Futu Holdings Ltd Files 20-F Annual Report for Fiscal Year 2023

TL;DR

<b>Futu Holdings Ltd has submitted its 2023 annual report on Form 20-F.</b>

AI Summary

Futu Holdings Ltd (FUTU) filed a Foreign Annual Report (20-F) with the SEC on April 24, 2024. Futu Holdings Ltd filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is located in Shenzhen, China. Futu Holdings Ltd is classified under SIC code 6211: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES. The report was filed as of April 24, 2024.

Why It Matters

For investors and stakeholders tracking Futu Holdings Ltd, this filing contains several important signals. This filing provides a comprehensive overview of Futu Holdings Ltd's financial performance and business operations for the fiscal year 2023, crucial for investors assessing the company's standing. As a 20-F filing, it offers detailed financial statements and disclosures required for foreign private issuers listed on U.S. exchanges, enabling a deeper understanding of its market position and regulatory compliance.

Risk Assessment

Risk Level: — Futu Holdings Ltd shows moderate risk based on this filing. The filing is a standard annual report (20-F) for a foreign private issuer, which typically contains detailed financial and operational information but does not usually signal immediate significant changes or events.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F filing to understand Futu Holdings Ltd's performance and outlook for the past fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-24 — Filing Date (Date the 20-F was filed)
• 001-38820 — SEC File Number (SEC file number for Futu Holdings Ltd)

Key Players & Entities

• Futu Holdings Ltd (company) — Filer of the 20-F report
• 20-F (filing) — Form type filed by Futu Holdings Ltd
• 6211 (industry_code) — Standard Industrial Classification code for Futu Holdings Ltd
• Shenzhen (location) — City of Futu Holdings Ltd's business address

FAQ

Industry Context

Futu Holdings Ltd operates in the financial services sector, specifically as a securities broker and dealer, providing online brokerage services.

Regulatory Implications

As a foreign private issuer, Futu Holdings Ltd is subject to SEC regulations, including the requirement to file annual reports on Form 20-F.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the business overview and risk factors to understand operational challenges and strategic direction.
3. Examine any disclosures related to regulatory compliance and market conditions in China and other operating regions.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2024-04-24: Filing Date — Date the 20-F annual report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial extraction of the 2023 20-F filing data; a comparison to a prior filing would require data from a previous report.

Key Financial Figures

• $0.00001 — ht Class A ordinary shares, par value US$0.00001 per share) FUTU The Nasdaq Stock Ma
• $ — d Shenzhen-Hong Kong Stock Connect; "US$," "U.S. dollars," "$," and "dollars" ar
• $7.8109 — Kong dollars were made at the rate of HK$7.8109 to US$1.00, the exchange rate on Decemb
• $1 — were made at the rate of HK$7.8109 to US$1.00, the exchange rate on December 29, 2

Filing Documents

• futu-20231231x20f.htm (20-F) — 6164KB
• futu-20231231xex8d1.htm (EX-8.1) — 14KB
• futu-20231231xex12d1.htm (EX-12.1) — 10KB
• futu-20231231xex12d2.htm (EX-12.2) — 10KB
• futu-20231231xex13d1.htm (EX-13.1) — 5KB
• futu-20231231xex13d2.htm (EX-13.2) — 5KB
• futu-20231231xex15d1.htm (EX-15.1) — 3KB
• futu-20231231xex15d2.htm (EX-15.2) — 5KB
• futu-20231231xex15d3.htm (EX-15.3) — 5KB
• futu-20231231xex97d1.htm (EX-97.1) — 29KB
• futu-20231231x20f001.jpg (GRAPHIC) — 89KB
• futu-20231231x20f005.jpg (GRAPHIC) — 65KB
• futu-20231231x20f013.jpg (GRAPHIC) — 80KB
• 0001104659-24-051213.txt (&nbsp;) — 19218KB
• futu-20231231.xsd (EX-101.SCH) — 112KB
• futu-20231231_cal.xml (EX-101.CAL) — 122KB
• futu-20231231_def.xml (EX-101.DEF) — 385KB
• futu-20231231_lab.xml (EX-101.LAB) — 850KB
• futu-20231231_pre.xml (EX-101.PRE) — 632KB
• futu-20231231x20f_htm.xml (XML) — 3205KB

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 225 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 227 PART II 228 Item 13. Defaults, Dividend Arrearages and Delinquencies 228 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 228 Item 15.

Controls and Procedures

Controls and Procedures 229 Item 16A. Audit Committee Financial Expert 229 Item 16B. Code of Ethics 229 Item 16C. Principal Accountant Fees and Services 230 Item 16D. Exemptions from the Listing Standards for Audit Committees 230 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 231 Item 16F. Change in Registrant's Certifying Accountant 231 Item 16G. Corporate Governance 231 Item 16H. Mine Safety Disclosure 232 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 233 Item 16J. Insider Trading Policies 233 Item 16K. Cybersecurity 233 PART III 235 Item 17.

Financial Statements

Financial Statements 235 Item 18.

Financial Statements

Financial Statements 235 Item 19. Exhibits 235

SIGNATURES

SIGNATURES 238 i Table of Contents INTRODUCTION Unless otherwise indicated or the context otherwise requires, references in this annual report to: "ADSs" are to American depositary shares, each of which represents eight Class A ordinary shares; "availability rate" are to the ratio of the total time a service system is capable of being used during the market hours of the relevant equity markets; "average DAUs" are to the average number of DAUs on each trading day during a specific period; "China," "Mainland China" and the "PRC" are to the People's Republic of China for the purpose of this annual report and for geographical reference only, except where the context requires, references in this annual report to "China", "Mainland China" and the "PRC" do not apply to the Hong Kong Special Administrative Region of the PRC, the Macau Special Administrative Region of the PRC and the Taiwan Region; "clients" are to users with one or more trading accounts with us; "client asset balance" are to the asset balance in the trading accounts of our paying clients; "Class A ordinary shares" are to our Class A ordinary shares, par value US$0.00001 per share; "Class B ordinary shares" are to our Class B ordinary shares, par value US$0.00001 per share; "Consolidated Affiliated Entities" are to entities that we control wholly or partly through the Contractual Arrangements, namely the VIEs and their subsidiaries, details of which are set out in "Item 4. Information on the Company—C. Organizational Structure—Contractual Arrangements with the VIEs and Their Shareholders"; "Contractual Arrangements" are to the series of contractual arrangements entered into between the WFOE, the VIEs and the registered shareholders of each of the VIEs, namely, Mr. Li and Ms. Lei Li (as applicable), as detailed in "Item 4. Information on the Company—C. Organizational Structure—Contractual Arrangements with the VIEs and Their Shareholders"; "CSRC" are to the China Securities Regulatory Co

View Full Filing

View this 20-F filing on SEC EDGAR