Futu Holdings faces a proposed penalty of roughly RMB1.85 billion from the CSRC Shenzhen Bureau, including about RMB470 million in confiscated gains and RMB1.38 billion in fines, tied to regulated activities without required licenses or approvals. The charge caused first-quarter net income to fall 61.2% to HK$831 million, though before the adjustment net income would have been about HK$2.92 billion. Operating metrics remained strong, with funded accounts up 34.3% to 3.59 million, client assets up 47.2% to HK$1.22 trillion, and revenues up 24.7% to HK$5.86 billion. S&P reaffirmed Futu's BBB- long-term issuer rating with a stable outlook, and management said bank facilities remain intact. Mainland China funded accounts represented about 13% of first-quarter funded accounts, with related client assets around 17% and revenue contribution near 20%, as Futu leans on international expansion through Moomoo, Hong Kong, Singapore, crypto licensing, and planned Korean stock access.
Robinhood Markets Inc
Interactive Brokers Group IncFutu Holdings LtdCSRC proposed RMB1.85 billion penalty for unlicensed activities