An 18% net profit penalty, Futu can handle it, but the industry model is about to change dramatically.

BlockBeats News, May 22 — After the China Securities Regulatory Commission proposed a penalty of approximately 1.85 billion RMB (about 271 million USD) related to Futu's cross-border business activities, the market is paying attention to its profitability and actual pressure levels. Futu Holdings' 2025 financial report shows that the company achieved total revenue of 22.85B HKD for the year, a year-on-year increase of 68.1%; Non-GAAP net profit reached 11.65B HKD (about 1.49 billion USD), a year-on-year increase of 101.9%.





Based on profit scale, the proposed penalty amount accounts for about 18% of Futu's Non-GAAP net profit in 2025. Market analysis believes that, given current profitability, Futu has the capacity to bear the relevant fines, but stricter regulation of cross-border business activities may have a sustained impact on the industry's future business models.