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On May 16, leading online brokers Futu Holdings and UP Fintech Holding Limited, known as “Tiger Brokers” in Asia, successively announced that their apps will be removed from app stores on the Chinese mainland.
In last week’s VC news, online medical platform Dingdang Health raises $220 million to expand its O2O strategy, lidar-maker Hesai closes a considerable Series D followed by a hefty Series C round raised by autonomous driving chip-maker Horizon robotics, while Tencent invests in a German online brokerage.
Futu Holdings, an online brokerage and wealth management platform, on Wednesday announced its unaudited financial results for the third quarter ended September 30, 2021.
In episode 46 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma take a look at the market for China’s overseas online brokerages, which help Chinese people to invest in securities outside of mainland China. Of note, two Chinese fintech startups, Futu (富途 fù tú, or “path to riches”) and Tiger Brokers, went IPO in quick succession in March.
Futu Holdings Limited Thursday published its unaudited financial report for the third quarter ended Sept. 30, showing soaring gross profit and surging non-GAAP adjusted net income.