#USA #New York #Investment Services #UP Fintech #Tiger Brokers

UP Fintech Reports Stellar Financial Performance

UP Fintech Holding Limited (NASDAQ: TIGR), widely known as Tiger Brokers, has achieved impressive financial results for the fourth quarter and full year ending December 31, 2024. The firm reported a substantial revenue increase to $124.1 million in Q4, representing a remarkable 77.3% year-over-year (YoY) growth. Simultaneously, full-year revenues reached $391.5 million, which reflects a 43.7% YoY increase. The company's non-GAAP net income for Q4 reached $30.5 million, which is an astonishing 2772.5% higher than the previous year, culminating in record profits for the firm. Moreover, their total funded client assets have now surged to an enviable $41.7 billion, affirming UP Fintech's robust market position.

Throughout Q4, UP Fintech welcomed 81,300 new accounts, resulting in a total of 2.4 million global accounts by year-end. The growth trajectory continued with the addition of 59,200 funded clients—up 51.4% YoY. For the entire year, the firm recorded a total of 187,400 new funded accounts. A significant highlight is the unprecedented trading activity, with total trading volume skyrocketing 142.2% YoY to $198 billion, underpinned by net asset inflows that reached $1.1 billion due to both individual and institutional investments.

Expansion Strategies Shaping Future Growth

Driving UP Fintech's expansion are strategies focusing on both retail and institutional growth. CEO Wu Tianhua emphasized the company's commitment to deepening market penetration while maintaining trust and support from their clients. The company has marked its tenth anniversary with rapid geographical expansion into Singapore, Hong Kong, New Zealand, Australia, and the U.S., contributing to record total client assets and user base growth. U.S.-based clients saw a notable rise in trading volume due to favorable market conditions as well, with options trading witnessing a significant surge of 384% in volume.

Under the umbrella of diverse financial services, UP Fintech has successfully positioned itself as a premier provider for high-net-worth individuals and institutional clients alike. During the fourth quarter, the Singapore market performed impressively, seeing trading volume and commission income increase dramatically—by 415% and 158% YoY, respectively.

Key Market Highlights and Innovations

UP Fintech's global operational efficiency and innovative offerings were pivotal in achieving these milestones. Noteworthy is the Cash Boost trading account introduced in Singapore, which provides unique opportunities in wealth management. The company's collaboration with local licensed institutions has led to the launch of the Tiger BOSS Debit Card, the first of its kind offering fractional shares as rewards, significantly enhancing user experience and engagement.

In the rapidly evolving Hong Kong market, UP Fintech achieved a 48% YoY increase in account openings, alongside significant doubling of trading activity and client assets during Q4. Furthermore, the company achieved licensing success for its subsidiary, YAX (Hong Kong) Limited, enabling the provision of integrated asset management services.

Additionally, UP Fintech's Australian operations recorded substantial growth, with new account openings rising by 148% YoY, supported by the introduction of A-Share Connect trading, which facilitates investments in Chinese mainland stocks. The New Zealand branch also showcased impressive growth metrics, particularly in total client deposits and trading volume.

Future Outlook: Innovation and Market Leadership

Tiger Brokers continues to enhance its offerings to meet the evolving needs of contemporary investors, with initiatives that incorporate advanced AI technologies such as TigerGPT, designed to provide personalized investment insights. The firm is committed to improving its customer services and expanding its product range to appeal to an increasingly diverse clientele.

As UP Fintech looks to the future, its focus on globalization, adoption of technological advancements, and robust market strategies will undoubtedly position it as a formidable player in the global brokerage landscape. The comprehensive financial insights, continuous service enhancements, and the growing recognition in Asian markets stand as testament to the company's trajectory.

In conclusion, UP Fintech's record-breaking performance and forward-thinking strategies exemplify its commitment to redefining global investing and catering to an ever-expanding investor base, depicting a promising trajectory as it embraces its next chapter in financial technology and brokerage.