UP Fintech: Profit Surges Nearly 8x YoY, Client Assets Reach Record High of US$52.1 Billion

NEW YORK, Aug. 27, 2025 /PRNewswire/ -- UP Fintech Holding Limited (NASDAQ: TIGR) ("UP Fintech" or the "Company"), announced its unaudited financial results for the second quarter ended June 30, 2025. UP Fintech achieved a total revenue of US$138.7 million in the second quarter, up 58.7% increase year-over-year (YoY), marking a record high. Non-GAAP net income attributable to UP Fintech shareholders surged to US$44.5 million, up 23.5% quarter-over-quarter (QoQ) and nearly 8 times growth YoY, also reaching a record level. The Company added 52,700 new accounts during the quarter, bringing the total number of global accounts to 2.58 million. Funded accounts increased by 39,800, pushing total funded clients up 21.4% YoY to 1.19 million. Business activity remained strong, with Q2 trading volume soaring 168.3% YoY to US$284 billion. Net asset inflows were US$3 billion, propelling total client assets to a record US$52.1 billion, up 13.5% QoQ and 36.3% YoY. 

UP Fintech's founder and CEO, Wu Tianhua, stated: "In Q2, we delivered strong growth in both revenue and profit. Non-GAAP net profit surged eightfold YoY, hitting a record high. Remarkably, in just the first half of 2025, our operating profit, net income, and non-GAAP net income have already surpassed full-year 2024 levels, underscoring our solid profitability and operating leverage. At the same time, Tiger continues to gain trust from quality clients—average net asset inflows from new clients in Q2 exceeded US$20,000, a record high. In Hong Kong and Singapore, the figure reached about US$30,000, driving client assets in the two markets up approximately 50% and 20% QoQ, respectively. This lays a solid foundation for sustainable growth throughout the year."

He added, "We continue to enhance Tiger Trade's all-in-one investment experience. In Q2, TigerAI introduced major upgrades including portfolio analysis, watchlist insights, and stock-specific assessments, as well as features like news tracing and preference memory for more efficient and reliable research support. We also launched new fundamental tools such as revenue & expenditure breakdown and valuation track, to help investors better interpret company financials and valuations. On the options front, we introduced HK equity options quote requests and conditional market orders for single-leg options, further improving the trading experience and making investing more seamless."

SG: Strengthening local leadership with enhanced product experience

HK: Maintaining high-growth momentum with Q2 trading up nearly 8x YoY

In Singapore, the Company continues to lead the local tech brokerage market, with core business metrics climbing steadily. In Q2, total trading volume rose 113% YoY and 80% QoQ. Trading orders and commissions both reached record highs, up 62.2% and 69.4% YoY, respectively. Trading activity remained robust, with US stock and IPO trading volume jumping 117.8% and 130.8% YoY. On the product side, the Tiger BOSS Debit Card - Singapore's first debit card that rewards everyday spending with fractional shares, continued to enhance user experience. The card now supports spending at over 50 dining, transport, and retail merchants. Its fractional share rewards portfolio has expanded to include the US "Magnificent Seven" and popular ETFs such as VOO and QQQ, while the annual transaction limit was raised to S$100,000. In April, Tiger Brokers Singapore also entered a strategic talent partnership with Singapore Exchange (SGX) to co-develop specialized training programs aimed at nurturing the next generation of wealth management professionals, further strengthening ties with the local financial ecosystem.

In Hong Kong, momentum remained strong. Total trading volume in Q2 surged nearly 8x YoY and 122% QoQ, while total trading orders rose 218% YoY and 20% QoQ, underscoring continued trading vitality. By asset class, Hong Kong futures trading volume jumped 1.7x QoQ, US futures orders climbed 1.6x QoQ, and crypto trading volume grew nearly 65% QoQ, highlighting the benefits of a diversified trading mix. Cash management solution Tiger Vault continued to gain traction, with Hong Kong AUC soaring nearly 6x YoY and user numbers up 1.6x YoY. HKD money market fund trading volume and order counts surged 1.7x and 63% QoQ, respectively, reflecting both product stickiness and growth potential. Beyond trading, Tiger Brokers Hong Kong also actively engaged in local offline events and exhibitions during the quarter, providing investors with opportunities to learn, exchange ideas, and sharpen their financial literacy to better navigate market shifts and capture wealth opportunities.

In the US, TradeUP delivered solid growth in the second quarter. Average client assets (AUC) rose 33.2% QoQ, reflecting stronger user engagement and asset retention. Options trading surged 163.4% QoQ, underscoring the platform's growing appeal in derivatives. Overall, combined stock and options trading volume increased 15% QoQ, signaling steady momentum and laying a solid foundation for future revenue growth. On the primary market front, TradeUP participated in underwriting four US IPOs, including the high-profile deal CHAGEE, further highlighting its underwriting strength and brand influence in the US capital market.

In Australia, Tiger continued to gain traction among local investors. Q2 new account openings grew 62.6% QoQ, net deposit amount rose 28.8% QoQ, total client assets climbed 34% QoQ, and gross income increased 30.6% QoQ, extending robust momentum. Reflecting its platform value and user experience, Tiger Brokers Australia was awarded the 2025 Canstar "Outstanding Value Award – Share Trading Platform in Active Investor" during the quarter. In New Zealand, Tiger attracted more quality clients, with net deposit amount jumping 149.2% YoY and client assets up 42% QoQ. Trading accounts rose 59.6% YoY, while trading volume surged 56.3% QoQ and 119.7% YoY. US stock trading remained highly active, with stock orders up 112.6% YoY and options orders soaring 126.2% YoY, underscoring a strong local appetite for US securities.

