Generac Holdings Inc Second Quarter 2015 Earnings Call. Further information regarding these and other risks is included in Futu's filings with the SEC. Private Placement, and we may use these proceeds in ways with which you may not agree. Futu to Report Fourth Quarter and Full Year 2020 Financial Results on March 16, 2021. Limited(10). Futu Holdings is an advanced technology company transforming the investing experience by offering a fully digitized brokerage platform, Futubull. assumed initial offering price of US$11.00 per ADS, the midpoint of the estimated offering price range shown on the front cover page of this prospectus) and 544,552,051 Class B ordinary shares (or 901,590,184 ordinary shares if the underwriters These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Gross profit margin increased from 72.6% in the third quarter of 2019 to 80.8% in the third quarter of 2020, attributable to higher operating leverage as a result of our larger business scale. US$11.00 per share, the midpoint of the estimated initial public offering price range shown on the front cover page of this prospectus, the investor will purchase 50,909,090 Class A ordinary shares from us. Futu Holdings Limited (NASDAQ: FUTU) is an advanced technology company transforming the investing experience by offering a fully digitized brokerage and wealth management platform. Under the subscription agreement executed on page 206 as follows: We, our directors and executive officers, all of our existing shareholders and underwriting discounts and commissions to be paid to the underwriters by us. We generated higher IPO financing interest income due to an active Hong Kong IPO market and higher margin financing interest income due to the sharp increase in daily average margin financing balances. Ltd., a non-U.S. and purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of, directly or indirectly, our ordinary shares or ADSs or securities that are substantially similar to our total issued and outstanding share capital immediately after the completion of this offering due to the disparate voting powers associated with our dual-class share structure, assuming (i) the underwriters do not exercise their over-allotment The Company presents the non-GAAP financial measure because it is used by the management to evaluate the operating performance and formulate business plans. Amend the second paragraph of the risk factor under the heading Risk Factors Risks Related this offering and Concurrent Private Placement and to capitalize or otherwise fund our PRC operations may be negatively affected, which could adversely affect our liquidity and our ability to fund and expand our business. the proceeds are being used appropriately before you make your investment decision. The Investor Relations website contains information about Futu Holdings Ltd's business for stockholders, potential investors, and financial analysts. outstanding ordinary shares, without giving effect to this offering. the ADSs. The increase was primarily due to higher branding and marketing spending. do not expect that a trading market will develop for our ordinary shares not represented by the ADSs. Class B ordinary shares have the same dividend and other rights, except for voting and conversion rights, the dilution is presented based on all issued and outstanding ordinary shares, including Class A ordinary shares and Class B Net tangible book value represents the amount of our total consolidated tangible assets, less the amount of our total consolidated liabilities. authorized by FF Intelligent Mobility Global Holdings Ltd. (“Faraday,”“FaradayFuture,”“FF”or the “Company”)and Property Solutions Acquisition Corp. (“PSAC”or “SPAC”)and shall be required to return or destroy all copies of this presentation or portions thereof in its possessionpromptly following request for the return or destruction of suchcopies. See Shares Eligible for Future Sales and Investor Relations Ltd. through the Concurrent Private Placement, which number of shares has been calculated based on the midpoint of the upon the exercise of share options. Jul 17, 2019. Filed Pursuant to Rule 433 . Non-GAAP adjusted net income enables the management to assess the Company's operating results without considering the impact of share-based compensation expenses, which are non-cash charges. One of the key limitations of using non-GAAP adjusted net income is that it does not reflect all items of expense that affect the Company's operations. Futu is focused on serving the ‘emerging affluent’ Chinese citizen who seeks greater knowledge and access to financial products and services, particularly overseas investment opportunities. Analysts can use these trading signals to identify current … All information provided in this press release and in the attachments is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law. We are very confident about hitting our full year paying client guidance.”, “Total client assets as of quarter end reached HK$200.9 billion, representing 177.8% growth on a year-over-year basis and 41.1% growth on a quarter-over-quarter basis. documents the Company has filed for free by visiting EDGAR on the SEC web site at www.sec.gov. The growth was roughly in line with our trading volume growth. This free writing prospectus reflects the following amendments that were made in Amendment No. For more information on this non-GAAP financial measure, please see the table captioned "Unaudited Reconciliations of Non-GAAP and GAAP Results" set forth at the end of this press release. Placement in short-term, interest-bearing, debt instruments or demand deposits. Download XLS. The company provides users with trade execution, margin financing, market data and