Futu Holdings rode the wave of increased trading activity in Hong Kong stocks and the rapid expansion of the cryptocurrency market, posting a 144% increase in third-quarter profits.
The online brokerage reported a net profit of HK$3.22 billion ($413.5 million) for the three months ended September 30, compared with HK$1.32 billion in the same period a year earlier. According to results released today (Tuesday), sales rose 86% to HK$6.4 billion ($822.9 million).
Futu added 254,000 funded accounts during the quarter, bringing the total to 3.13 million accounts, an increase of 43% year-over-year and nearly 10% compared to Q2 2025. Hong Kong led in customer gains for the fourth straight quarter as investors flocked to a resurgent initial public offering market and a rally in technology stocks.
Trading volume in the quarter reached a record high of HK$3.9 trillion ($501.2 billion), an increase of 105% year-on-year. Hong Kong stocks accounted for HK$1.19 trillion ($152.9 billion) of this, an increase of 43% from the previous quarter and the highest proportion since 2023.
Leaf Hua Li, Futu Chairman and CEO
“Customers have rapidly flocked to the Hong Kong technology name, outpacing many of its U.S. peers,” Futu chairman and chief executive Lief Hua Lee said in a statement.
U.S. stock trading remained strong at HK$2.6 trillion ($334.2 billion), with options trading gaining momentum. The company said both the number of options traders and the number of contracts traded increased by double digits quarter over quarter.
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The company aimed to add 800,000 new customers in 2025. At the end of the third quarter, we were just 100,000 people short of that goal, which looks well within reach.
Soaring price of crypto assets
“Crypto-asset trading volume surged 161% quarter-on-quarter on the back of 90% continuous increase in crypto-assets and improved transaction speed,” Li added.
Ethereum has overtaken Bitcoin to become the most traded digital currency on the Hutu platform, while Hong Kong’s newly launched Solana token has seen an increase in trading volume.
Total customer assets increased to HK$1.24 trillion ($159.4 billion), an increase of 79% year-on-year and 27% compared to the second quarter. Credit and securities lending outstanding increased by 23% from the previous quarter to HK$63.1 billion ($8.1 billion).
Enabling the IPO pipeline
Futu served as co-bookrunner for several prominent Q3 listed companies in Hong Kong, including Chery Automobile, Hesai Group and Lens Technology. The 12 IPOs each attracted more than HK$100 billion ($12.9 billion) in subscription volume on the company’s platform.
The company had 561 IPO sales and IR customers at the end of the quarter, an increase of 22% year over year. Hong Kong’s IPO market raised $23.37 billion in the first nine months of 2025, triple the amount from the previous year, according to data from the London Stock Exchange Group.
Approval of share buyback
Futu’s board of directors has approved an $800 million share repurchase program that runs through December 2027. This authorization replaces previous repurchase plans that are expiring. The company plans to fund the repurchase from existing cash balances.
Diluted earnings per American Depositary Share was HK$22.80 ($2.93), compared with HK$9.42 ($1.121) in the same period last year. Each ADS represents eight Class A ordinary shares.
