UP Fintech: Profit Hits Record High; Client Assets Reached US$45.9 Billion
UP Fintech: Profit Hits Record High; Client Assets Reached US$45.9 Billion |
| [30-May-2025] |
NEW YORK, May 30, 2025 /PRNewswire/ -- UP Fintech Holding Limited (NASDAQ: TIGR) ("UP Fintech" or the "Company"), announced its unaudited financial results for the first quarter ended March 31, 2025. UP Fintech achieved a total revenue of US$122.6 million in the first quarter, representing a 55.3% increase year-over-year (YoY). Non-GAAP net income attributable to UP Fintech shareholders surged to US$36 million, up 18.3% quarter-over-quarter (QoQ) and 145% YoY, hitting a historical record. The company added 77,000 new accounts in Q1, up 49.8% YoY, bringing its total global accounts to 2.53 million. Funded accounts increased by 60,900, driving total funded clients up 23.5% YoY to 1.15 million. Trading volume in Q1 soared 154.6% YoY to US$217.5 billion. Net deposits remained robust at US$3.4 billion, propelled client assets to US$45.9 billion, nearly a 10% QoQ and 39.5% YoY increase, reaching a record high. UP Fintech's founder and CEO, Wu Tianhua, stated: "In Q1, the company achieved breakthroughs in both financial and operational aspects, with sustained growth in revenues and profits. Notably, non-GAAP net profit surged 145% YoY, reaching a record high. Tiger has gained recognition from more HNW clients across markets — total client assets in Greater China grew over 20% QoQ, with new funded clients in Hong Kong averaging over US$30,000 in net asset inflows. As of now, Q1 new funded clients have already achieved 40% of the annual guidance, providing a solid user foundation for our full-year performance goals." "To further enhance the trading experience for platform users, Tiger has continuously optimized and innovated its product features. Recently, we also officially launched cryptocurrency deposit and withdrawal services in Hong Kong. Investors can now seamlessly manage mainstream cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) through our flagship trading app. Additionally, Tiger has strengthened its AI capabilities with the upgrade from TigerGPT to TigerAI, now offering watchlist, portfolio and options analysis for smarter, data-driven decisions. We've also enhanced options and US stock trading with features like options position analysis, TP/SL for combo strategies, and historical intraday data — improving user experience and lowering the barrier to global investing." SG: Q1 Trading Volume Up 81.5% YoY, Wins Three "AAA Digital Awards" from The Asset HK: Attracting HNW Clients with Average Net Asset Inflows Exceeding US$30,000 In Singapore, Tiger Brokers maintained strong growth momentum, with trading activity continuing to rise. Total trading volume and orders in Singapore surged 81.5% and 65.8% YoY, respectively. US stock and Singapore stock trading volumes grew 71.3% and 61.2% YoY, while US options trading stood out, with trading volume and orders skyrocketing 127.7% and 82.1% YoY. The Cash Boost trading account remained popular among local investors, with Q1 orders up 11.4% QoQ and active traders increasing 12.5% QoQ. Tiger also strengthened its local presence with the launch of the L.E.A.P. Program, designed to cultivate Singapore's next generation of financial talent — reinforcing its long-term commitment to the industry's growth. Additionally, Tiger received three accolades at The Asset magazine's 2025 "AAA Digital Awards," including "Digital Broker of the Year" and "Best Brokerage App" in Singapore, while its subsidiary Tiger Fund Management was honored as "Digital Fund Manager of the Year". Hong Kong continued to attract high-quality clients with Tiger's competitive global trading services. In Q1, local account openings rose 27% QoQ, and new funded clients averaged over US$30,000 in net asset inflows. The Hong Kong stock market demonstrated strong appeal, with trading orders and trading volume for Hong Kong stocks rising 51.7% and 78% QoQ, respectively. Hong Kong options trading saw explosive growth, with trading orders and volume surging 7x and 10x QoQ, highlighting robust demand for derivatives. Cash products remained popular, with the US Treasury trading volume increasing 90% QoQ, HKD money fund orders and volume rising 88% and 94.5% QoQ, and USD money fund orders and