TigerAI usage surges 3x, Fundamental analysis tools upgraded

HK IPOs join Top Tier, Subscriptions hit 3-year high

In Q2, UP Fintech recorded commission income of US$64.8 million, rising 90.1% YoY, while interest-related income climbed 30.4% YoY to US$61.4 million. The Company continues to enhance its all-in-one global investment experience on the Tiger Trade app. TigerAI, the industry's first AI-powered research assistant, saw its user base more than triple YoY in Q2, with total conversations rising over fourfold. Its capabilities were further upgraded with new functions* including AI portfolio analysis and AI watchlist analysis, offering personalized insights based on users' holdings. TigerAI also introduced single-stock insights, consolidating key market-moving factors and trading summaries for timely decision-making. Meanwhile, Tiger Trade's fundamental analysis tools received major updates. Newly added features include Valuation Track to help investors quickly assess company valuation levels; revenue & expenditure breakdown to visualize income and expense flows; and an Earnings Move section on stock pages to quantify expected market impact from earnings events. On the options trading front, enhancements included HK stock option quote requests*, stop-loss market orders, and conditional market orders for options. In addition, tiered commission pricing* was introduced for both the HK and US stock markets. With these product enrichments, average daily trading volume (DARTs) across asset classes surged 86.6% YoY in Q2. Night trading capabilities were also upgraded with new order types and amendments supported, driving Tiger's US stock night-trading DARTs to nearly 8x YoY growth.

Following the strong momentum in the first quarter, Tiger's IPO subscription business continued its explosive growth in Q2. The Hong Kong IPO business rose to the first-tier league, with cumulative subscription numbers reaching the highest level since 2022. During the quarter, the number of subscribers surged nearly fourfold QoQ, while subscription amounts rose 11% QoQ. In the US, Tiger underwrote high-profile IPO projects such as CHAGEE, which set new subscription records and achieved full client allocation on the platform.

The Company's wealth management business also recorded significant expansion in both assets and client base, driving sustained high-quality growth. Wealth management AUC grew 31.7% QoQ and 225% YoY, while the number of wealth clients increased 70.8% YoY, underscoring continuous breakthroughs in client coverage and asset accumulation. Cash management solution Tiger Vault maintained rapid growth, with total AUC across all markets more than doubling YoY (+223%) and up 31.8% QoQ; the number of clients rose 75.7% YoY and 11.3% QoQ. Hong Kong stood out in particular, with Tiger Vault AUC in the market up 42.2% QoQ and 576.6% YoY, while client numbers grew 25.5% QoQ and 157.6% YoY—reflecting robust demand for local cash management amid a Hong Kong market rebound. Structured note trading also showed strong momentum, with transaction volume up 66.5% QoQ and trading accounts up 76.9% QoQ, supported by the introduction of several new product types to meet diverse investment needs. The high-net-worth client base further expanded, with active clients holding over US$1 million in assets, increasing 34.9% QoQ, and their fund holdings rising 38.3% QoQ.

The Turnkey Asset Management Platform (TAMP) business continued to strengthen its leading position among financial advisors (FAs) and external asset managers (EAMs). By deepening institutional partnerships, the platform kept attracting new advisors and significantly expanded AUC, which rose 33.9% QoQ in Q2. The number of EAM-managed accounts increased 36% QoQ, while multi-asset classes—including securities and derivatives—maintained double-digit QoQ growth. In addition, the platform further broadened its structured note product offerings to meet diversified investment needs. Supported by the recently launched innovative "Investment Co-Pilot" collaborative sales model, advisor and research teams enhanced their coordination in structured product distribution. Meanwhile, the innovative client referral program also gained traction, with referred client accounts up 15% QoQ.

Investment Banking: Expanded presence in Hong Kong and US IPOs

Ranked third among US-listed Chinese IPO underwriters, CHAGEE IPO sets 3-year subscription record

UP Fintech's other revenues, encompassing services such as investment banking and Employee Stock Ownership Plan (ESOP), reached US$12.5 million. In Q2, the Company's investment banking division participated in the underwriting of 7 Hong Kong IPOs and 4 US IPOs, continuing to broaden its presence across markets. Notably, UP Fintech underwrote two of the top three US-listed Chinese IPOs by fundraising size during the quarter—CHAGEE and Yuanbao—ranking third among all underwriters of US-listed Chinese issuers. CHAGEE stood out as a blockbuster, attracting over 30,000 subscriptions on the Company's platform, the highest number for a US IPO in nearly three years. All platform users who subscribed received allocations, with allotment rates exceeding industry averages.

On the ESOP front, the Company's UponeShare service added 30 new clients in Q2, bringing its total to 663 enterprises served. SaaS revenue from the employee option management platform grew 37.6% YoY, with H1 profit reaching 2.8x the full-year 2024 profit. Since its spin-off, the brand has leveraged refined operations to effectively control costs and scale profitability.

Tiger Enterprise Account onboarded 9 corporate clients in Q2—including CaoCao Mobility and Geekplus—bringing the total of corporate accounts to 487. The platform partnered with Leapmotor to livestream its "Better and More Advanced" event themed around "A Better Home for Global Youth", showcasing a series of product upgrades, and broadcast the launch of the Leapmotor C16. Enterprise Accounts also livestreamed Xiaomi's 15th Anniversary Strategic Launch, helping users gain first-hand access to new products across Xiaomi's four core sectors: smartphones, chips, smart hardware, and electric vehicles.

*Available in certain markets 

SOURCE UP Fintech Holding Limited