one client are counted as one brokerage account.

3 The number of users refers to the number of user accounts registered with Futu.

4 Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses.

 

 


 

“Total trading volume climbed to a record HK$4.15 trillion, up 29.1% year-over-year and 4.4% quarter-over-quarter, as a rotation in client activity toward Hong Kong equities more than offset softer U.S. stock trading volumes. Hong Kong stock trading volume grew 22.5% quarter-over-quarter to HK$1.0 trillion, driven by continued momentum in China internet, semiconductor and newly listed AI stocks. U.S. stock trading volume was largely stable sequentially at HK$3.00 trillion, with technology stocks remaining key areas of client interest.”

 

“Total client assets in wealth management increased 28.2% year-over-year and largely stable quarter-over-quarter to HK$178.4 billion. During the first quarter, we continued to broaden our product offerings to address evolving client needs. In Hong Kong, we added a space economy-themed mutual fund to our platform and expanded structured product offerings; in Japan, we partnered with Asahi Life to offer an award-winning global equity fund; and in Singapore, we added fund products under the Equity Market Development Programme to broaden clients’ access to local equity exposure.”

 

“As of quarter end, we have cumulatively served 625 IPO distribution and IR clients, up 25.5% year-over-year. During the first quarter, we provided IPO distribution services to a number of prominent Hong Kong listings, including MiniMax, Busy Ming, and Biren Technology.”

 

“In March, our wholly owned virtual asset exchange, PantherTrade, received its VATP license from the Hong Kong SFC to commence full-scale licensed operations, further enriching the Futu ecosystem with a broader spectrum of services and delivering a more seamless, integrated investment experience for our clients.”

 

Mr. Arthur Yu Chen, Futu’s Chief Financial Officer, added, “On May 22, 2026, the Company received an Administrative Penalty Pre-Notification Letter from the China Securities Regulatory Commission Shenzhen Bureau in an aggregate amount of approximately RMB1.85 billion, which has been fully reflected in our first quarter financial statements as an adjusted subsequent event under U.S. GAAP. This amount does not impact our business fundamentals or financial stability. We remain focused on long-term growth across international markets.”

 

First Quarter 2026 Financial Results

 

Revenues

 

Total revenues were HK$5,856.0 million (US$746.9 million), an increase of 24.7% from HK$4,694.6 million in the first quarter of 2025.

 

Brokerage commission and handling charge income was HK$2,641.4 million (US$336.9 million), an increase of 14.3% from the first quarter of 2025. This was mainly due to higher trading volume, partially offset by a decline in blended commission rate.

 

Interest income was HK$2,650.2 million (US$338.0 million), an increase of 28.0% from the first quarter of 2025. The increase was mainly driven by higher interest income from margin financing, bank deposit and securities borrowing and lending business.

 

Other income was HK$564.3 million (US$72.0 million), an increase of 79.8% from the first quarter of 2025. The increase was primarily attributable to higher currency exchange income, IPO financing service income and fund distribution service income.

 

Costs

 

Total costs were HK$749.3 million (US$95.6 million), largely stable compared to HK$749.0 million in the first quarter of 2025.

 

 


 

Brokerage commission and handling charge expenses were HK$164.5 million (US$21.0 million), an increase of 14.6% from the first quarter of 2025. This increase was roughly in line with the growth of our brokerage commission and handling charge income.

 

Interest expenses were HK$414.7 million (US$52.9 million), a decrease of 11.6% from the first quarter of 2025. The decrease was primarily due to lower expenses associated with our securities borrowing and lending business.

 

Processing and servicing costs were HK$170.1 million (US$21.7 million), an increase of 25.0% from the first quarter of 2025. The increase was primarily due to increasing cloud service fees.

 

Gross Profit

 

Total gross profit was HK$5,106.7 million (US$651.4 million), an increase of 29.4% from HK$3,945.7 million in the first quarter of 2025. Gross margin was 87.2%, as compared to 84.0% in the first quarter of 2025.

 

Operating Expenses

 

Total operating expenses were HK$1,576.5 million (US$201.1 million), an increase of 25.1% from HK$1,260.4 million in the first quarter of 2025.

 

Research and development expenses were HK$478.9 million (US$61.1 million), an increase of 24.1% from the first quarter of 2025. This was primarily due to an increase in research and development headcount to support strategic initiatives and new markets.

 

Selling and marketing expenses were HK$556.8 million (US$71.0 million), an increase of 21.3% from HK$459.2 million in the first quarter of 2025. This was driven by the increase of new funded accounts.

