Soaring stock brokers, and rising tobacco
Online brokers Futu and UP Fintech have recorded banner results, with revenue up by 75% or more for both in the fourth quarter. What's driving the growth, and is it sustainable? And the international arm of China's tobacco monopoly reported 10% revenue growth last year, even as the number of Chinese smokers fell. What's driving the increase?
BRIEF: Futu profit doubles on heavy trading during stock market rally
Online brokerage Futu Holdings Ltd. (FUTU.US) said on Thursday its revenue jumped 86.8% in the fourth quarter to HK$4.43 billion ($570 million), fueled by higher trading volumes as investors rushed…
JF SmartInvest makes roaring, yet vulnerable, comeback on China stock rally
The investment educator’s net profit grew sharply last year, despite a large loss in the first half, amid strong demand for its products fueled by a bull run for Chinese…
Futu layoffs signal new phase of consolidation after rapid expansion
The company reportedly laid off about 200 people at its main base in Shenzhen, as it prepares to be ‘relatively disciplined’ in 2025 Key Takeaways: Futu has laid off about…
Noah’s development arc takes overseas turn as life at home only gets tougher
The asset management firm’s overseas revenue growth partially offset a decline in its core domestic business in the third quarter Key Takeaways: Noah’s overseas revenue grew 29% year-on-year in the…
BRIEF: UP Fintech announces share issue plan to raise around $100 million
Online brokerage UP Fintech Holding Ltd. (TIGR.US) said on Tuesday it plans to sell up to 17.25 million new American depositary shares (ADS), in a deal that could raise more…
BRIEF: Tencent sells down Futu stake
Internet giant Tencent (0700.HK) has raised about $206 million by selling down its stake in online brokerage Futu Holdings Ltd. (FUTU.US), Bloomberg reported on Friday. It sold the stock at…
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