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UP Fintech: Record-High Quarterly Revenue with Total Client Assets Reaching US$38.2 Billion

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NEW YORK, Aug. 30, 2024 /PRNewswire/ — UP Fintech Holding Limited (“UP Fintech” or the “Company”, NASDAQ: TIGR, and all its subsidiaries and consolidated entities), a leading online brokerage firm committed to redefining global investing through next-generation technologies, today announced its unaudited financial results for the second quarter ended June 30, 2024. In the second quarter, the company achieved a total revenue of US$ 87.4 million, reflecting a quarter-over-quarter (QoQ) increase of 10.8% and a year-over-year (YoY) increase of 32.4%, hitting a new record high. Non-GAAP net income attributable to UP Fintech was US$5.2 million. In the second quarter of 2024, the Company added 60,600 new global account holders, a QoQ increase of 17%, bringing the total number of global accounts to 2.3 million. 48,900 new funded accounts were added, bringing the total number of funded accounts at the end of the second quarter to 982,300, a YoY increase of 17%. Additionally, market trading activity continued to increase in the second quarter, with the Company’s total trading volume growing 62.5% YoY to US$105.9 billion. Net asset inflow remained robust, reaching US$7 billion for the first half of the year, which drove total account balance up by 16.2% QoQ and 121.1% YoY to an all-time high of US$38.2 billion.

UP Fintech’s founder and CEO, Wu Tianhua, stated, “In the second quarter, the company’s business grew significantly as the market environment became more active, with revenue reaching a record high. As of early August, the number of funded clients worldwide has exceeded 1 million, and total client assets have continued to reach new highs for the past three consecutive quarters, fully demonstrating the long-term growth potential of Tiger Brokers.”

“Tiger Brokers is always committed to a ‘Customer First’ approach and has continued to develop local products in markets such as Singapore and Hong Kong to meet the diverse needs of investors. Following the launch of Singapore’s first debit card with fractional share rewards and the Cash Boost trading account in the first quarter, we have received widespread market acclaim, significantly boosting local trading volume and activity. In Hong Kong, after pioneering the offering of virtual asset trading services to professional investors, we have now fully extended this service to retail investors as well. In early August, we launched a ‘Double Free’ promotion, exempting commissions and platform fees, while supporting real-time USD settlement for virtual asset transactions. This provides users with a truly secure, convenient, and cost-effective one-stop global trading service, leading the way in the Hong Kong tech brokerage experience.”

Singapore maintains a leading position with popular local products

Client assets doubled QoQ in Hong Kong in Q2

Singapore’s leading position continues to strengthen, with a 112% QoQ increase in newly funded clients in Q2, a 50% YoY increase in the number of transactions, and a 548% QoQ increase in net asset inflow. US stock options trading also remained active, with the number of transactions increasing by 79% YoY.  In addition, Tiger Brokers is also deepening its focus on local products and services. Following the launch of Singapore’s first fractional share debit card, the “BOSS Debit Card,” in partnership with a local licensed institution* last quarter, we’ve continued to meet the demand for convenient payment solutions, earning positive feedback from the market. In Q2, BOSS Card usage surged, with transaction volumes and user numbers up 258% and 42% quarter-on-quarter, respectively. The card is particularly popular among investors under 35, who account for nearly 60% of new users. Meanwhile, the “Cash Boost” trading account, tailored for experienced traders, has made Tiger Brokers the first tech brokerage in Singapore to support the Contra trading strategy. This account allows clients to obtain trading leverage without depositing funds and has attracted a large number of active users since its launch in April. Recently, Cash Boost trading accounts have also achieved a direct connection with CDP (Central Depository Account). Users can sell securities purchased from other brokers and held in CDP through Tiger Brokers, enjoying greater trading convenience.