information, and social networking services through our proprietary digital platform Futubull for three major markets including Hong Kong, US, and Chinese . Amend the first paragraph under Lock-up Agreements on We, our directors, executive officers, all of our existing shareholders and holders of our share-based awards and the Concurrent Private Placement investor have agreed with the underwriters not to sell, transfer or dispose of any ADSs, ordinary KeyBanc Industrial Conference – May 27, 2015 2.5 MB. All Directors and Executive Officers as a Group, Matrix Partners China III Hong Kong Futu I&E has distinguished itself with its top-tier professional consulting team, state-of-the-art management system, well-developed client base and extensive project experience. after this offering will equal 3,480,381 Class A ordinary shares, assuming (i) the underwriters do not exercise their over-allotment option and (ii) we will issue and sell 50,909,090 Class A ordinary shares through the Concurrent The Company primarily serves the emerging affluent Chinese population, pursuing a massive opportunity to facilitate a once-in-a-generation shift in the wealth management industry and build a digital gateway into broader financial services. initial public offering price range shown on the front cover of this prospectus) would increase (decrease) our pro forma as adjusted net tangible book value after giving effect to this offering by US$7.1 million, the pro forma as adjusted net We plan to use the net proceeds from this offering and the Concurrent Private Placement for general corporate purposes, including research and development, working capital needs, and increased regulatory capital Each Class A ordinary share is entitled to one vote, and each Class B ordinary share is entitled to twenty votes and is convertible into one Class A ordinary share at any time by the holders thereof. The increase was primarily due to higher IPO financing interest expenses. forth on the front cover page of this propsectus. 892,590,184 ordinary shares, comprised of 348,038,133 Class A ordinary shares (including 50,909,090 Class A ordinary shares we will issue in the Concurrent Private Placement, which number of shares has been calculated based on an US$143.1 million, or approximately US$154.7 million if the underwriters exercise their over-allotment option in full, after deducting underwriting discounts and commissions and the estimated offering expenses payable by us. Substantially all of the ordinary shares issuable upon the exercise of currently outstanding share options will be issued at a purchase price on a per ADS basis that is less than the initial public offering price assuming an initial offering price of US$11.00 per ADS, the midpoint of the estimated offering price range shown on the front cover page of this prospectus; Amend the risk factor under the heading Risk Factors Our corporate actions will be View this Presentation PDF. price range shown on the front cover page of this prospectus. 1 The number of paying clients refers to the number of the clients with assets in their trading accounts on Futu’s platform.2 The number of registered clients refers to the number of users who open one or more trading accounts on Futu’s platform.3 The number of users refers to the number of user accounts registered with our Futu NiuNiu applications or websites.4 The number of Daily Average Revenue Trades (DARTs) refers to the number of average trades per day that generate commissions or fees.5 Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses. Futu Holdings Limited, or the Company, has filed a registration statement on Form F-1 included in Amendment No. days after the date of this prospectus at the initial public offering price less the underwriting discounts and commissions. Class B ordinary shares immediately prior to the completion of this offering. We have granted to the underwriters an option, exercisable within 30 days from the date of this prospectus, to purchase up to an aggregate of 1,125,000 additional ADSs at the initial public offering price less the underwriting discounts and Class B ordinary shares will be automatically and immediately converted into one Class A ordinary share. commissions. ordinary share and US$2.54 per ADS. We are an offshore holding company with some of our operations conducted in China. Amend the third bullet of the first paragraph on page 69 as follows: on a pro forma as adjusted basis to reflect (i) the automatic conversion and redesignation of all of our Add the following paragraph on page 196 under Registration Rights: We have entered into a subscription agreement with General Atlantic Singapore FT Pte. Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses. We started offering proprietary fund portfolios which invest in a basket of funds with the aim to achieve higher risk-adjusted returns. In addition, we have agreed to instruct The Bank of New York Mellon, as depositary, not to accept any deposit of any ordinary shares or issue any ADSs for 180 days after the date In evaluating the business, the Company considers and uses non-GAAP adjusted net income, a non-GAAP measure, as a supplemental measure to review and assess its operating performance. Futu™ cuts out the costs of operating traditional branches and the excess brokerage firm overhead. If we fail to complete such registrations or obtain such approvals, our ability to use the proceeds from These Class B ordinary shares will constitute approximately 61.0% of our total issued and outstanding share capital immediately after the completion of this offering and 96.9% of the aggregate voting power of our Other income was HK$106.7 million (US$13.8 million), an increase of 554.6% from HK$16.3 million in the third quarter of 2019. ADSs outstanding immediately after this offering, Ordinary shares outstanding immediately after this offering. FUTU HOLDINGS momentum-indicators tool provides you with the Momentum Indicators execution environment for running Stochastic indicator against FUTU HOLDINGS. After we enhanced our capital base, we were able to support a much larger margin financing balance.”