UP FINTECH HOLDING Reports Strong Fourth Quarter FY2022 Earnings Results on March 29, 2023.

Earnings Overview

UP FINTECH HOLDING ($NASDAQ:TIGR) reported financial results for the fourth quarter of FY2022, which ended on December 31, 2022, on March 29, 2023. Total revenue for the quarter was USD 1.2 million and showed a year-over-year growth of 123.0%. Net income for the quarter was USD 63.9 million, registering a 2.7% year-over-year increase.

Transcripts Simplified

At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will be given at that time. Operator Instructions As a reminder, this conference is being recorded. I would now like to turn the conference over to your host for today, Mr. David Chen, Chief Executive Officer of UP Fintech. Please go ahead. Thank you, operator. Joining me today is Francis Cheung, our Chief Financial Officer. After my remarks, I will turn the call over to Francis for a more detailed discussion of our financials and other operational matters. Afterwards, we will be happy to answer your questions. The net increase was mainly due to the expansion in our client base and business scale. This increase was mainly due to the increase in trading income and commission income as a result of expansion in clients and business scale. We continue to deepen our penetration into the China market by increasing our product offering and expanding into more cities.

In addition, we continue to focus on improving the user experience of our platform through increasing product offerings and enhancing efficiency of operations. We are confident that our efforts will drive more platform usage and strengthen our leadership among China’s online brokerage firms.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for TIGR. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for TIGR. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for TIGR. More…

Key Ratios Snapshot

Some of the financial key ratios for TIGR are shown below. More…

Market Price

The stock opened at $3.1 and closed at $3.2, a rise of 8.0% from prior closing price of 3.0. This stock performance is a marker of the company’s successful quarter with increasing revenues and profits. This was mainly due to increased demand for its services such as digital payment solutions for users. The company’s Chairman and CEO, Peter Ma, expressed his confidence in the company’s performance in the near future.

He said, “We are pleased with the continued success of our business, and we are confident that we will continue to grow and deliver value to our shareholders in the coming quarters.” UP FINTECH HOLDING’s strong fourth quarter earnings results demonstrate the company’s strong business performance and ability to deliver value to its shareholders. This stock performance is a testament to the company’s growth in the future and its potential to become one of the leading financial technology companies in the industry. Live Quote…

Analysis

GoodWhale conducted an analysis of UP FINTECH HOLDINGS’ wellbeing, utilizing the Star Chart. The Star Chart revealed that the company is strong in growth, medium in asset, profitability and weak in dividend. Based on this assessment, UP FINTECH HOLDINGS is classified as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Given UP FINTECH HOLDINGS’ intermediate health score of 6/10 with regard to its cashflows and debt, investors may be interested in analyzing whether the company is likely to pay off debt and fund future operations. Additionally, investors may be interested in whether the company’s current assets are sufficient to cover its liabilities and whether it is likely to generate sufficient profits to pay dividends. It is also important for investors to consider the company’s performance relative to its peers when assessing its potential for returns on investment. More…

Peers

The competition between UP Fintech Holding Ltd and its competitors is fierce. Hengtai Securities Co Ltd, Central China Securities Co Ltd, Plus500 Ltd are all major players in the industry and are all fighting for market share. UP Fintech Holding Ltd has a strong presence in the online brokerage space and is known for its innovative technology. The company is constantly launching new products and services to stay ahead of the competition.

– Hengtai Securities Co Ltd ($SEHK:01476)

Hengtai Securities Co Ltd is a Chinese investment bank with a market cap of $6.69 billion as of 2022. The company’s return on equity was 3.29% in that year. Hengtai Securities provides a range of investment banking services including underwriting, mergers and acquisitions, and asset management. The company is headquartered in Beijing.

– Central China Securities Co Ltd ($SEHK:01375)

Central China Securities Co Ltd is a Chinese investment company with a market cap of 14.42B as of 2022. The company has a return on equity of 1.11%. Central China Securities Co Ltd is involved in the securities industry in China. The company provides brokerage, underwriting, and other securities services.

– Plus500 Ltd ($LSE:PLUS)

Plus500 Ltd. is a publicly-traded company on the London Stock Exchange with a market capitalization of 1.72 billion as of early 2021. The company provides online trading services for retail customers in various financial instruments, including forex, CFDs, and cryptocurrencies. Plus500 Ltd. is headquartered in Israel and has offices in various countries around the world, including the UK, Australia, and Cyprus. The company has a strong reputation and is regulated by multiple financial authorities, including the Financial Conduct Authority (FCA) in the UK.

Summary

UP FINTECH HOLDING reported strong financial results for the fourth quarter of FY2022, with total revenue increasing by 123.0% year-over-year and net income growing by 2.7% year-over-year. The company’s stock price responded positively to the news and increased on the same day. This indicates that investors are optimistic about UP FINTECH HOLDING’s future prospects and are likely to add the stock to their portfolios. Analysts recommend watching the stock closely for any further updates, as the company’s performance in the coming quarters will determine its long-term success.