Futu Holdings Limited

Hello ladies and gentlemen, welcome to Futu Holdings' fourth quarter and full year 2020 earnings conference call. At this time, all participants are in the listen-only mode. After management's prepared remarks, there will be a question and answer session. Today's conference call is being recorded. If you have any objections, you may disconnect at this time. And now I'd like to turn the conference over to your host for today's conference call, Daniel Yuan, Chief of Staff to CEO and Head of IR at Futur. Please go ahead, sir.

Thanks, operator. And thank you for joining us today to discuss our fourth quarter and full year 2022 earnings results. Joining me on the call today are Mr. Leif Lee, Chairman and Chief Executive Officer, Arthur Chen, Chief Financial Officer, and Robin Xu. Senior Vice President. As a reminder, today's call may include forward-looking statements, which represent the company's belief regarding future events, which by their nature are not certain and are outside of the company's control. Forward-looking statements involving hearing risks and uncertainties. We caution you that a number of important factors could call back to results to differ materially from those containing any forward-looking statements. For more information about the potential risks and uncertainties, please refer to the company's filings for the SEC, including its registration statement. So with that, I will now turn the call over to Lief. Lief will make his comments in Chinese, and I will translate.

Thank you for attending today's conference. In the fourth quarter, we competed with 420,000 real estate clients, with a 27% drop in the ratio. This quarter, the first half of the stock market had a lot of feedback. Although the second half of the stock market has rebounded, the market is different in terms of the continuity of this rebound. In such a market environment, customer sentiment is affected, and customer speed is slowed. By the end of 2022, our real estate customers reached about 1.5 million, which is a 20% increase. In 2022, we have received more than 240,000 real estate customers, Thank you all for joining our earnings call today. In the fourth quarter, we added over 42,000 paying clients, down 27% sequentially. Stock market plummet in the first half of the quarter,