周末闲聊，想哪到哪啊。 昨天有不少读者看中了文末提到的4%活期利率，但这个不是墙内人民币的理财产品，是离岸美元的理财产品，我在文章里提到的老虎证券、富途证券、 盈透证券，包括之前的利弗莫尔都是境外券商。 你如果有外汇美元的话，4%收益没什么稀罕的，10年期美国国债收益率最新是4.3%，这些券商只是把国债收益给产品化，集成到了活期理财里。 然后就是有读者提出肉身去香港开离岸银行户，开离岸证券户。我可以确认开离岸银行户是肯定没问题的，至于离岸证券户几个中资券商不行，他们会拒 绝大陆过来的kyc，但我听说有好几个外资券商可以，至于是哪几个我唔知啊，你们开银行户的时候顺便问工作人员咯，这种上下游关联业务的多半有推 荐。 还有读者说让我多讲讲香港见闻，觉得蛮有趣的，其实我也只是匆匆的游客，没有深度体验香港本地生活。因为曾经上百年被英国统辖，那里确实和国内 城市很不一样。 普通人去那里感受最显著的差异就是消费贵，我之前提出过一个4倍理论，就是大部分香港物价除以4，就约等于国内。比如香港打工人月薪大都在20000- 30000区间，除以4就是国内的5000-7500，其它衣食住行等消费也差不多是这个比例。 比如我朋友他家每 ...

Core Viewpoint - UP Fintech Holding Limited will report its financial results for Q4 and the full year of 2024 on March 18, 2025, before the U.S. market opens [1] Group 1: Financial Reporting - The financial results announcement will occur before the U.S. market opens on March 18, 2025 [1] - An earnings conference call is scheduled for 8:00 AM U.S. Eastern Time on the same day [2] Group 2: Conference Call Details - Participants must preregister online to receive dial-in numbers for the conference call [3] - A registration link is provided for participants to RSVP for the earnings conference call [4] - Confirmation emails will include participant dial-in numbers and personal PINs, with a recommendation to dial in 10 minutes prior to the call [5] Group 3: Company Overview - UP Fintech is a leading online brokerage firm targeting global investors, offering a mobile and online trading platform [6] - The company employs a "mobile first" strategy to enhance user experience and attract new customers [6] - Services include trade order placement, margin financing, IPO subscription, and investor education among others [6]

Group 1 - The core focus of the research service is on identifying Asia-listed stocks that exhibit a significant gap between their market price and intrinsic value, particularly emphasizing deep value balance sheet bargains and wide moat stocks [1] - UP Fintech Holding Limited (NASDAQ: TIGR) is rated as a Buy, with trading volume and newly funded accounts more than doubling year-over-year in Q3 2024, indicating strong growth [1] - The shares of UP Fintech are considered undervalued, as the company's earnings multiple is lower compared to its peers [1] Group 2 - The research service provides a range of watch lists with monthly updates, targeting value investors interested in the Hong Kong market [1] - The author of the service is focused on finding hidden champions and high-quality businesses that can be purchased at a discount [1]

Investment Rating - The investment rating for the company is "Cautious Recommendation" [9] Core Views - The company reported a record high total revenue of $101 million in Q3 2024, representing a year-over-year increase of 44%, and a net income of $85.4 million, up 47% year-over-year [1] - The strong growth in brokerage commission income, which reached $41.2 million (41% of total revenue), was driven by a significant increase in trading volume, with total trading volume at $163 billion, a 103% year-over-year increase [2] - The company has successfully exceeded its annual target of adding 150,000 net new funded clients ahead of schedule, with total client assets reaching $40.8 billion, a 116% year-over-year increase [4] Summary by Sections Financial Performance - Q3 2024 total revenue was $101 million, with a net profit of $17.8 million, yielding a net profit margin of 18% [1][3] - Non-GAAP net profit was $20.1 million, with a Non-GAAP net profit margin of 20% [3] Revenue Breakdown - Brokerage commission income grew by 78% year-over-year to $41.2 million, driven by a total trading volume of $163 billion [2] - Interest income was $48 million, accounting for 48% of total revenue, reflecting a 25% year-over-year increase [2] - Other income, including IPO distribution revenue, increased by 70% year-over-year to $9.1 million [2] Cost Management - Total expenses included $3.5 million in execution clearing fees (up 48% year-over-year) and $28.8 million in employee compensation (up 11% year-over-year) [3] - Marketing expenses rose by 59% year-over-year to $8.2 million, with a customer acquisition cost (CAC) of $163 [3] Client Growth and Assets - The company added 51,000 net funded clients in Q3 2024, a 105% year-over-year increase, bringing total funded clients to 1.033 million [4] - Client total assets reached $40.8 billion, marking a continuous increase for eight consecutive quarters [4] Outlook - The company anticipates continued strong performance in Q4, with October showing record highs in trading volume and commission income [5] - The outlook remains positive, with expectations for sustained momentum in trading volume and client inflows [5]

