China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

[Futu Holdings (FUTU US) Company Update]: Difference Assets Shield FUTU from the Fate of SVB

[Futu Holdings (FUTU US) Earnings Review]: Asset Outflow Has Limited Impact on Financial

[Futu Holdings (FUTU US) Earnings Preview]: Steady Operation Albeit Regulation Concern Overhang

Futu Holdings: Cross-Border Broking In Crosshairs

Futu (FUTU US / 3588 HK): Dual Primary Listing, Stock Connect & Potential HSCI/HSTECH Inclusion

CSRC Sanction Is Likely Darkness Before Dawn

Gravity Works As WeWork Doesn't; Now Plan B

China/Asia TMT

Shawn Yang

Equity Bottom-Up

<ul>
<li>We expect FUTU to post C4Q22 revenue and non-GAAP net income 6.4% and 16.0% above consensus, driven by the improved turnover rate in HKEX and the rising interest rate. </li>
<li>We believe the recent regulation measures has little impact on FUTU’s adjusted expectations now widely held by investors. We expect revenue growth to reaccelerate at 37%/31% YoY in 4Q22/2023.</li>
<li>Maintain BUY to FUTU and raise TP by US$1 to US$51.</li>
</ul>


We expect FUTU to post C4Q22 revenue and non-GAAP net income 6.4% and 16.0% above consensus, driven by the improved turnover rate in HKEX and the rising interest rate. 
We believe the recent regulation measures has little impact on FUTU’s adjusted expectations now widely held by investors. We expect revenue growth to reaccelerate at 37%/31% YoY in 4Q22/2023.
Maintain BUY to FUTU and raise TP by US$1 to US$51.


FUTU(FUTU.US) 4Q22 Preview: Solid Fundamentals Drive Long Term Growth

Futu Holdings Ltd

FUTU(FUTU.US) 4Q22 Preview: Solid Fundamentals Drive Long Term Growth