Market Performance - A-shares showed strong performance with major indices rising, particularly in the TMT sector, where over 4,400 stocks increased in value [1][4] - The Hang Seng Index also performed well, with an intraday increase of over 2%, reaching a nearly three-year high, while the Hang Seng Tech Index rose over 4% [2][10] Sector Analysis - The TMT sector led the gains, with software services, internet, and IT equipment sectors showing the highest increases. Other sectors like diversified finance, advertising packaging, and media entertainment also performed well, while transportation infrastructure, engineering machinery, and steel sectors lagged [5] Brokerage Performance - The brokerage sector experienced a strong rally, with notable stocks such as First Capital Securities hitting the daily limit, and others like Xinda Securities and Dongfang Caifu also seeing significant gains [6] Concept Stocks - The DeepSeek concept stocks saw a notable rise, with the index increasing over 4% and several related stocks hitting the daily limit or rising more than 10% [7] Individual Stock Highlights - *ST Jiyuan experienced a significant drop of over 19% after announcing the termination of its pre-restructuring and restructuring matters, raising concerns about its potential delisting due to negative net asset projections for 2024 [8] - In the Hong Kong market, Kuaishou-W led the gains with an intraday increase of over 13%, while CK Hutchison saw a rise of over 10% following a previous surge of over 20% [11][12] Company Announcements - Jitu Express announced plans to handle 246.5 billion packages in 2024, a 31% increase from 2023, and highlighted its leading market position in Southeast Asia with a market share of 28.6%, up from 25.4% [14][15]

Financial Data and Key Metrics Changes - BGC Group reported record fourth quarter and full year revenues, growing by 10.8% to $572.3 million, with full year revenues increasing by 11.2% [7][9] - Pre-tax adjusted earnings grew by 16.9% to $129.5 million, while post-tax adjusted earnings increased by 21.9% to $123.5 million, resulting in a post-tax adjusted earnings per share improvement of 19% to $0.25 [17] - Adjusted EBITDA was $192 million, reflecting a 26.7% improvement [17] - Liquidity as of December 31 was $897.8 million, compared to $701.4 million at the end of 2023 [19] Business Line Data and Key Metrics Changes - Brokerage revenues grew by 11.8% to $516.1 million, with rates revenues increasing by 8.8% to $169.6 million due to higher volumes in interest rate derivatives and U.S. Treasuries [10] - DCS revenues surged by 28% to $134.1 million, driven by strong growth in the Energy Complex and the acquisition of Sage Energy Partners [10] - Foreign exchange revenues rose by 21.3% to $93.6 million, primarily due to higher options and emerging market foreign exchange volumes [10] - Credit revenues decreased by 4.9% to $62.4 million, while equities revenues declined by 3.5% to $56.3 million [11] Market Data and Key Metrics Changes - Americas revenues increased by 17.1%, Asia Pacific revenues rose by 10.2%, and Europe, Middle East, and Africa revenues grew by 6.5% [16] - FMX UST generated average daily volumes of over $52 billion for the fourth quarter, translating to over 30% market share, up from 29% last quarter and 26% a year ago [13] - FMXFX volumes improved by approximately 80% compared to last year, achieving record average daily volumes of more than $11 billion [13] Company Strategy and Development Direction - The company expects to close the acquisition of OTC Holdings around the end of the first quarter, which is anticipated to contribute more than $450 million in annual revenues [8][9] - The management emphasized the importance of electronic trading and strategic acquisitions to enhance shareholder value and market position [6][25] - The company aims to maintain a growth trajectory with a target of approximately 10% revenue growth in the core business [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to continue strong revenue growth, with trading volumes currently outpacing the record set in Q1 2024 [7][9] - The leadership transition is expected to be smooth, with Howard Lutnick complying with Senate Ethics Committee standards regarding his holdings [23][24] - The company anticipates total revenues for Q1 2025 to be between $610 million and $660 million, representing approximately 10% growth year-over-year [20] Other Important Information - The company reported that Fenix revenues improved by 8.6% to $142.1 million, with growth driven by higher electronic volumes across rates and foreign exchange [12] - The management highlighted the importance of stock-based compensation for retention and growth, indicating no plans to change this approach [41][42] Q&A Session Summary Question: Timeline of executive leadership transition and planned sale of Howard's BGC shares - Howard will comply with Senate Ethics Committee standards, divesting his holdings within 90 days of confirmation, with no expected sales on the open market [23][24] Question: Contribution of Sage acquisition to revenue growth - Sage added between 1% and 2% to the 11.7% growth in Q4, with similar expectations for Q1 2025 [27] Question: Drivers of pretax adjusted earnings margin expansion - The company benefits from a stable cost base that does not grow in line with revenue, leading to improved margins [28] Question: Progress on FMX and U.S. Treasury futures launch - The company remains on track for the launch, expecting to have 10 FCMs connected by the end of Q1 2025 [34] Question: Revenue expectations from OTC acquisition - OTC is expected to generate around $400 million in annual revenues, with initial margins anticipated to be lower than BGC's core business [38] Question: Treatment of stock-based compensation in earnings - The company believes stock-based compensation is crucial for retention and growth, with no plans to change this practice [41][42]

As filed with the Securities and Exchange Commission on May 31, 2024 Registration No. 333-272274 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Amendment No. 5 to Form F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MERCURITY FINTECH HOLDING INC. (Exact name of registrant as specified in its charter) Cayman Islands 6199 Not Applicable (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Ide ...

As filed with the Securities and Exchange Commission on March 20, 2024 Registration No. 333-272274 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Amendment No. 4 to Form F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MERCURITY FINTECH HOLDING INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Cayman Islands 6199 Not Applicable (I.R.S. Employer I ...

As filed with the U.S. Securities and Exchange Commission on April 26, 2023 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 _________________ AGBA GROUP HOLDING LIMITED (Exact name of registrant as specified in its charter) _________________ British Virgin Islands 6199 N/A (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (IRS Em ...