 

General and administrative expenses were HK$540.9 million (US$69.0 million), an increase of 30.3% from the first quarter of 2025. The increase was primarily due to an increase in general and administrative personnel to support business development.

 

Income from Operations

 

Income from operations increased by 31.5% to HK$3,530.2 million (US$450.3 million) from HK$2,685.3 million in the first quarter of 2025. Operating margin increased to 60.3% from 57.2% in the first quarter of 2025 mainly due to strong topline growth and operating leverage.

 

Net Income

 

Net income decreased by 61.2% to HK$831.0 million (US$106.0 million) from HK$2,142.7 million in the first quarter of 2025. Net income margin for the first quarter of 2026 decreased to 14.2% from 45.6% in the year-ago quarter.

 

Non-GAAP adjusted net income decreased by 58.5% to HK$919.5 million (US$117.3 million) from the first quarter of 2025. Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses. For further information, see "Use of Non-GAAP Financial Measures" at the bottom of this press release.

 

 


 

Net Income per ADS

 

Basic net income per American Depositary Share (“ADS”) was HK$6.08 (US$0.78), compared with HK$15.44 in the first quarter of 2025. Diluted net income per ADS was HK$6.00 (US$0.77), compared with HK$15.28 in the first quarter of 2025. Each ADS represents eight Class A ordinary shares.

 

Recent Development

 

As previously announced, on May 22, 2026, the Company received a Notice of Investigation and an Administrative Penalty Pre-Notification Letter (the "Pre-Notification Letter") from the China Securities Regulatory Commission and its Shenzhen Bureau (collectively, the “CSRC”). The Pre-Notification Letter proposed penalties on the relevant Futu entities in mainland China and Hong Kong for conducting certain regulated business activities without the requisite licenses or approvals. The proposed penalties comprise (i) confiscation of illegal gains of approximately RMB470 million, and (ii) imposition of fines of approximately RMB1.38 billion, in an aggregate amount of approximately RMB1.85 billion. The unaudited financial statements for the three months ended March 31, 2026 included in this earnings release have reflected the impact of this subsequent event. These amounts were included in “Others, net” of the unaudited condensed consolidated statements of comprehensive income for the three months ended March 31, 2026.

 

Prior to giving effect to this adjustment, the Company’s net income for the three months ended March 31, 2026 were approximately HK$2,922.0 million (US$372.7 million), and non-GAAP adjusted net income was approximately HK$3,010.6 million (US$384.0 million). These amounts exclude the accounting impact of the subsequent event described above, which has been reflected in the unaudited financial statements included in this earnings release. The proposed penalty remains subject to further proceedings and the final determination by the CSRC. The Company is entitled to submit statements, present defenses, and request a hearing. The Company will fully cooperate with the CSRC and exercise its lawful rights to safeguard the legitimate interests of the Company and its shareholders.

 

Share Repurchase Program

 

On November 18, 2025, our board of directors authorized a share repurchase program under which the Company may repurchase up to US$800 million worth of ADSs for a period ending December 31, 2027. As of the close of the U.S. market on May 27, 2026, we have repurchased approximately US$418 million worth of ADSs in open market transactions in accordance with the authorization under this share repurchase program. Subject to market conditions, the Company may continue to execute repurchases from time to time under this share repurchase program.

 

Conference Call and Webcast

 

Futu's management will hold an earnings conference call on Thursday, May 28, 2026, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time).

 

Please note that all participants will need to pre-register for the conference call, using the link

 

https://register-conf.media-server.com/register/BIec7483756a8d4ef789028b4abb4be479

 

It will automatically lead to the registration page of "Futu Holdings Ltd First Quarter 2026 Earnings Conference Call", where details for RSVP are needed.

 

Upon registering, all participants will be provided in confirmation emails with participant dial-in numbers and personal PINs to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.

 

Additionally, a live and archived webcast of this conference call will be available at https://ir.futuholdings.com/.

 

About Futu Holdings Limited

 

Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering fully digitalized financial services. Through its proprietary digital platforms, Futubull and Moomoo, the Company provides a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management. The Company has embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. The Company also provides corporate services, including IPO distribution, investor relations and ESOP solution services.

