Company Overview - The company is a leading US stock trading platform with rapid growth in both customer quantity and quality [1] - Founded in 2014, the company has expanded its licenses through acquisitions in regions including the US, Australia, Hong Kong, and Singapore [1] - The founder holds high voting rights as the largest shareholder, while Xiaomi is the second-largest shareholder [1] - The company achieved its first profitable quarter in 2023 under Non-GAAP standards [1] Financial Performance - Net revenue grew from $55 million in 2019 to $226 million in 2023, with a CAGR of 43% [15] - Commission and interest income remain the primary revenue sources, accounting for 80% of total revenue [15] - In 2023, the company achieved a Non-GAAP net profit of $43 million, with a net margin of 16% [16] - Customer assets reached $30.6 billion by the end of 2023, a 118% year-over-year increase [23] Market Expansion - The company entered the Singapore market in 2020 and has maintained a leading position with innovative products like the Tiger Boss card [48] - In Hong Kong, the company has expanded its licenses and is leading in the virtual asset sector [6] - The company has actively expanded into overseas markets, including the US, Australia, and New Zealand, with a relatively complete set of licenses in the US [6] User Growth - The number of funded accounts grew from 110,000 in 2019 to 900,000 in 2023, with a CAGR of 68% [21] - The conversion rate of funded accounts increased from 17% in 2019 to 41% in 2023 [21] - Average customer assets reached $35,000 by Q1 2024, a 77% year-over-year increase [23] Competitive Advantages - The company has a first-mover advantage in Singapore, entering the market earlier than competitors and continuously launching new products to solidify its position [48] - In Hong Kong, the company has made significant progress in virtual asset trading, becoming the first mainstream online brokerage to upgrade its license to include virtual asset trading services [6] - The company's commission rates are competitive, with lower fees compared to traditional brokers in Singapore and Hong Kong [45][46] Industry Trends - The company benefits from the beta resonance of US and Hong Kong stock markets, with commission income driven by market trends and interest income influenced by market interest rates [34] - In Singapore, the company has capitalized on the high proportion of Chinese residents and the growing interest in stock investments [38][39] - Hong Kong is expected to become the world's largest wealth management center by 2025, with a significant portion of assets invested in stocks, providing growth opportunities for the company [49][50]

Ladies and gentlemen, thank you for standing by and welcome to the UpFintech Holding Limited first quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question and answer session. I must advise you that this conference is being recorded today, June the 5th, 2024. I would now like to hand the conference over to your first speaker today, Mr. Aaron Li, the Head of Investor Relations. Thank you. Please go ahead. Thank you, o ...

UP Fintech Holding Limited (NASDAQ:TIGR) Q1 2024 Earnings Conference Call June 5, 2024 8:00 AM ET Company Participants Aaron Li - Head of Investor Relations Tianhua Wu - Chairman and Chief Executive Officer John Fei Zeng - Chief Financial Officer Conference Call Participants Hua Fan - CICC Alan Chen - Citi Operator Ladies and gentlemen, thank you for standing by, and welcome to the UP Fintech Holding Limited First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mod ...

EXHIBIT 99.1 UP Fintech Holding Limited Reports Unaudited First Quarter 2024 Financial Results Singapore, June 5, 2024 – 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 first quarter ended March 31, 2024. Mr. Wu Tianhua, Chairman and CEO of UP Fintech stated: "Market backdrop was more active in the first quarter, total revenue in the first quarter was US$78.9 milli ...

HONG KONG and SINGAPORE and NEW YORK, June 5, 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 first quarter ended March 31, 2024. In the first quarter, the company achieved a total revenue of US$78.9 million, marking a 19% year-over-year (YoY) in ...

Financial Performance - Total revenues for the first quarter of 2024 were US$78.9 million, reflecting a 19.0% increase year-over-year and a 12.8% increase sequentially [3][11] - Commissions increased to US$27.8 million, up 9.2% from US$25.4 million in the same quarter last year, driven by higher trading volume [1][11] - Interest income rose to US$43.8 million, a 26.8% increase from US$34.6 million year-over-year, primarily due to increased margin financing and securities lending activities [1][11] - Net income attributable to ordinary shareholders was US$12.3 million, compared to US$8.0 million in the same quarter last year, marking a significant improvement [6][11] - Non-GAAP net income attributable to ordinary shareholders was US$14.7 million, a 42.4% increase year-over-year [6][11] Operating Costs and Expenses - Total operating costs and expenses were US$50.8 million, an increase of 10.6% from US$45.9 million in the same quarter last year [2][5] - Employee compensation and benefits expenses rose to US$27.8 million, up 13.9% from US$24.4 million year-over-year, due to an increase in global headcount [2][5] - Marketing and branding expenses decreased to US$4.4 million, down 15.3% from US$5.2 million in the same quarter last year, as the company optimized its marketing strategy [5] Customer Growth and Market Position - The company added 28,800 new funded accounts in the first quarter, bringing the total to 933,400, a 15% increase year-over-year [3][11] - The total account balance increased by 103.8% year-over-year to US$32.9 billion, with a net asset inflow of US$5.3 billion in the first quarter [3][11] - The average net asset inflows for new funded clients in Singapore and Hong Kong were approximately US$14,000 and US$18,000 respectively, indicating successful market penetration [3][11] Product and Service Innovations - The company launched several localized products, including the Tiger BOSS Debit Card in Singapore, which allows users to earn fractional shares for every dollar spent [3] - In Hong Kong, the company introduced spot cryptocurrency trading services for professional investors, enhancing its service offerings [3] - The company obtained a Type 9 license from Hong Kong's Securities and Futures Commission to provide asset management services, expanding its capabilities [3]

SINGAPORE, June 05, 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 first quarter ended March 31, 2024. Mr. Wu Tianhua, Chairman and CEO of UP Fintech stated: “Market backdrop was more active in the first quarter, total revenue in the first quarter was US$78.9 million, representing a 12.8% increase sequentially and 19.0% increase compared ...

SINGAPORE, May 21, 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 first quarter ended March 31, 2024, before the U.S. market opens on June 5, 2024. UP Fintech's management will hold an earnings conference call at 8:00 AM on June 5, 2024, U.S. Eastern Time (8:00 PM on June 5, 2024, Singapore/Hong Kong Time). Conference Call Informa ...

SINGAPORE, May 21, 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 first quarter ended March 31, 2024, before the U.S. market opens on June 5, 2024. UP Fintech’s management will hold an earnings conference call at 8:00 AM on June 5, 2024, U.S. Eastern Time (8:00 PM on June 5, 2024, Singapore/Hong Kong Time). Conference Call Inform ...

Effortlessly manage traditional securities and virtual assets with one app Tiger Trade: tailored to meet diverse investment needs  Professional investors can now trade 18 virtual assets, including Bitcoin and Ethereum, through the Tiger Trade app. The one-stop platform enables seamless management of traditional securities and virtual assets, fostering more flexible and diversified asset allocation strategies. HONG KONG, May 6, 2024 /PRNewswire/ -- Tiger Brokers (HK) ("Tiger Brokers (HK)" or "Tiger Brokers ...