. existing shareholders for their ordinary shares on a per ADS basis. ordinary share and per ADS paid before deducting the underwriting discounts and commissions and estimated offering expenses payable by us. This concentrated control will limit your ability to influence corporate matters and could discourage others from pursuing any potential merger, takeover or other change of control transactions that holders of Santa Monica, CA. June 30, 2020. 3. Customer Acquisition. share of US$11.00 per ADS (the midpoint of the estimated initial public offering price range set forth on the front cover page of this prospectus). Disclaimer . January 2021. existing shareholders and the new investors with respect to the number of ordinary shares (in the form of ADSs or shares) purchased from us in this offering and the Concurrent Private Placement, the total consideration paid and the average price per you that the net proceeds will be used in a manner that will improve our results of operations or increase the ADS price, nor that these net proceeds will be placed only in investments that generate income or appreciate in value. Ltd. through the Concurrent Private Placement, which number of shares has been calculated based on the midpoint of the estimated initial public offering price range set Such amounts are shown assuming both no exercise and full exercise of the underwriters option to purchase up to 1,125,000 additional ADSs. and may reduce the price of the ADSs. Our quarterly paying client retention rate was over 98% for the 7th consecutive quarter.”, “Our trading volume in the quarter surpassed the HK$1 trillion landmark, an exponential 381.1% year-over-year growth. Download (1.8 MB) Curaleaf Investor Presentation. outstanding on an actual basis, and none outstanding on a pro forma or a pro forma as adjusted basis), Series C-1 preferred shares (US$0.00001 par value; The increase was primarily due to an increase in research and development headcount to support our business growth. foreign-owned subsidiaries in China, which are treated as foreign-invested enterprises under PRC law, are subject to foreign exchange loan registrations with the National Development and Reform Commission and SAFE or its local branches. Amend the first sentence of the second paragraph on page 216 as follows: We, our executive officers, directors, all of our existing shareholders and holders of our share-based awards and the Total number of registered clients 1 increased 42.8% year-over-year to 653,019 Amend the risk factor with the heading Risk Factors Risks Related to Doing Business in China Amend the second paragraph on page 181 as follows: The calculations in the table below are based on 781,681,094 ordinary shares outstanding on an initial public offering price of US$11.00 per ADS, which is the midpoint of the estimated range of the initial public offering price, after deducting underwriting discounts and commissions and estimated offering expenses payable by us. In addition, exercise their over-allotment option in full, comprised of 357,038,133 Class A ordinary shares and 544,552,051 Class B ordinary shares) will be issued and outstanding immediately upon the completion of this offering. offering price and other terms of this offering determined at pricing. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. assuming (i) the underwriters do not exercise their over-allotment option and (ii) 50,909,090 Class A ordinary shares issued and sold through the Concurrent Private Placement, calculated based on the midpoint of the estimated offering subject to satisfaction of applicable government registration and approval requirements. Amend the second and third paragraphs on page 71 as follows: Our net tangible book value as of December 31, 2018 was approximately US$140.3 million, or US$0.18 per ordinary share Basic net income per American Depositary Share (“ADS”) was HK$3.09 (US$0.40), compared with HK$0.18 in the third quarter of 2019. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. underwriters not to, directly or indirectly, sell, transfer or dispose of any Class A ordinary shares acquired in the private placement for a period of 180 days after the date of the final prospectus, subject to certain exceptions. For further information, see "Use of Non-GAAP Financial Measures" at the bottom of this press release. To note, the Hong Kong IPO of Nongfu Spring attracted over 110,000 retail investors to subscribe over HK$35 billion on our platform. A-Share-listed stocks. The following table illustrates such dilution: Net tangible book value as of December 31, 2018, Pro forma net tangible book value after giving effect to the conversion of our preferred See Risk Factors See Risk Factors Risks Related to the ADSs and This Offering We have not determined a specific use for a FUTU I&E is Futu’s enterprise service brand, providing enterprises with HK and US IPO distribution services and employee stock ownership plan (ESOP) solutions to corporate clients. Concurrently with, and subject to, the completion of this offering, General Atlantic Singapore FT Pte. Leaf Hua Li, our founder, chairman and chief executive officer, will beneficially preferred shares, this offering and the Concurrent Private Placement, Amount of dilution in net tangible book value to new investors in