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    Zihan Wang

    Research Analyst at Goldman Sachs

    Zihan Wang is an Analyst at Goldman Sachs specializing in financial sector research, with a focus on company performance metrics and client growth. She has covered regional breakdowns of new paying client growth and contributed detailed analysis for quarterly targets, demonstrating a data-driven approach in her research output. Zihan began her career at Goldman Sachs and has built expertise in advanced analytics, as reflected by her academic background and participation in rigorous statistical research. She holds a strong quantitative foundation but currently lacks widely documented performance rankings or securities licensing information in the public domain.

    Zihan Wang's questions to Futu Holdings (FUTU) leadership

    Zihan Wang's questions to Futu Holdings (FUTU) leadership • Q4 2024

    Question

    Zihan Wang from Goldman Sachs asked for a regional breakdown of new paying client growth in Q4 and the expected mix for the 2025 target. She also inquired about the 2025 guidance for AUM per client and long-term expectations for this metric by region.

    Answer

    Chief Financial Officer Arthur Chen provided the Q4 new client breakdown: Hong Kong/Singapore contributed 40-45%, other Asian markets and Australia about 40%, and North America the remaining 20%. Senior Vice President Robin Xu added that while predicting average AUM per client is difficult due to market factors, the company saw meaningful Q-on-Q growth in this metric across all markets in Q4 and expects the trend to continue as product offerings and brand equity improve.

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