互联网券商内地违规揽客？老虎证券2024年港股总开户人数同比大增48%

Core Viewpoint - Tiger Brokers, a cross-border internet brokerage, is reportedly violating regulations by illegally acquiring new clients in mainland China through forged documents and other means [2][6] Group 1: Regulatory Issues - In 2022, the China Securities Regulatory Commission (CSRC) identified Tiger Brokers as operating illegally in the securities business [6] - The CSRC has mandated that cross-border internet brokerages like Tiger Brokers and Futu cease operations targeting mainland investors, labeling their activities as "illegal" [6] - Despite restrictions on acquiring new mainland clients, Tiger Brokers continues to recruit extensively across multiple cities in China [2][6] Group 2: Business Operations and Performance - Tiger Brokers was founded in 2014 and went public on NASDAQ in 2019, initially benefiting from favorable policies for cross-border investments [5][6] - The company reported significant growth in its financial performance, with a 71.8% year-on-year increase in commission revenue to $159 million for the full year of 2024 [6] - In the first quarter of 2025, the number of new Hong Kong stock accounts opened by Tiger Brokers increased by 27% quarter-on-quarter, with trading volume rising by 78% [6] Group 3: Market Trends and Investor Behavior - The Hong Kong IPO market is experiencing a resurgence, with a 30% year-on-year increase in new listings and a total fundraising of approximately HKD 77.7 billion, a sevenfold increase [7] - Mainland investors face stringent requirements to access Hong Kong stocks through "Stock Connect," leading some to seek alternative methods via internet brokerages like Tiger Brokers [8] - Tiger Brokers plans to double its workforce in Hong Kong over the next two to three years to capture a larger share of the growing offshore wealth market [8]