Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company reported a significant increase in total revenue and net profit for the first half of 2025, with total revenue rising by 57% year-on-year to $261 million and net profit increasing by 381% to $72 million [1] - The strong performance is attributed to active trading, with commission income up 99% to $123 million and interest income up 28% to $113 million [7] - The company is expanding its business and launching new services, including cryptocurrency deposit services and local stock trading in New Zealand [7] Revenue Summary - Total revenue for 2023 is projected at $273 million, with a year-on-year growth of 20.92%, and expected to reach $1.128 billion by 2027 [1][23] - Commission income is forecasted to grow from $93 million in 2023 to $448 million in 2027, reflecting a significant increase in trading activity [23] - Interest income is expected to rise from $149 million in 2023 to $612 million in 2027, driven by increased margin trading activities [23] Profitability Summary - The company's net profit is projected to grow from $33 million in 2023 to $249 million in 2027, with a remarkable growth rate of 1588% in 2023 [1][23] - The earnings per share (EPS) is expected to increase from $0.01 in 2023 to $0.09 in 2027, indicating strong profitability growth [1][23] Cost and Expense Summary - Total operating costs and expenses are expected to rise from $193 million in 2023 to $620 million in 2027, reflecting the company's expansion and increased trading volume [23] - Significant increases in settlement and execution costs, as well as marketing expenses, are noted due to higher trading activity and global expansion efforts [7] Business Expansion - The company is actively launching new services and expanding its market presence, including the introduction of cryptocurrency services and new trading functionalities in Singapore [7] - The number of funded clients has increased to 1.19 million, a 21% year-on-year growth, indicating a robust user base expansion [7]

Group 1 - The core point of the article highlights that Tiger Brokers (NASDAQ:TIGR) experienced a significant stock price drop of 9.75% on August 27, closing at $11.57 [1] - Tiger Brokers reported its second-quarter unaudited financial results for the period ending June 30, 2025, showing a record revenue of $139 million, which represents a year-over-year growth of 58.7% [1] - The company's non-GAAP net profit attributable to the parent company reached $44.51 million, reflecting a quarter-over-quarter increase of 23.5% and a nearly eightfold year-over-year increase, marking another historical high [1]

Group 1 - The Nasdaq Golden Dragon China Index fell over 2%, indicating a broad decline in popular Chinese concept stocks [1] - Tiger Brokers (TIGR.US) experienced a nearly 10% drop, while Li Auto (LI.US) and Xpeng Motors (XPEV.US) fell over 5% [1] - Alibaba (BABA.US) and Futu Holdings (FUTU.US) also saw declines of over 2% [1] Group 2 - The Hang Seng Index decreased by 1.27%, and the Shanghai Composite Index dropped by 1.76% [1]

Group 1 - The Nasdaq China Golden Dragon Index fell over 2% on Wednesday, indicating a decline in popular Chinese concept stocks [1] - Notable declines included Tiger Brokers (TIGR.US) down nearly 10%, Li Auto (LI.US) and Xpeng Motors (XPEV.US) both down over 5%, and Alibaba (BABA.US) and Futu Holdings (FUTU.US) down over 2% [1] - Additionally, the Hang Seng Index dropped by 1.27% and the Shanghai Composite Index fell by 1.76% [1]