Investment Rating - The report does not explicitly state the investment rating for Tiger Brokers (TIGR) [1][2] Core Views - Tiger Brokers achieved record-high revenue and a 3-year high in net income in Q3 2024, with total revenue reaching $101 million (yoy +44%) and net income of $17.8 million (yoy +34%) [1] - The strong growth in trading volume drove a significant increase in brokerage commission income, which accounted for 41% of total revenue at $41.2 million (yoy +78%) [1] - Interest income, primarily from margin financing, contributed 48% of total revenue at $48 million (yoy +25%) [1] - The company exceeded its annual target of 150,000 new funded clients, with total client assets reaching a record $40.8 billion (yoy +116%) [1] - Q4 trends are positive, with October commission income hitting a new high and trading volume in November showing strong performance [1] Revenue Breakdown - Brokerage commission income: $41.2 million (41% of total revenue, yoy +78%) [1] - Interest income: $48 million (48% of total revenue, yoy +25%) [1] - Margin financing service fee income: $2.8 million (3% of total revenue, yoy -15%) [1] - Other income: $9.1 million (9% of total revenue, yoy +70%) [1] Cost and Profit Analysis - Execution and clearing fees: $3.5 million (yoy +48%) [1] - Employee compensation and benefits: $28.8 million (yoy +11%) [1] - Occupancy, depreciation, and amortization: $2.2 million (yoy -3%) [1] - Communication and market data fees: $9.7 million (yoy +28%) [1] - Marketing expenses: $8.2 million (yoy +59%) [1] - General administrative expenses: $6.9 million (yoy +27%) [1] - Net profit margin: 18% (GAAP), 20% (Non-GAAP) [1] Client Metrics - Net new funded clients in Q3: 51,000 (yoy +105%) [1] - Total funded clients: 1.033 million (yoy +19%) [1] - Total client assets: $40.8 billion (yoy +116%) [1] Market Performance and Outlook - Q3 total trading volume: $163 billion (yoy +103%) [1] - October trading volume and commission income reached record highs, exceeding twice the average monthly levels in the first half of the year [1] - November trading activity showed strong performance, with order volume on November 6 (US election day) up 48% compared to October averages [1]

Financial Data and Key Metrics Changes - UP Fintech Holding Limited reported its third quarter 2024 earnings, with financial results available on their IR website [3] - The company will provide a detailed discussion of financial results during the call [4] Business Line Data and Key Metrics Changes - Specific details regarding the performance of various business lines were not provided in the available content [5] Market Data and Key Metrics Changes - No specific market data or key metrics changes were mentioned in the provided content [5] Company Strategy and Development Direction and Industry Competition - The company will discuss corporate highlights and business operations during the call, indicating a focus on strategic direction [4] Management's Comments on Operating Environment and Future Outlook - Management will provide insights on the operating environment and future outlook during the Q&A session following their remarks [4] Other Important Information - The conference call is being recorded, and participants are in a listen-only mode [1] Q&A Session All Questions and Answers - No specific questions or answers from the Q&A session were included in the provided content [5]

NEW YORK, Nov. 12, 2024 /PRNewswire/ -- UP Fintech Holding Limited (NASDAQ: TIGR) ("UP Fintech" or the "Company"), announced its unaudited financial results for the third quarter ended September 30, 2024. UP Fintech reported record revenue of US$101.1 million in the third quarter, representing a 15.6% increase quarter-over-quarter (QoQ) and a 44.1% increase year-over-year (YoY). Non-GAAP net income attributable to UP Fintech shareholders was US$20.1 million, up 286.5% QoQ and 25.6% YoY. The Company added 60 ...

SINGAPORE, Nov. 12, 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 third quarter ended September 30, 2024. Mr. Wu Tianhua, Chairman and CEO of UP Fintech stated: “Both of our financial and operating performance have achieved significant growth in the third quarter. Total revenue reached US$101.1 million, a historical high and representing ...

SINGAPORE, Oct. 29, 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 the underwriters of the Company’s follow-on public offering have fully exercised their option to purchase an aggregate of 2,250,000 additional American Depositary Shares (“ADSs”), each representing 15 Class A ordinary shares of the Company, from the Company at the public offering price of US$6.25 per ADS. De ...

Company Overview - UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors, offering a proprietary mobile and online trading platform for trading in equities and other financial instruments across multiple exchanges worldwide [5]. - The company employs a "mobile first" strategy to enhance user experience, aiming to better serve and retain current customers while attracting new ones [5]. - UP Fintech provides comprehensive brokerage and value-added services, including trade order placement, margin financing, IPO subscription, ESOP management, investor education, community discussion, and customer support [5]. Financial Reporting - UP Fintech will report its financial results for the third quarter ended September 30, 2024, before the U.S. market opens on November 12, 2024 [1]. - An earnings conference call is scheduled for 8:00 AM U.S. Eastern Time on November 12, 2024, which corresponds to 9:00 PM Singapore/Hong Kong Time on the same day [1]. Conference Call Details - Participants must preregister online to receive dial-in numbers for the conference call, which may take a few minutes to complete [2]. - Upon registration, participants will receive confirmation emails with dial-in numbers and personal PINs to access the call, and they are advised to dial in 10 minutes prior to the start time [4]. - A live and archived webcast of the conference call will be available on the company's investor relations website [4].