For the Hong Kong market, the number of new accounts in Q2 doubled QoQ, while client assets grew by 119% QoQ. The average net asset inflow for new funded clients reached US$15,000, maintaining a high-quality client base. Following the pioneering launch of virtual asset trading services to professional investors in Hong Kong in May, Tiger Brokers has fully expanded these services to retail investors. Recently, Tiger launched a “Double Free” promotion for virtual asset trading, which waives commissions and platform fees, and supports real-time USD settlement for virtual asset transactions, with 7-day, 24-hour trading. Currently, all investors in Hong Kong can trade up to 18 virtual assets**, including Bitcoin (BTC) and Ethereum (ETH), as well as a wide range of global assets such as stocks, options, futures, US Treasuries, and funds through the one-stop Tiger Trade platform, enabling seamless allocation and management of virtual and traditional financial assets. In addition, “Tiger Vault”, the cash management tool, has sustained its popularity, with subscriptions to HKD and USD money market funds increasing by 100% and 50% QoQ respectively in Q2. Trading of both US stocks and options remained robust, with the number of transactions increasing by 62% and 31% QoQ respectively.

Tiger Brokers continues to refine its localized services in Australia, steadily building user trust. As one of the few tech brokers in Australia that support US options trading, Tiger launched Level 2 US options trading in Q2, with US options trading volume increasing by 146% QoQ. At the same time, user trading became more active, with the weekly average of Daily Average Revenue Trades (DARTs) increasing by 17% QoQ. Gross income from trading commissions across all products increased by 47% QoQ. Further solidifying its industry recognition, Tiger Trade Australia was recently awarded ” Best Mobile App” in Finder’s Share Trading Platform Awards 2024. In New Zealand, Tiger continues to attract more high-quality clients. In Q2, client assets grew significantly, with total deposits increasing by 124% YoY and average first-time deposits increasing by 188% YoY. Trading activity was robust, with the number of trading accounts increasing by 133% YoY in Q2. US stock trading performed exceptionally well, with US stock orders increasing by 137% YoY and US options orders increasing by 97% YoY in Q2. Furthermore, Tiger launched its “Tiger Vault” cash management service in New Zealand, further assisting local investors in managing their assets conveniently and efficiently.

Options trading features upgraded comprehensively: Singapore launched “Strike & Save” tool

Tiger Vault surges in Singapore: One out of every three new funded clients activated this feature

In Q2, commission income reached US$34.1 million, a QoQ increase of 22.7%; interest-related income reached US$47.1 million, a 19.9% YoY increase. The Company continues to enhance the one-stop global investment experience on Tiger Trade. In terms of products, options trading features have been further upgraded, with Singapore taking the lead in launching “Strike & Save”, a powerful tool for US options sellers. This one-stop service for opening options positions offers more in-depth analysis and more efficient order placement. US options trading now includes stop-loss and trailing stop-loss orders, helping investors better cope with changes in the options market. US and Hong Kong stock options now feature forward P/E ratio analysis, covering nearly a decade of data, to assist with options pricing. By continuously strengthening options trading features, the daily average number of options trades (DARTs) increased by 13% QoQ in Q2. To address investors’ focus on individual stocks, Tiger has introduced a customizable daily research digest, which delivers curated essential information in the morning and evening***, providing users with a more personalized and convenient experience. The trading feed feature continues to be favored by users, with a 150% QoQ increase in subscribers and a 170% QoQ increase in average daily guided trade orders. Previously, 24-hour trading for US stocks was fully launched, and currently supports up to 9,500 US stocks and ETFs, allowing trading at any time, 24/5, providing more convenience for investors trading US stocks across time zones.

Launched in Q2 of last year, TigerGPT, the first AI investment assistant in the brokerage industry to integrate ChatGPT technology and the latest financial data, has continued to accumulate users. With its powerful big data processing capabilities, TigerGPT can quickly analyze and summarize complex market dynamics and financial reports, helping investors gain a deeper understanding of market conditions and greatly improve their investment decision-making efficiency. Currently, TigerGPT has reached 80,000 users worldwide, with over 520,000 cumulative user conversations and an average of over 10,000 conversations per week.

On the wealth management side, the number of wealth management services users increased by 150% YoY, further increasing the platform penetration. The Company’s cash management service, “Tiger Vault”, further enhanced its redemption efficiency and continued its strong performance. One out of every three new funded accounts activated “Tiger Vault” in the second quarter. The average 7-day annualized yields of USD, HKD, and SGD money market funds exceeded 5.2%, 4.2% and 3.6% respectively in Q2, consistently outperforming the market average.

