智通财经APP获悉，周三，纳斯达克中国金龙指数跌超2%，热门中概股普跌，向上融科(TIGR.US)跌近 10%，理想汽车(LI.US)、小鹏汽车(XPEV.US)跌超5%，阿里巴巴(BABA.US)、富途控股(FUTU.US)跌超 2%。此外，今日恒指跌1.27%，沪指跌1.76%。 ...

UP Fintech (TIGR) Q2 2025 Earnings Call August 27, 2025 08:00 AM ET Company ParticipantsAaron Li - Head - IRJohn Zeng - CFO & DirectorCindy Wang - DirectorConference Call ParticipantsJudy Zhang - Vice President & Equity AnalystDennis Bai - AnalystOperatorLadies and gentlemen, thank you for standing by, and welcome to the UP Fintech Holding Limited Second Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. There will be a presentation followed by a q ...

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 ...

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]

Financial Performance - UP Fintech reported total revenues of US$138.7 million for Q2 2025, marking a 58.7% increase year-over-year and a 13.1% increase quarter-over-quarter [6][8] - The net income attributable to ordinary shareholders reached US$41.4 million, a significant increase of 36.2% from the previous quarter and approximately 15 times higher compared to the same period last year [2][14] - Non-GAAP net income attributable to ordinary shareholders was US$44.5 million, reflecting a 23.5% sequential increase and nearly 8 times growth year-over-year [2][15] Customer Growth and Engagement - The company added 39,800 new customers with deposits in Q2 2025, bringing the total number of customers with deposits to 1,192,700, a 21.4% increase year-over-year [3][8] - Year-to-date, UP Fintech has onboarded over 100,000 new customers with deposits, reinforcing its annual target of 150,000 new customers for 2025 [3] - The average net asset inflow of newly acquired funded clients reached a record high of over US$20,000 this quarter, with clients in Hong Kong and Singapore averaging around US$30,000 [3] Trading and Account Activity - The total account balance increased by 36.3% year-over-year to US$52.1 billion, driven by robust asset inflows and a US$3.2 billion mark-to-market gain [8] - Trading volume for Q2 2025 was US$284.0 billion, a substantial increase from US$105.9 billion in the same quarter last year [6][8] - The number of options and futures contracts traded rose to 22,432.3 thousand in Q2 2025, up from 12,175.1 thousand in Q2 2024 [5] New Product Offerings - In July 2025, UP Fintech launched new trading features for Central Provident Fund (CPF) and Supplementary Retirement Scheme (SRS) accounts in Singapore, allowing eligible clients to invest retirement funds in approved financial products [4] Corporate Business Activities - The company underwrote 7 Hong Kong IPOs and 4 U.S. IPOs in Q2 2025, including notable names such as "Chagee" and "Zhou Liu Fu Jewelry" [5] - UP Fintech added 30 new clients in its Employee Stock Ownership Plan (ESOP) business, bringing the total number of ESOP clients to 663 as of June 30, 2025 [5]

Group 1 - Tiger Securities (TIGR) opened up by 4.96% on August 25, reaching $13.34 per share, with a trading volume of $13.01 million and a total market capitalization of $2.357 billion [1] - As of March 31, 2025, Tiger Securities reported total revenue of $123 million, representing a year-over-year growth of 55.3%, and a net profit attributable to shareholders of $30.42 million, reflecting a significant increase of 146.71% [1] Group 2 - On August 27, Tiger Securities is scheduled to disclose its mid-year report for the fiscal year 2025 before the market opens (Eastern Time) [2] - UP Fintech Holding Limited is recognized as a leading online brokerage firm focused on global Chinese investors, providing a self-operated trading platform that allows investors to trade stocks and other financial instruments across multiple exchanges [2]

Group 1 - The Nasdaq China Golden Dragon Index rose over 3%, indicating a positive trend for Chinese concept stocks [1] - NIO saw a significant increase of 18.32%, leading the gains among the component stocks [2] - Other notable performers included VNET with a rise of 16.97% and MNSO with an increase of 16.44% [2] Group 2 - Tiger Securities (TIGR) increased by 13.49%, while Kingsoft Cloud (KC) rose by 8.99% [2] - Smaller gains were observed in companies like Xiaoying Technology (XYF) at 8.55% and RLX Technology at 7.14% [2] - Other companies such as Lufax (LU) and Zhongjin Ke Industrial (ZJK) also experienced gains of 6.72% and 6.44% respectively [2]

Group 1 - Tiger Securities (TIGR) experienced a 10.15% increase in stock price, reaching $12.37 per share with a trading volume of $75.27 million and a total market capitalization of $2.185 billion as of August 22 [1] - For the fiscal year ending March 31, 2025, Tiger Securities reported total revenue of $123 million, representing a year-over-year growth of 55.3%, and a net profit attributable to shareholders of $30.42 million, which is a significant increase of 146.71% [1] Group 2 - Tiger Securities is set to release its fiscal year 2025 interim report on August 27, prior to the market opening (Eastern Time), with the actual disclosure date subject to company announcement [2] - UP Fintech Holding Limited, the parent company of Tiger Securities, is a leading online brokerage firm focused on global Chinese investors, providing a self-operated trading platform that allows investors to trade stocks and other financial instruments across multiple exchanges [2]