Financial Data and Key Metrics Changes - Total revenue for the quarter reached $138.7 million, representing a 58.7% year-over-year increase and a 13.1% quarter-over-quarter growth [6][14] - Commission income surged to $64.8 million, reflecting a 90.1% year-over-year increase and an 11.1% quarter-over-quarter increase [6][14] - Net interest income amounted to $58.7 million, a 32.8% year-over-year increase [6][14] - Non-GAAP net income reached $44.5 million, increasing 23.5% sequentially and 8.6 times compared to the same quarter last year [6][18] - Non-GAAP net profit margin increased to 32%, marking a record high and has risen for four consecutive quarters [7][18] Business Line Data and Key Metrics Changes - The margin financing and securities lending balance expanded to $5.7 billion, reflecting a 65.3% year-over-year growth [6] - The company underwrote seven Hong Kong IPOs and four U.S. IPOs, contributing to a new quarterly high in other revenue [11] Market Data and Key Metrics Changes - The total number of funded accounts reached 1,192,700, representing a 21.4% year-over-year increase [8] - Client assets reached a record of $52.1 billion, up 13.5% quarter-over-quarter and 36.3% year-over-year [8] - In the second quarter, client assets in Hong Kong and Singapore experienced around 50% and 20% quarter-over-quarter growth, respectively [8][9] Company Strategy and Development Direction - The company aims to develop a comprehensive platform connecting traditional financial assets with digital assets, focusing on enhancing product functionalities [26][28] - Continued investment in the Hong Kong market is planned, with a focus on increasing brand awareness and customer engagement [35][37] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating market turbulence due to a stable and healthier business model [7] - The effective tax rate dropped to around 15% due to a favorable tax rate in Singapore and a reduction in the weighting of the U.S. subsidiary's profit [23][24] - The digital asset trading volume increased by approximately 65% quarter-over-quarter, indicating strong growth in this segment [28] Other Important Information - The average net asset inflow of newly acquired clients exceeded $20,000, with Hong Kong and Singapore clients averaging around $30,000 [8][44] - The company has secured digital asset trading licenses in 14 U.S. states, with an application in Singapore actively progressing [28] Q&A Session Summary Question: What is the reasoning behind the decrease in effective tax rate and is it sustainable? - The effective tax rate decreased due to a rise in pretax profit across all licensed subsidiaries, reducing the U.S. subsidiary's weighting, and a favorable tax rate in Singapore [23][24] Question: How is the company's cryptocurrency business progressing? - The company is committed to expanding its presence in the digital asset market, with significant growth in trading volume and assets under custody [26][28] Question: Can you share early trends around trading volume and client asset growth in Q3? - Trading activity has been higher than the monthly average in Q2, with a high single-digit increase in client assets compared to the end of Q2 [33] Question: What are the plans for customer acquisition and advertising efforts in Hong Kong? - The company plans to enhance customer acquisition efforts in Hong Kong, with a focus on maintaining user quality and increasing brand awareness [35][37] Question: Can you provide a breakdown of newly added customers across different regional markets? - About 50% of newly funded accounts came from Singapore, 30% from Hong Kong, 15% from Australia and New Zealand, and 5% from the U.S. [42]

Financial Data and Key Metrics Changes - Total revenue for the quarter reached $138.7 million, representing a 58.7% year-over-year increase and a 13.1% quarter-over-quarter growth [8][16] - Trading volume surged to $284 billion, contributing to a 90.1% year-over-year increase in commission income, which reached $64.8 million [8][16] - Margin financing and securities lending balance expanded to $5.7 billion, reflecting a 65.3% year-over-year growth [8] - Net interest income amounted to $58.7 million, representing a 32.8% year-over-year increase [8] - Non-GAAP net income reached $44.5 million, increasing 23.5% sequentially and 8.6 times compared to the same quarter last year [8][20] Business Line Data and Key Metrics Changes - The 2B business maintained strong momentum, underwriting seven Hong Kong IPOs and four U.S. IPOs, contributing to a new quarterly high in other revenue [13] - The average net asset inflow of newly acquired clients exceeded $20,000, with Hong Kong and Singapore clients averaging around $30,000 [10][44] Market Data and Key Metrics Changes - As of the end of the second quarter, total client assets reached a record $52.1 billion, up 36.3% year-over-year [10] - Client assets in Hong Kong and Singapore experienced around 50-20% quarter-over-quarter growth [10] - The company added 38,900 new funded accounts in the second quarter, with Singapore and Hong Kong being the primary contributing markets [9][10] Company Strategy and Development Direction - The company aims to develop a comprehensive platform connecting traditional financial assets with digital assets, focusing on enhancing product functionalities [28] - Continued investment in the Hong Kong market is planned, with increased customer acquisition efforts and brand awareness initiatives [37][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating market turbulence through a stable and healthier business model, with operating profit and net profit already exceeding last year's totals [9] - The effective tax rate dropped to around 15% due to a favorable tax rate in Singapore and increased pretax profit across subsidiaries [25] Other Important Information - The company launched new trading features in Singapore, allowing clients to utilize CPF savings for investments [12] - The average customer acquisition cost in Hong Kong is around $400, with a healthy payback period of about two quarters [39] Q&A Session Summary Question: Inquiry about the effective tax rate and sustainability - The decline in the effective tax rate is due to increased pretax profit across subsidiaries and a favorable tax rate in Singapore [25] Question: Update on cryptocurrency business development - The company is committed to expanding its digital asset market presence and has seen a 65% quarter-over-quarter increase in digital asset trading volume [30] Question: Trends in trading volume and client assets in Q3 - Trading activity has been higher than the monthly average in Q2, with a high single-digit increase in client assets compared to the end of Q2 [35] Question: Breakdown of new customers by region - Approximately 50% of new funded accounts came from Singapore, 30% from Hong Kong, and 15% from Australia and New Zealand [43]

