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Financial Position - As of December 31, 2023, the company's cash and cash equivalents were US$322.6 million, up from US$277.7 million in 2022[616]. - Net cash used in operating activities in 2023 was US$6.6 million, compared to net income of US$33.0 million, primarily due to an increase in financial instruments held at fair value by US$249.2 million[620]. - The company reported net cash provided by financing activities of US$1.8 million in 2023, a decrease from US$4.7 million in 2022 and US$330.9 million in 2021[626]. - The net cash provided by operating activities in 2022 was US$258.1 million, contrasting with a net loss of US$2.3 million for that year[621]. - The total cash flow from investing activities in 2023 was a net outflow of US$7.8 million, primarily due to purchases of term deposits and property[625]. Research and Development - Research and development expenses for 2023 amounted to US$63.5 million, an increase from US$60.1 million in 2022 and US$47.8 million in 2021[632]. Capital Expenditures - Capital expenditures were US$2.8 million in 2023, down from US$4.9 million in 2022 and US$5.0 million in 2021, indicating a trend of reduced investment in physical assets[627]. Financial Instruments and Risks - The company has not utilized any derivative financial instruments to hedge foreign currency risks, which may impact financial results due to exchange rate fluctuations[613]. - The company maintained a minimum net capital requirement in compliance with SEC regulations, ensuring financial health against exposure risks[614]. Shareholder Information - Major shareholders include Xiaomi Corporation with 10.40% of Class A shares and Tigerex Holding Limited with 8.88%[674]. - Tianhua Wu, a director, holds 11.79% of ADS and 19.41% of Class A shares, representing a total voting power of 55.48%[674]. - Mr. Wu controls 55.48% of the aggregate voting power of the company through Class B ordinary shares, allowing him to influence shareholder decisions[682]. Employee Information - As of December 31, 2023, the company had 1,109 employees, a decrease from 1,134 in 2021 and an increase from 1,040 in 2022[670]. - The employee distribution by department shows that 44.7% (495 employees) are in research and development and technology, while 15.1% (168 employees) are in business and customer support[672]. Compensation and Benefits - The company recorded an aggregate compensation of RMB2.1 million (US$0.3 million), HKD2.0 million (US$0.2 million), and US$0.4 million in cash to executive officers and directors in 2023[648]. - The company has not set aside or accrued any amount for pension or retirement benefits for directors and executive officers[648]. - Share-based compensation expense is subject to significant estimation uncertainties, which may lead to material differences in recorded amounts[638]. Governance and Compliance - The company does not meet the diversity objectives of Nasdaq Rule 5605(f)(2) due to the resignation of a board member in 2022[658]. - The audit committee is responsible for overseeing accounting and financial reporting processes, including appointing independent auditors[660]. - The compensation committee reviews and approves compensation structures for directors and executive officers[661]. - The nominating and corporate governance committee is tasked with selecting qualified individuals for board positions and ensuring board diversity[662]. - There are no familial relationships among the company's directors or senior managers, ensuring independence in governance[647]. Plans and Agreements - The 2018 Share Incentive Plan allows for the issuance of up to 254,697,314 Class A ordinary shares, increased from the original 187,697,314 shares[649]. - The 2019 Performance Incentive Plan permits the grant of a maximum of 52,000,000 ordinary shares, with an additional 10,429,305 shares added in December 2020[650]. - The 2019 Plan has a term of ten years, with the board of directors authorized to amend or terminate the plan[653]. - The company has entered into individual employment contracts with selected employees covering non-competition and confidentiality arrangements[672]. Related Party Transactions - Amounts due from directors and executive officers as of December 31, 2023, were US$7.0 million, while amounts due to them were US$10.1 million[692]. - Revenue from brokerage services and margin loans to directors and executive officers for the year ended 2023 was US$1.5 million[692]. - As of December 31, 2023, the total amount due from Alphalion Group was US$1.0 million, with IT service fees paid amounting to US$0.15 million[691]. - The company converted US$3.1 million in short-term loans into a 25% equity interest in Alphalion Technology Holding Limited in February 2019[690]. Taxation - The effective income tax rate is determined based on estimates regarding taxable and deductible items across various jurisdictions[636]. - The company maintains a valuation allowance for deferred tax assets, requiring significant judgment regarding future taxable income projections[637]. Risk Management - The board of directors is responsible for risk management oversight, with senior management handling day-to-day risk management processes[668]. - Mr. Tianhua Wu intends to sell up to 10 million ADSs under a Rule 10b5-1 plan, with none exercised as of March 31, 2024, due to deep out-of-the-money strike prices[680]. Operational Structure - The company operates in China through contractual arrangements with Beijing Rongke and Beijing Yiyi to comply with foreign ownership restrictions[684].

