+Jun 17, 20260outside of china are their customers Chinese nationals who are residents of other countries ?Yes, a meaningful portion of Futu’s clients outside mainland China are Chinese nationals living in other countries. This is a known part of their international base, though the company doesn’t publicly disclose exact nationality breakdowns.Here’s where it matters most:Hong Kong: A large share of Futu’s Hong Kong clients are “New Hong Kongers” — mainland Chinese who have moved to Hong Kong for work, study, or investment migration, and opened accounts as residents. Many still hold only a PRC passport and a Hong Kong identity card. This group has been a major driver of Futu’s paying-client growth in Hong Kong since the ban on onboarding mainland residents directly.Singapore: A visible segment of early Moomoo Singapore users were Chinese nationals working or studying in Singapore. Fintech growth in Singapore often leans on the Chinese diaspora and young professionals, and Futu tapped into that network.US, Canada, Malaysia, Japan: These markets also contain Chinese nationals on student or work visas, as well as ethnic Chinese who are now citizens. However, Futu’s marketing in the US is broad-based (English-first, non-ethnic-specific), so the proportion of PRC-citizen users there is likely lower than in Hong Kong or Singapore.Why this matters for regulatory risk:If Beijing ever applied restrictions extraterritorially — targeting Chinese nationals regardless of where they reside — a significant chunk of Futu’s so-called “international” client assets would be affected. That’s the scenario we touched on earlier, where a ban based on citizenship rather than geography would hit Futu’s Hong Kong and Singapore books particularly hard. For now, no such extraterritorial restriction exists; the ban applies only to mainland China residents. Existing clients who legally reside outside the mainland continue to be onboarded and serviced normally.