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Yi Zong

Yi Zong

Research Analyst at Jefferies Financial Group Inc.

Hong Kong

Zoey Zong is an Internet & Media Senior Associate (China) at Jefferies, focusing on equity research for leading technology and internet companies in the Chinese market. She previously served as a Research Analyst at BOC Holdings International from 2019 to 2020 and at Huatai Financial Holdings (Hong Kong) from 2016 to 2019, developing a strong research background in financial engineering and mathematics. Zong holds a Bachelor of Economics in Financial Engineering from the University of International Business and Economics, as well as a Master of Science in Financial Mathematics from The Hong Kong University of Science and Technology. Her analytical rigor and industry expertise have contributed to her role at Jefferies, where she delivers insights on China's evolving digital sector.

Yi Zong's questions to Futu Holdings (FUTU) leadership

Question · Q4 2024

Yi Zong from Jefferies questioned the reasons for the decline in the blended trading commission rate in Q4. She also asked about the status of the $500 million share buyback program and whether the company is considering a regular dividend.

Answer

Chief Financial Officer Arthur Chen explained the commission rate decline was due to a product mix shift towards high-nominal-value U.S. stocks and options. Regarding capital return, he stated the share repurchase program has not yet been utilized as capital is being prioritized for growth. However, the company will re-evaluate its dividend policy after the full-year 2025 results are complete to reward long-term shareholders.

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