UP Fintech Cracks it Again, Posts 59.6% Revenue Gain in Q3

The TigerBrokers Corporation, which operates as UP Fintech Holding Limited and has been in operation since 2016 with a focus on trading stocks online for investors of all kinds; has published unaudited financials this past quarter reporting an impressive 59% yearly jump.

The total revenue touched $60.8 million that remained almost flat when compared to the same figure of last quarter, despite yearly upward drag! The latest number came in much lower than Q1’s figure-a whopping 26% decrease from this time last year alone!

The wrapped up Q3 with net revenue of $56.6 million, an impressive 60.9 percent higher than the same quarter of last year! Out of this total amount that came from commissions alone there was a whopping 33.5 Million in gains and 2-and 17 -million dollars made up by financing services fees or interest income respectively This demonstrates just how successful they’ve been through these recent hard times; it also shows why we’re going to have them around for as long as possible.

In addition, the net income of this broker has suddenly rocketed up to new heights. They were only at $5.8 million but last year that number jumped way over into double digits with an astonishing $20.5 mil!! 

New Clients Onboard

The broker has added over 500,000 funded accounts in Quarter three of this year. The numbers are impressive and show how well they have been doing for themselves financially as their business continues to grow at breakneck speeds!

The broker mentioned that 80% of the new funded accounts were from outside China. This is a fantastic statistic because it means international investors are betting on Chinese market stability and growth, which we all know will continue into next year!

Speaking of the same, Wu Tianhua, the CEO and Director of Fintech, had this to say, 

“I am pleased to announce that the Company delivered notable accomplishments since the second quarter.”

In the last few months, UP FIntech has made a major acquisition that has allowed them to expand their presence across Asia. They bought Hong Kong-based Ocean Joy Securities for an undisclosed sum, acquiring all shares from its members including management personnel willing participate sales agreement or not.

If anything, such moves show how confident CEO Wu Tianhua feels about his company’s prospects as well as our confidence too!

“We are excited to formally launch our brand in Hong Kong and welcome local residents to invest globally in our innovative fintech platform,” Tianhua added. “Hong Kong is one of the world’s premier centers of finance and commerce, and the Company looks forward to building our local client base and contributing to the growth of its vibrant and dynamic capital market.”