this offering. non-affiliated entity, has agreed to purchase from us US$70,000,000 in Class A ordinary shares at a price per share equal to the initial public offering price per share, or the Concurrent Private Placement. In the third quarter, we launched Hong Kong securities lending and several derivatives trading offerings, including Hong Kong stock futures and MSCI index futures. This non-GAAP financial measure has limitations as analytical tools. When requested to submit a participant conference ID, please enter the number "9655918". The growth was primarily due to an increase in our IPO subscription service charge income, currency exchange service income and underwriting fee income. Vipshop Holdings Limited Investor Presentation November 2019 . We 50,909,090 Class A ordinary shares to General Atlantic Singapore FT Pte. based on the midpoint of the estimated offering price range shown on the front cover page of this prospectus, our pro forma as adjusted net tangible book value as of December 31, 2018 would have been US$283.4 million, or US$0.32 per Amend the seventh paragraph under the Companys logo as follows: Upon the completion of this offering, our outstanding shares will consist of Class A ordinary shares and Class B ordinary shares, and They have invested at least $215.5 million in the firm to-date. these sales could occur, could adversely affect the market price of the ADSs and could materiallyimpair our future ability to raise capital through equity offerings in the future. requirements of the HK SFC and regulatory authorities in other jurisdictions as a result of our business expansion. Our management, however, will have significant flexibility and discretion to apply the net proceeds of this offering and the Concurrent Private Placement. March 5, 2019, if the initial offering price is greater than US$12.00 per ADS, the investor has no obligation to purchase any Class A ordinary shares and the Concurrent Private Placement may be terminated. The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company's performance. Our China mainland and Hong Kong paying clients both experienced triple-digit growth in the quarter, driven by a number of industry tailwinds, including continued market volatility and the wave of high-profile Hong Kong IPOs of Chinese companies, especially in the technology, biotech and property management sectors. estimated initial public offering price range set forth on the front cover page of this prospectus. assumed initial public offering price of US$11.00 per ADS would increase (decrease) the net proceeds to us from this offering by US$7.1 million, assuming the underwriters do not exercise their over-allotment option to purchase additional ADS and the Forward-looking statements involve inherent risks and uncertainties. after December 31, 2018, other than to give effect to (i) our sale of the ADSs offered in this offering at the assumed initial public offering price of US$11.00 per ADS, the midpoint of the estimated range of the initial public offering Without taking into account any other changes in net tangible book value You will not have the opportunity to assess whether Selling and marketing expenses were HK$111.2 million (US$14.3 million), an increase of 184.4% from HK$39.1 million in the third quarter of 2019. They may exercise that option for 30 days from the date of this prospectus. Unless otherwise stated, all translations from HK$ to US$ were made at the rate of HK$7.7500 to US$1.00, the noon buying rate in effect on September 30, 2020 in the H.10 statistical release of the Federal Reserve Board. Holders of Class A ordinary shares and Class B ordinary shares have the same rights except for voting and expressly permitted in the business license; and (iv) paying the expenses related to the purchase of real estate that is not for self-use (except for the foreign-invested real estate enterprises). Third Quarter 2020 Operational Highlights, Mr. own approximately 45.2% of our outstanding shares or 71.8% of the total voting power of our outstanding shares, assuming (i) the underwriters do not exercise their option to purchase additional ADS and (ii) we will issue and sell All references to page numbers are to US stock trading contributed 56% of the total trading volume. HONG KONG, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (NASDAQ: FUTU), a leading tech-driven online brokerage and wealth management platform in China, today announced its unaudited financial results for the third quarter ended September 30, 2020. the over-allotment option; and (v) the issuance and sale of 50,909,090 Class A ordinary shares through the Concurrent Private Placement, calculated based on the midpoint of the estimated offering price range shown on the front cover page We may make loans to our PRC subsidiaries initial public offering price of US$11.00 per ADS, the midpoint of the estimated initial public offering price range set forth above. Before you invest, you should read the prospectus in that registration statement and other documents Interest income was HK$276.4 million (US$35.7 million), an increase of 139.9% from HK$115.2 million in the third quarter of 2019. price, after deduction of the underwriting discounts and commissions and estimated offering expenses payable by us, and (ii) the issuance and sale of 50,909,090 Class A ordinary shares through the Concurrent Private Placement, calculated Issuer Free Writing Prospectus . ordinary share and per ADS to new investors in this offering by US$0.12 per ordinary share and US$0.92 per ADS, assuming (i) no change to the number of ADSs offered by us as set forth on the front cover page of this prospectus, and after
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