volume rising 62% and 89% QoQ. Additionally, Tiger officially launched cryptocurrency deposit and withdrawal services in Hong Kong, allowing investors to manage popular cryptocurrencies like BTC and ETH seamlessly on its platform. In the US, TradeUP sustained strong momentum across key metrics, reflecting improved overall business performance. Local client trading activity surged, with trading volume up 131% QoQ. New funded clients grew 28.4% QoQ, while client assets rose 19% QoQ. Strengthened institutional business capabilities drove further scale, with Q1 commission revenue jumping 56.4% QoQ. In Australia, the Company earned growing trust from clients with strengthened services and brand presence. In Q1, deposit amounts and funded clients rose by 71% and 37% YoY, showcasing strong business momentum. Tiger also won multiple local awards, including winning WeMoney 2025's "Best Features Award," and securing two awards in Mozo's Expert Choice Awards for 2025 "Online Share Trading – Casual ASX and ETF Investor" categories. Tiger Brokers Australia was also ranked as number one on Finder's best options trading platforms list for 2025. In New Zealand, Tiger continued to attract high-quality clients. In Q1, net deposits surged 211.7% YoY and 66.6% QoQ. The number of trading accounts climbed 74% YoY, with particularly strong performance in the US market — US equities orders increased 108.8% YoY, while US options orders jumped 161.5%, reflecting strong local investor interest in US markets. TigerAI Gets Major Upgrade, Options Features Further Enhanced IPO Subscriptions Jump 11x, Tiger Hits HK$ 100B Milestone in Mixue IPO Subscription In Q1, commission income reached US$58.3 million, up 109.8% YoY, while interest-related income grew 20.8% YoY to US$56.4 million. The Company continues to enhance its platform features to further improve user experience and efficiency in global asset allocation. The Tiger Trade app launched a dedicated crypto section for easy access to crypto prices, related concept stocks, and ETFs - enabling a more streamlined way to capture market opportunities. Trade feed added Super Disclosure feature allowing users to view full trading history, positions, and returns in the past three months. This allows users to intuitively refer to the strategy logic of high-yield live trading accounts. The platform also introduced a consolidated account analysis page and added a P&L view in the fund section to help users better evaluate portfolio performance. Options trading tools were further strengthened with position analysis, support for take-profit/stop-loss in combo strategies, and new volatility metrics like IV rankings and percentiles - helping users better assess risk and opportunity. US equities, the Fear & Greed Index and historical intraday data for stocks and options have also been added to support more informed, data-driven decisions. Following a major upgrade, TigerAI now offers options, portfolio, and watchlist analysis assistants - delivering smarter, more personalized investment insights to help users make faster, more informed decisions. IPO subscription business sustained explosive growth, with subscribers up 11x YoY and subscription volume soaring 800x YoY and 13x QoQ. Nearly 40% were first-time subscribers, underscoring strong appeal to new users. Tiger delivered a standout performance across several high-profile IPOs, most notably achieving a record-breaking subscription amount of over HK$ 100 billion in the Mixue Group Hong Kong listing. The Company's wealth management business grew steadily, with Q1 AUC surging 205% YoY in Q1. The number of users rose 85% YoY and 41% QoQ. Wealth penetration reached 22% among newly funded clients in Q1 — meaning 1 in every 5 new Tiger clients subscribed to at least one wealth product. With the rebound of the Hong Kong stock market, demand for Wealth products among local clients has grown significantly, with a 31.5% wealth penetration rate among new clients in the region. As market dynamics shift between US and Chinese equities, Tiger's cash management tool, Tiger Vault, continued to gain strong traction. In Q1, Tiger Vault's total AUC rose nearly 44% QoQ, while its user base grew over 22.5%. Growth in HKD Vault products was particularly notable, with AUC up 113% and users up over 70% QoQ. In addition, Tiger