 

Use of Non-GAAP Financial Measures

 

In evaluating the business, the Company considers and uses non-GAAP adjusted net income, a non-GAAP measure, as a supplemental measure to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines non-GAAP adjusted net income as net income excluding share-based compensation expenses. The Company presents the non-GAAP financial measure because it is used by the management to evaluate the operating performance and formulate business plans. Non-GAAP adjusted net income enables the management to assess the Company's operating results without considering the impact of share-based compensation expenses, which are non-cash charges. The Company also believes that the use of the non-GAAP measure facilitates investors' assessment of its operating performance.

 

 


 

Non-GAAP adjusted net income is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using non-GAAP adjusted net income is that it does not reflect all items of expense that affect the Company's operations. Share-based compensation expenses have been and may continue to be incurred in the business and is not reflected in the presentation of non-GAAP adjusted net income. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

 

The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company's performance.

 

For more information on this non-GAAP financial measure, please see the table captioned "Unaudited Reconciliations of Non-GAAP and GAAP Results" set forth at the end of this press release.

 

Exchange Rate Information

 

This announcement contains translations of certain HK dollars ("HK$") amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from HK$ to US$ were made at the rate of HK$7.8400 to US$1.00, the noon buying rate in effect on March 31, 2026 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the HK$ or US$ amounts referred could be converted into US$ or HK$, as the case may be, at any particular rate or at all.

 

Safe Harbor Statement

 

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from the management team of the Company, contain forward-looking statements. Futu may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Futu's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Futu's goal and strategies; Futu's expansion plans; Futu's future business development, financial condition and results of operations; Futu's expectations regarding demand for, and market acceptance of, its credit products; Futu's expectations regarding keeping and strengthening its relationships with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Futu's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

 

For investor inquiries, please contact:

 

Investor Relations

Futu Holdings Limited

ir@futuholdings.com

 

 


 

FUTU HOLDINGS LIMITED

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

 

(In thousands, except for share and per share data)

 

    As of December 31,     As of March 31,  
    2025     2026     2026  
    HK$     HK$     US$  
ASSETS                        
Cash and cash equivalents     10,465,888       16,485,774       2,102,777  
Cash held on behalf of clients     113,398,356       114,781,186       14,640,460  
Restricted cash     2,510       4,008       511  
Term deposit     -       106,405       13,572  
Short-term investments     6,688,871       6,517,535       831,318  
Securities purchased under agreements to resell     507,767       535,986       68,366  
Loans and advances-current (net of allowance of HK$374,604 thousand and HK$441,152 thousand as of December 31, 2025 and March 31, 2026, respectively)     64,607,370       73,685,339       9,398,640  
Receivables:                        
Clients     838,521       758,288       96,720  
Brokers     18,459,373       18,688,930       2,383,792  
Clearing organizations     5,522,472       6,204,482       791,388  
Fund management companies and fund distributors     1,997,086       1,655,735       211,191  
Interest     852,186       918,083       117,102  
Amounts due from related parties     6,780       2,079       265  
Prepaid assets     77,960       140,665       17,942  
Other current assets     225,478       366,894       46,798  
Total current assets     223,650,618       240,851,389       30,720,842  
                         
Operating lease right-of-use assets     569,939       570,293       72,741  
Long-term investments     615,220       657,609       83,879  
Loans and advances-non-current     139,668       106,618       13,599  
Other non-current assets     3,461,431       4,130,762       526,882  
Total non-current assets     4,786,258       5,465,282       697,101  
Total assets     228,436,876       246,316,671       31,417,943  

 

1


 

FUTU HOLDINGS LIMITED

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)

 

(In thousands, except for share and per share data)

 

    As of December 31,     As of March 31,  
    2025     2026     2026  
    HK$     HK$     US$  
LIABILITIES                        
Amounts due to related parties     67,143       106,074       13,530  
Payables:                        
Clients     125,249,957       126,826,924       16,176,904  
Brokers     38,678,396       44,453,958       5,670,148  
Clearing organizations     750,964       2,527,818       322,426  
Fund management companies and fund distributors     1,277,467       1,458,619       186,048  
Interest     62,527       72,507       9,248  
Borrowings     12,143,237       15,708,151       2,003,591  
Securities sold under agreements to repurchase     4,743,096       6,198,116       790,576  
Lease liabilities-current     200,089       204,915       26,137  
Accrued expenses and other current liabilities     4,527,129       6,839,824       872,425  
Total current liabilities     187,700,005       204,396,906       26,071,033  
                         
Lease liabilities-non-current     393,843       395,629       50,463  
Other non-current liabilities     21,906       34,070       4,346  
Total non-current liabilities     415,749       429,699       54,809  
Total liabilities     188,115,754       204,826,605       26,125,842  
                         