In Singapore, “Tiger Vault” launched T+0 same-day settlement, which helped accelerate market trading efficiency. The Tiger Fund Management (TFM) continued to gain trust from high-net-worth clients, with its Tiger-Yuanta USD Liquidity Fund achieving a 7-day annualized pre-fee yield of 5.4% in Q2, and its Discretionary Portfolio Management (DPM) business achieving 40% growth.

Since the Company launched the TradingFront Turnkey Asset Management Platform (TAMP) in September 2023, it has acquired a strong reputation among institutional clients for its advanced trading capabilities, efficient online processes, and diverse investment options. In Q2, the “Tiger Vault” business on TradingFront saw significant growth, with Assets Under Custody (AUC) surging by 26.5% QoQ. In Singapore, TradingFront partnered with Manulife to provide flexible Variable Universal Life (VUL) insurance custody services to accredited investors. TradingFront has also introduced Fixed Coupon Notes (FCNs) and now offers quotes from 11 issuers to enrich investment options.

Strong presence in the US IPO market: 13 successful projects as lead underwriter

Employee Stock Ownership Plan (ESOP) SaaS revenue doubled YoY

In Q2, UP Fintech’s other revenues, encompassing services such as investment banking and Employee Stock Ownership Plan (ESOP), reached US$6.3 million. The Company continues to solidify its position as a leading underwriter in the US IPO market. In Q2, the Company acted as the lead underwriter on two US IPOs and served as the Zeekr IPO’s distributor. As of end of Q2, the Company successfully completed 13 US IPO projects (including SPACs) as lead underwriter. Also, the Company ranked fourth among the underwriters for Hong Kong IPOs, underwriting IPOs for ten companies including Laopu Gold, Dida, Mobvoi and ChaPanda.

On the ESOP front, the Company’s UponeShare service added 22 new enterprise clients this quarter, bringing the total number of serviced enterprise clients to 579. Meanwhile, the company’s ESOP SaaS revenue surged by 149.5% YoY and 27.9% QoQ.

This quarter, Tiger Enterprise Account added 14 companies such as Sino Biopharmaceutical, Dida, and Fosun International, bringing the total number of clients to 442. Tiger Enterprise Account currently offers a full life-cycle of investor relations (IR) and public relations (PR) services tailored to the diverse communication needs of businesses across various industries. These services include live earnings calls, key rankings, offline research, earnings report communication and Investor Q&A, aiming to help companies reach investors and institutional audiences more effectively and precisely.

* Tiger Brokers (Singapore) Pte Ltd has partnered with a local licensed partner to provide card issuance and account issuing services.

**Certain virtual assets transactions are only available for professional investors.

***Available in Select Markets

View original content:https://www.prnewswire.com/news-releases/up-fintech-record-high-quarterly-revenue-with-total-client-assets-reaching-us38-2-billion-302234853.html

SOURCE UP Fintech Holding Limited

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AGFUND wins international award for excellence in inclusive banking and social impact

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October 17, 2026

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 Prince Abdulaziz bin Talal credits the founders of AGFUND’s microfinance banks for laying the foundations of its development impact

BANGKOK, Oct. 17, 2026 /CNW/ — The Arab Gulf Programme for Development (AGFUND) won the “Excellence in Inclusive Banking and Social Impact” award at the 2026 Sustainable Development Goals Awards, organized by the World Savings and Retail Banking Institute (WSBI) in cooperation with the European Savings and Retail Banking Group (ESBG).

AGFUND CEO Hammam bin Nasser bin Juraid accepted the award in Bangkok, Thailand, alongside the Annual Meetings of the International Monetary Fund and World Bank Group.

HRH Prince Abdulaziz bin Talal bin Abdulaziz, President of AGFUND, said the recognition acknowledges AGFUND’s experience using financial services to empower underserved communities, strengthen livelihoods and promote economic independence.