continues to enrich its structured product offerings by leveraging technology to enhance traditional private banking solutions, aligning with market momentum and investor demand. With growing interest and repeat investment from high-net-worth clients, structured note trading volume rose nearly 42% QoQ. The TradingFront Turnkey Asset Management Platform (TAMP) continued to strengthen its service capabilities. In Q1, wealth management AUC on the TradingFront platform achieved double-digit QoQ growth, with auto-invest accounts up 20.8%. The platform expanded its structured product offerings to cover more note types, including Sharkfin, SDFCN, BEN, and DQ, supporting institutional clients in diversifying their portfolios. As a result, total structured note trading volume on the platform increased 53.6% QoQ, driving strong overall business growth. In Q1 2025, Tiger's asset management team was among the first to flag risks of a major US market pullback with its "Rise of the East, Decline of the West" outlook. The team focused on key themes like China's AI momentum and macro asset allocation under tariff tensions, delivering timely insights and exclusive sessions for high-net-worth clients. Thanks to its disciplined strategy and market foresight, Tiger's asset management products outperformed with lower downside risk, earning strong trust and continued support from its HNW client base. Investment Banking: Underwrote 4 HK IPOs, Participated in Top 3 HK IPOs ESOP SaaS Revenue Grows Steadily with Rising Client Retention UP Fintech's other revenues, encompassing services such as investment banking and Employee Stock Ownership Plan (ESOP), reached US$7.9 million. The Company underwrote 4 Hong Kong IPOs, including BrainAurora Medical Technology, Contiocean Environment Tech Group, Chifeng Gold and Nanshan Aluminum. It also participated in the distribution of the top three Hong Kong IPOs by fundraising volume in Q1. Notably, Tiger played a key role in the record-breaking IPO of Mixue Group, which saw a subscription multiple of 5,324 times and total demand reaching HK$1.84 trillion. Tiger offered up to 200x leverage for the deal with an average of 108x across all participants and attracted over 10,000 subscribers. On the ESOP front, the Company's UponeShare service added 20 enterprise clients this quarter, bringing the total number of serviced enterprise clients to 633. Meanwhile, the company's ESOP SaaS revenue increased 45.4% YoY. Backed by strong service capabilities and positive client feedback, customer loyalty continued to rise, with repeat order value increasing 32.7% YoY. Tiger Enterprise Account onboarded 12 clients in Q1, including Pony.ai and Hesai Technology, bringing the total number of corporate accounts to 478. Tiger partnered with Kuaishou to livestream the 2025 Magnetic Conference, which explored how AI is reshaping the entire marketing and business value chain — offering investors a panoramic view of the next-generation AI-driven commercial ecosystem. Tiger also streamed Lei Jun's Lunar New Year broadcast and the REDMI Turbo 4 launch, offering insights into trends in consumer electronics. About UP Fintech UP Fintech Holding Limited (Nasdaq: TIGR), also known as Tiger Brokers, is a leading online brokerage firm with a focus on redefining global investing with technologies for the next generation. Founded in 2014, the Company relentlessly offer superior user experience in pursuit of becoming a world-leading online brokerage, to let everyone enjoy efficient and smart investing. Currently, we offer a multitude of quality financial products and services across brokerage, employee stock ownership plan (ESOP) management, investment banking, wealth management, investor community, and investor education. In March 2019, UP Fintech was listed on Nasdaq under the ticker TIGR. As of now, we serve over 10 million users and 2.5 million account holders worldwide on our flagship platform "Tiger Trade", own 81 licenses and qualifications in different markets, and have over 1,000 employees on the team in Singapore, New Zealand, the US, Hong Kong SAR, Australia and Mainland China. For more information about UP Fintech as a company, please visit itiger.com
SOURCE UP Fintech Holding Limited | ||
Company Codes: NASDAQ-NMS:TIGR |
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