二季度，老虎国际佣金收入为6479万美元，同比增长90.1%；利息相关收入达6142万美元，同比增长 30.4%。 Q2老虎平台各品类的日均交易量（DARTs）同比增长86.6%；夜盘交易能力持续升级，支持市价单等订 单类型及改单，季内夜盘时段美股日均交易量（DARTs）同比实现近8倍增长。 智通财经APP获悉，老虎证券(TIGR.US)公布截至2025年6月30日的第二季度未经审计财务数据。财报显 示，老虎国际第二季度营收1.39亿美元，同比增长58.7%，创历史新高。归属母公司的non-GAAP净利润 为4451万美元，环比增长23.5%，同比增长近八倍，创下历史新高。 二季度，老虎证券全球开户数新增5.3万，全球总开户数达258万。期内新增入金客户3.98万，推动总入 金客户数同比增长21.4%达到119.3万。 公司业务活跃度持续提升，二季度总交易额同比增长168.3%至2840亿美元；净入金保持强劲，达30亿 美元，推动客户总资产环比增长近13.5%，同比增长36.3%至521亿美元，创历史新高。 老虎国际创始人及CEO巫天华表示："二季度，公司营收和利润均实现强劲增长。其中，non-GAAP净利 ...

EXHIBIT 99.1 UP Fintech Holding Limited Reports Unaudited Second Quarter 2025 Financial Results Singapore, August 27, 2025 – UP Fintech Holding Limited (NASDAQ: TIGR) ("UP Fintech" or the "Company"), a leading online brokerage firm focusing on global investors, today announced its unaudited financial results for the second quarter ended June 30, 2025. Mr. Wu Tianhua, Chairman and CEO of UP Fintech stated: "We saw increased user engagement in the second quarter with more diversified products offering and sup ...

消息面上，向上融科第二季度业绩，营收1.39亿美元，同比增长58.7%，创历史新高；归属母公司的 non-GAAP净利润为4451万美元，环比增长23.5%，同比增长近八倍，创下历史新高。 报告期内，全球开户数新增5.3万，全球总开户数达258万。新增入金客户3.98万，推动总入金客户数同 比增长21.4%达到119.3万。公司业务活跃度持续提升，二季度总交易额同比增长168.3%至2840亿美元； 净入金保持强劲，达30亿美元，推动客户总资产环比增长近13.5%，同比增长36.3%至521亿美元，创历 史新高。(格隆汇) 向上融科(TIGR.US)盘前一度涨超6.5%，报13.66美元。 ...

Financial Performance - UP Fintech reported total revenue of US$138.7 million for Q2 2025, representing a 58.7% year-over-year increase, achieving a record high [1] - Non-GAAP net income attributable to shareholders surged to US$44.5 million, up 23.5% quarter-over-quarter and nearly 8 times year-over-year, also reaching a record level [1] - Commission income rose to US$64.8 million, increasing by 90.1% year-over-year, while interest-related income climbed 30.4% year-over-year to US$61.4 million [8] Client Growth and Engagement - The company added 52,700 new accounts in Q2, bringing the total number of global accounts to 2.58 million, with funded accounts increasing by 39,800 [1] - Average net asset inflows from new clients exceeded US$20,000 in Q2, with figures in Hong Kong and Singapore reaching about US$30,000, driving client assets in these markets up approximately 50% and 20% quarter-over-quarter, respectively [2] - The wealth management business saw assets under custody (AUC) grow 31.7% quarter-over-quarter and 225% year-over-year, with the number of wealth clients increasing by 70.8% year-over-year [10] Trading Activity - Q2 trading volume soared 168.3% year-over-year to US$284 billion, with significant increases in trading orders and commissions [1] - In Singapore, total trading volume rose 113% year-over-year and 80% quarter-over-quarter, while in Hong Kong, trading volume surged nearly 8 times year-over-year [3][4] - In the US, options trading increased by 163.4% quarter-over-quarter, reflecting stronger user engagement [5] Product Enhancements - TigerAI, the AI-powered research assistant, saw its user base more than triple year-over-year, with total conversations rising over fourfold [8] - Major upgrades to the Tiger Trade app included new features for portfolio analysis, watchlist insights, and stock-specific assessments [2] - The company launched new fundamental tools such as revenue & expenditure breakdown and valuation track to assist investors in interpreting financials [8] Investment Banking and IPOs - UP Fintech's investment banking division participated in underwriting 7 Hong Kong IPOs and 4 US IPOs, ranking third among US-listed Chinese IPO underwriters [13] - The company underwrote the high-profile CHAGEE IPO, which attracted over 30,000 subscriptions, marking the highest number for a US IPO in nearly three years [13] Regional Performance - In Australia, new account openings grew 62.6% quarter-over-quarter, with total client assets climbing 34% quarter-over-quarter [7] - In New Zealand, net deposit amounts jumped 149.2% year-over-year, with trading volume surging 56.3% quarter-over-quarter and 119.7% year-over-year [7]