He credited the founders of AGFUND’s microfinance banks, particularly the late Prince Talal bin Abdulaziz, for establishing institutions centered on empowering people.

He added that the award reflects over two decades of commitment, the dedication of financial inclusion banks and partners, and clients who transformed financing into businesses and family income. He emphasized expanding opportunities and measuring success through lasting improvements in people’s lives.

Prince Abdulaziz stressed that the recognition reflects the value of institutions reaching excluded populations and encourages broader access and economic opportunities for families.

AGFUND’s financial inclusion banking network has served more than 1.3 million clients and disbursed over US$1.37 billion in financing since inception. Women represent 59 per cent of borrowers, demonstrating its contribution to economic empowerment.

Presented by WSBI, established in 1924, together with ESBG, the award recognizes an approach linking financial services, social impact and sustainable development.

Following its first bank in Jordan in 2004, AGFUND expanded across nine countries: Jordan, Yemen, Bahrain, Syria, Lebanon, Palestine, Sudan, Mauritania and Sierra Leone, focusing on communities underserved by conventional financial institutions.

The network has issued more than 1.5 million loans, opened over 927,000 savings accounts, established 112 branches and employed more than 1,500 people. Its services finance micro and small enterprises and income-generating activities, improving livelihoods and economic independence.

AGFUND plans to strengthen development partnerships, advance digital solutions and innovative financial products, and integrate financing with training, capacity development, market access and risk protection.

It is also exploring geographic expansion, particularly in Africa, through institutional partnerships that adapt successful approaches to local needs and extend sustainable financial inclusion to more communities.

Website – https://agfund.org/

View original content to download multimedia:https://www.prnewswire.com/news-releases/agfund-wins-international-award-for-excellence-in-inclusive-banking-and-social-impact-302911811.html

SOURCE The Arab Gulf Programme for Development (AGFUND)

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GAC Showcases Multiple Models at Canton Fair: Systemic Global Expansion as a Response to High‑Level Opening‑Up

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October 17, 2026

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GUANGZHOU, China, Oct. 17, 2026 /PRNewswire/ — On 15 October, the 140th China Import and Export Fair (Canton Fair) kicked off in Guangzhou. Dubbed “China’s No.1 Exhibition” with a 70‑year history, it serves as a vital window for global merchants to understand China, and one of GAC’s stages to connect with the world. For international buyers, GAC serves not only as a sourcing platform but as a trusted channel for experiencing Chinese automotive innovation and building long-term local partnerships. Having made its debut in 2012, GAC has participated in the fair 30 times to date. Together with the Canton Fair, it has witnessed the transformation of Made‑in‑China products into Chinese global brands.

This transformation is reflected in GAC’s global expansion journey through a string of continuously refreshed sales figures. Overseas sales stood at 90,000 units in 2024, hit 130,000 units in 2025, and exceeded 197,000 units in January‑September 2026, representing a year‑on‑year surge of 138.9%. GAC is sprinting full steam ahead toward its annual target of 300,000 overseas units. GAC has accomplished a shift from “product export” to “system‑level global expansion”.

At the GAC booth, XT80, AION i60 and AISTALAND GX7 showcased intelligent driving, three-electric systems and premium cabins. The energy-ecology zone featured DC ultra-fast charging piles, 7 kW smart home chargers, multi-in-one electric drive units and PV-Storage-Charging-Swapping Technology, addressing range anxiety. Opening day drew buyers from Southeast Asia, the Middle East, Europe, Latin America and Africa. At the Music & Cuisine Festival, GAC built three immersive spaces blending smart mobility, Cantonese cuisine, camping and sports. The XT80, AION N60, GAC S7 and AISTALAND GT7 served as lifestyle carriers, letting guests enjoy morning tea, global cuisines and intangible cultural heritage.

GAC will advance its ONE GAC 2.0 strategy, deepening localized operations and expanding its systematic global layout. As a tribute to the Canton Fair’s 70th anniversary and a new business card for China’s auto industry, GAC will help drive Chinese intelligent manufacturing onto the global stage.

For further information about GAC, please visit https://www.gacgroup.com/en or follow us on social media.

