JERSEY CITY, N.J., May 28, 2024 /CNW/ -- Moomoo's parent company Futu Holdings Ltd. ("Futu" or "the Company"), a leading tech-driven online brokerage and wealth management platform, announced its unaudited Q1 2024 earnings with US$331.3 million in revenues, up 9.2% quarter-over-quarter ("QoQ") and US$143.3 million in non-GAAP adjusted net income, a QoQ increase of 18.0%. The results were underscored by the Company's primacy in Hong Kong, as well as its rapid growth and increasing recognition among global investors in markets it penetrated in recent years, including Singapore, Malaysia, Japan, Australia, the US and Canada. In Q1, the Company's new paying clients grew by 330.8% year-over-year ("YoY") to 177,161, and its daily average revenue trades (DARTs) in Q1 increased 7.0% YoY to 549,854. With its customer-centric strategy and commitment to providing tech-powered solutions to address evolving investor needs, the Company celebrated both popularity and stickness of its platforms among global investors. By the end of Q1 2024, the Company had amassed 22.48 million global users and 1.887 million paying clients, up 12.3% and 23.5% respectively, compared to the previous year. It also maintained a strong client retention rate at over 98% in Q1, with the total client assets achieving US$ 66.18 billion, up 11.2% YoY. Entering into the second quarter, the Company continued to see strong momentum in its global expansion. To diversify products and services for various investor needs, the Company continuously launched new offerings, including extending its Japanese stock trading services to markets beyond Japan, starting with Hong Kong and Singapore in April. Committed to providing advanced trading experience and making complex financial data more accessible and understandable, the Company also signed partnerships with leading organizations, including Nasdaq, to provide global investors with expanded access to cutting-edge and reliable market data and insights on its platform for informed investment decision making. Market Growth Highlights: Primacy in Hong Kong In Q1, Futubull, moomoo's sister brand, the household online investment app in Hong Kong, remained as the most downloaded stock trading app [1] in the local market, with its Q1 DARTs hit the highest level in a year. In terms of weekly app download counts and daily active users ("DAUs"), Futubull App also secured the first spot [2] among its competitors in Hong Kong in Q1. Moreover, the Company's Hong Kong subsidiary Futu Securities significantly outpaced other Hong ...