UP Fintech Holding Limited (NASDAQ:TIGR) Q4 2023 Earnings Conference Call March 20, 2024 8:00 AM ET Company Participants Tianhua Wu - Chairman, Chief Executive Officer John Zeng - Chief Financial Officer Huang Lei - Chief Executive Officer, U.S. Tiger Securities Kenny Zhao - Financial Controller Aaron Li - Head of Investor Relations Conference Call Participants Cindy Wang - China Renaissance Judy Zhang - Citi Han Pu - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to UP Fintech ...

SINGAPORE and NEW YORK, March 20, 2024 /PRNewswire/ -- UP Fintech Holding Limited ("UP Fintech" or the "Company", Nasdaq: TIGR, and all its subsidiaries and consolidated entities), a leading online brokerage firm committed to redefining global investing through next-generation technologies, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023. In the fourth quarter, the Company achieved a revenue of US$70 million. For the year ended 2023, total revenue ...

SINGAPORE, March 20, 2024 (GLOBE NEWSWIRE) -- 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 fourth quarter and full year ended December 31, 2023. Mr. Wu Tianhua, Chairman and CEO of UP Fintech stated: "In 2023, our topline mix benefited from our strategy execution on internationalization and the high interest rate environment. Total revenue in the fourth quarter w ...

Core Viewpoint - UP Fintech Holding Limited will report its financial results for Q4 and the full year of 2023 on March 20, 2024, before the U.S. market opens [1] Group 1: Financial Reporting - The financial results will cover the fourth quarter and the full year ended December 31, 2023 [1] - An earnings conference call is scheduled for 8:00 AM on March 20, 2024, U.S. Eastern Time [1] Group 2: Conference Call Information - Participants must preregister online to receive dial-in numbers for the conference call [2] - A registration link is provided for participants to RSVP [3] - Confirmation emails will include participant dial-in numbers and personal PINs [3] Group 3: Company Overview - UP Fintech is a leading online brokerage firm targeting global investors [4] - The company offers a mobile and online trading platform for trading equities and other financial instruments [4] - It employs a "mobile first" strategy to enhance user experience and attract new customers [4] - The company provides comprehensive brokerage services, including trade execution, margin financing, and investor education [4]

SINGAPORE, March 11, 2024 (GLOBE NEWSWIRE) -- UP Fintech Holding Limited ("UP Fintech" or the "Company") (NASDAQ:TIGR), a leading online brokerage firm focusing on global investors, today announced that it will report its financial results for the fourth quarter and full year ended December 31, 2023, before the U.S. market opens on March 20, 2024. UP Fintech's management will hold an earnings conference call at 8:00 AM on March 20, 2024, U.S. Eastern Time (8:00 PM on March 20, 2024, Singapore/Hong Kong Time ...

SINGAPORE, Jan. 25, 2024 (GLOBE NEWSWIRE) -- UP Fintech Holding Limited (NASDAQ:TIGR) ("UP Fintech" or the "Company"), a leading online brokerage firm focusing on global investors, today announced that its Hong Kong subsidiary has officially upgraded its Type 1 license to include virtual asset dealing service, making it one of the first mainstream online brokerage firms in Hong Kong to receive approval for such a license upgrade. This successful upgrade opens the door for providing cryptocurrency trading se ...

UP Fintech Holding Limited (NASDAQ:TIGR) Q3 2023 Earnings Conference Call November 27, 2023 8:00 AM ET Company Participants Aaron Li - Head, IR Tianhua Wu - CEO John Zeng - CFO Conference Call Participants Han Pu - CICC Cindy Wang - China Renaissance Alan Kuang - Citibank Operator Ladies and gentlemen, thank you for standing by, and welcome to UP Fintech Holdings Limited Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. There will be a presentation follow ...

UP Fintech Holding Limited (NASDAQ:TIGR) Q2 2023 Earnings Conference Call August 29, 2023 8:00 AM ET Company Participants Tianhua Wu - Chief Executive Officer John Zeng - Chief Financial Officer Aaron Li - Head, Investor Relations Conference Call Participants Han Pu - CICC Judy Zhang - Citi Cindy Wang - China Renaissance Ling Ta - Daiwa Capital Markets Operator Ladies and gentlemen, thank you for standing by, and welcome to UP Fintech Holdings Limited second quarter 2023 earnings conference call. At this ...