 

SOURCE GAC

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Highland and Bath Counties, Virginia Go Live on a Shared Caliber Hosted CAD Environment

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October 17, 2026

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Two neighboring rural counties, two dispatch centers, one common platform supporting more than 900 square miles of mountainous terrain

NORTH LITTLE ROCK, Ark., Oct. 17, 2026 /PRNewswire/ — Caliber Public Safety announced that Highland County and Bath County, Virginia went live on Caliber Hosted CAD on Tuesday, October 6, with both counties operating within a shared hosted environment. The arrangement gives each county its own dispatch operation while placing both on a common platform, creating a practical foundation for coordination between two neighboring jurisdictions.

For rural agencies, interoperability is usually a question of what happens when an incident crosses a county line. Mutual aid is routine in this part of western Virginia, where Highland County covers roughly 416 square miles with about 2,300 residents, and Bath County covers more than 500 square miles with about 4,100 residents. Together, the two counties serve a largely forested and mountainous service area with a small number of dispatchers and responders on any given shift.

The shared tenant approach addresses that directly. Each county retains the configuration, workflows, and local control it needs to run its own center. Both counties work from the same underlying platform, which removes the technical barriers that normally sit between separate CAD systems in adjacent jurisdictions.

“Two counties sharing one hosted CAD environment is not something you see often in rural public safety, and it took real coordination between both counties and our teams to get there,” said Michael Sturgeon, Senior Project Manager at Caliber Public Safety. “What matters is what the dispatchers and responders have now. Each county runs its own center the way it needs to, and neither one is working in isolation anymore.”

Capabilities Delivered

Highland County, which joined the Caliber CAD customer base with this project, is now operating Hosted CAD with integrated mapping and CJIS query, along with Google Places address validation and a LinX interface for regional information sharing. The county also uses Caliber’s Online RMS for sworn and non-sworn personnel. For dispatchers covering a county with one of the highest mean elevations east of the Mississippi River, verified addressing and immediate access to criminal justice data reduce the guesswork that slows down a call.

Bath County is operating Hosted CAD with mapping and CJIS query, plus interfaces to PulsePoint, RapidSOS with alerts. The RapidSOS connections put caller location and device data in front of the dispatcher at the start of the call, which matters in terrain where a caller may not be able to describe where they are. The PulsePoint interface extends cardiac arrest notifications to trained citizens and off-duty responders nearby, a meaningful addition in a county where response distances are long.

A Migration, Not Just an Implementation

Bath County has been a Caliber premise CAD and Online RMS customer for years. As part of this project, the county moved its premise-based system onto Hosted CAD, and Caliber completed a data conversion to bring the historical CAD databases forward into the new environment.

That piece is often the sticking point for agencies considering a move off a premise system. Years of call history, incident records, and master index data represent case continuity, state reporting obligations, and institutional knowledge. Data conversion is a formal, structured component of every Caliber implementation, with Caliber’s team managing the technical transformation, validation, and loading so that historically critical records carry over intact.

Caliber products are hosted at Nlets, the International Justice and Public Safety Network, and meet FBI CJIS policies, standards, and guidelines. The facilities include multi-site hot backup disaster recovery and redundant network paths to key state and federal entities.

Project Teams

The go-live required coordination among both counties and Caliber’s Professional Services, Deployment, Training, Engineering, and Support teams. Caliber congratulates the public safety professionals of Highland County and Bath County on a successful implementation and looks forward to a fruitful partnership.

About Caliber Public Safety

Caliber Public Safety provides integrated technology solutions for law enforcement, fire/EMS, corrections, and 911 communications agencies. The Caliber platform includes CAD, Mobile, Online RMS, and JailTracker, all built by and for public safety professionals. With a focus on reliability, interoperability, and ease of use, Caliber serves hundreds of agencies across the country, helping first responders spend less time on technology and more time serving their communities.

View original content to download multimedia:https://www.prnewswire.com/news-releases/highland-and-bath-counties-virginia-go-live-on-a-shared-caliber-hosted-cad-environment-302911615.html

SOURCE Caliber Public Safety

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