SHAREHOLDERS’ EQUITY                        
Class A ordinary shares     73       61       8  
Class B ordinary shares     27       27       3  
Additional paid-in capital     19,158,175       14,048,566       1,791,909  
Treasury Stock     (5,199,257 )     -       -  
Accumulated other comprehensive income     51,503       303,508       38,713  
Retained earnings     25,990,667       26,841,217       3,423,624  
Total shareholders' equity     40,001,188       41,193,379       5,254,257  
                         
Non-controlling interests     319,934       296,687       37,844  
Total equity     40,321,122       41,490,066       5,292,101  
Total liabilities and equity     228,436,876       246,316,671       31,417,943  

 

2


 

FUTU HOLDINGS LIMITED

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

 

(In thousands, except for share and per share data)

 

    For the Three Months Ended  
    March 31,
2025
    March 31,
2026
    March 31,
2026
 
    HK$     HK$     US$  
Revenues                        
Brokerage commission and handling charge income     2,310,220       2,641,434       336,918  
Interest income     2,070,469       2,650,234       338,040  
Other income     313,948       564,322       71,980  
Total revenues     4,694,637       5,855,990       746,938  
Costs                        
Brokerage commission and handling charge expenses     (143,505 )     (164,474 )     (20,979 )
Interest expenses     (469,333 )     (414,687 )     (52,894 )
Processing and servicing costs     (136,115 )     (170,120 )     (21,699 )
Total costs     (748,953 )     (749,281 )     (95,572 )
Total gross profit     3,945,684       5,106,709       651,366  
                         
Operating expenses                        
Research and development expenses     (385,979 )     (478,880 )     (61,082 )
Selling and marketing expenses     (459,202 )     (556,751 )     (71,014 )
General and administrative expenses     (415,245 )     (540,917 )     (68,995 )
Total operating expenses     (1,260,426 )     (1,576,548 )     (201,091 )
                         
Income from Operations     2,685,258       3,530,161       450,275  
                         
Others, net     (20,598 )     (2,133,424 )     (272,120 )
                         
Income before income tax expense and share of (loss)/gain from equity method investments     2,664,660       1,396,737       178,155  
                         
Income tax expense     (490,959 )     (606,984 )     (77,421 )
Share of (loss)/gain from equity method investments     (30,997 )     41,232       5,259  
                         
Net income     2,142,704       830,985       105,993  
                         
Attributable to:                        
Ordinary shareholders of the Company     2,145,323       850,550       108,489  
Non-controlling interests     (2,619 )     (19,565 )     (2,496 )
      2,142,704       830,985       105,993  

 

3


 

FUTU HOLDINGS LIMITED

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Continued)

 

(In thousands, except for share and per share data)

 

    For the Three Months Ended  
    March 31,
2025
    March 31,
2026
    March 31,
2026
 
    HK$     HK$     US$  
Net income per share attributable to ordinary shareholders of the Company                        
Basic     1.93       0.76       0.10  
Diluted     1.91       0.75       0.10  
                         
Net income per ADS                        
Basic     15.44       6.08       0.78  
Diluted     15.28       6.00       0.77  
                         
Weighted average number of ordinary shares used in computing net income per share                        
Basic     1,113,426,758       1,121,453,268       1,121,453,268  
Diluted     1,126,352,076       1,133,330,016       1,133,330,016  
                         
Net income     2,142,704       830,985       105,993  
Other comprehensive income/(loss), net of tax                        
Changes in the fair value of financial assets     -       (12,158 )     (1,551 )
Foreign currency translation adjustment     65,215       260,481       33,225  
Total comprehensive income     2,207,919       1,079,308       137,667  
                         
Attributable to:                        
Ordinary shareholders of the Company     2,210,552       1,102,555       140,633  
Non-controlling interests     (2,633 )     (23,247 )     (2,966 )
      2,207,919       1,079,308       137,667  

 

4


 

FUTU HOLDINGS LIMITED

 

UNAUDITED RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS

 

(In thousands)

 

    For the Three Months Ended  
    March 31,
2025
    March 31,
2026
    March 31,
2026
 
    HK$     HK$     US$  
Net income     2,142,704       830,985       105,993  
Add: Share-based compensation expenses     74,199       88,546       11,294  
Adjusted net income     2,216,903       919,531       117,287  

 

Non-GAAP to GAAP reconciling items have no income tax effect.

 

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