In today’s briefing:
- [Futu Holdings (FUTU US, BUY, TP US$55) TP Change]: Better Outlook in Both Domestic and Overseas
- IPower, Inc. – Water Tower Hour Recap: A Conversation with CFO Kevin Vassily
[Futu Holdings (FUTU US, BUY, TP US$55) TP Change]: Better Outlook in Both Domestic and Overseas
- We think Futu has proved its ability to retain its mainland China users. The DAU remained stable, and the growth rate of clients’ HK assets outpaced the market in July.
- Futu’s overseas expansion is quickly ramping up in Japan, Malaysia, and is progress steadily in Singapore and Australia. We expect the monetization in Malaysia begin in 2024.
- We expect Futu 2Q23 revenue 4.5% higher than consensus, our non-GAAP NI 8.7% higher than consensus. We maintain BUY rating on FUTU and raise TP by US$4 to US$55.
IPower, Inc. – Water Tower Hour Recap: A Conversation with CFO Kevin Vassily
iPower CFO Kevin Vassily joined the Water Tower Hour to discuss the company’s business and existing and new business opportunities for FY24.
A return to bottom-line profitability and the development of the new Business Services segment will be the focus for the company in FY24.
iPower is an e-commerce platform operating as an online retailer and supplier of home goods, hydroponics, pet, and wellbeing products.
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