UP Fintech Holding Ltd American Depositary Share representing fifteen Class A Ordinary Shares 2026 Q2 Earnings Call

Thank you operator. Hello everyone, and thank you for joining us for the call today. UP Fintech Holding Limited second quarter 2026 earnings release was distributed earlier today and is available on our website at ir.itiger.com, as well as GlobeNewswire services. On the call today from UP Fintech are Mr. Wu Tianhua, Chairman and CEO, Mr. Zheng Zeng, our CFO, and Mr. Huang Lei, CEO of U.S. Tiger Securities. Mr. Wu will give an overview of our business operations and discuss corporate highlights. Mr. Zeng will then discuss our financial results. They will both be available to answer your questions during the Q&A session that follows the remarks. Now let me cover the safe harbor. The statements we are about to make contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.

A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. For more information, please refer to our Form 6-K furnished today and our annual report on Form 20-F filed on April 24, 2026. We undertake no obligation to update any forward-looking statement, except as required under applicable law. It is my pleasure to now introduce our CEO and Chairman, Mr. Wu. Mr. Wu will make remarks in Chinese, which will be followed by an English translation. Mr. Wu, please go ahead with your remarks.

大家好，非常感谢各位参加老虎国际2026年第二季度财报发布会。 Hello, everyone. Thank you for joining the Tiger Brokers second quarter 2026 earnings conference call.

2026年第二季度，公司佣金收入与逆相关收入较上季度及去年同期均实现显著提升。本季度公司总收入达到1.82亿美金，创下新高，环比增长17.7%，同比增长31.4%，实现经营利润5,680万美金，环比增长19.5%，同比增长12.6%。归属于老虎国际的GAAP和Non-GAAP净利润分别达到3,940万美金和4,080万美金，环比扭亏为盈。剔除第一季度的约5,970万美金的一次性罚款影响之后，第二季度归属于母公司的GAAP和Non-GAAP净利润均环比增长20%左右。 In the second quarter, we saw meaningful improvement in both commission income and interest-related income compared with the previous quarter and the same period last year.

Our total revenue for the quarter reached $182 million, an all-time high, representing a sequential increase of 17.7% and a year-over-year growth of 31.4%. Operating profit reached $56.8 million, up 19.5% quarter over quarter and 12.6% year over year. GAAP and Non-GAAP net income attributable to UP Fintech reached $39.4 million and $42.8 million respectively, returning to profitability from net loss in the previous quarter. Excluding the impact of approximately $59.7 million one-off penalty incurred in the first quarter, second quarter GAAP and Non-GAAP net income attributable to UP Fintech both increased about 20% quarter over quarter.

用户增长方面，本季度公司新增入金用户35,600人，环比上升12.7%。新增用户绝大多数来源于新加坡和香港市场。截至2026年第二季度末，公司累计总入金用户数达到131.5万人，较去年同期增长10.3%。客户资产方面，第二季度新加坡、香港等市场的零售用户持续贡献稳健的净入金，规模超过15亿美元。同时，受益于客户资产市值的上涨，截至第二季度末，公司客户总资产达607亿美元，环比增长3.1%，同比增长16.7%。我们很高兴地看到，第二季度在公司进入的所有市场，客户资产均实现了环比的增长，展现出了强劲的增长韧性与广阔的市场空间。在香港市场，我们推出了更多线下推广活动，并扩大品牌的曝光，带动本地客户资产环比增长近30%，延续了公司进入香港零售市场以来，客户资产持续高速增长的良好势头。澳金市场及美国市场客户资产也分别实现了超过30%和近50%的环比增长。这充分表明，作为一家国际化为核心战略的全球券商，凭借核心业务的多元化发展以及国际化战略的深耕，我们在全球各海外市场持续赢得新老用户的信任和认可，也让我们对未来的增长前景充满信心。 We added 32,600 new funded accounts this quarter, up 12.7% quarter over quarter, with the great majority coming from the Singapore and Hong Kong markets.

As of the end of the second quarter, our total funded accounts reached 1.32 million, a year-over-year increase of 10.3%. In terms of client assets, retail users in markets such as Singapore and Hong Kong continue to contribute solid net asset inflows, exceeding $1.5 billion this quarter. At the same time, fueled by mark-to-market gains, total client assets stood at $60.7 billion at the end of the second quarter, up 3.1% quarter over quarter and 16.7% year over year. We are glad to see that client assets grew quarter over quarter across all the markets we operate in this quarter, indicating strong growth, resilience and tremendous market potential.

In the Hong Kong market, we rolled out more offline promotion activities and expanded our brand exposure, driving local client assets up by nearly 30% quarter over quarter and extending the rapid sustained growth in client assets we have delivered since entering the Hong Kong retail market. Client assets in the Australia and New Zealand market and the U.S. market grew by more than 30% and nearly 50% quarter over quarter, respectively. This clearly demonstrates that as a global brokerage with internationalization at the core of our strategy and powered by the diversified development of our core business, we continue to earn the trust and recognition of both new and existing users across all the markets, giving us strong confidence in our growth prospects ahead.

第二季度，我们持续迭代本地化的功能，提升用户体验，并不断加大品牌曝光，深化用户认知。针对新加坡市场，我们进一步强化本地化的交易功能，上线了新加坡股票及REITs的碎股交易功能，有效降低了交易的准入门槛，让本地投资更加触手可及，对新锐投资者也更加友好。此外，为了简化用户的合规成本，降低报税的复杂度，我们在香港、新加坡及新西兰推出了专属的报税工具，升级后的工具优化了端到端的报税体验。用户可以通过我们的app及官网的个人中心直接查看并下载年度的报税参考文件，全面覆盖了交易盈亏、股息收入以及利息与票据收益等关键的税务数据。在香港市场，我们在第二季度加大了品牌投入与本地化的运营力度。本季度我们重点打造了一场以SpaceX为主题的品牌营销活动，通过户外广告、社交媒体传播、新用户专属礼遇以及香港机场的广告投放等多渠道的联动，全面提升了品牌的声量。与此同时，我们在香港也上线了Cboe指数期权交易，并且围绕TigerX Cboe指数期权的推出，举办了发布活动以及一系列的投资教育活动，进一步丰富了本地投资者的交易产品的丰富度。 In the second quarter, we continued to focus on localized functions and enhance the user experience while stepping up our brand exposure to deepen user awareness.

In the Singapore market, we further strengthened our localized trading capability by launching fractional share trading for Singapore-listed stocks and REITs, which effectively lowered the trading entry barriers, making local investment more accessible and friendly to beginners. In addition, to simplify users' compliance costs and reduce the complexity of tax declaration, we rolled out a dedicated tax reporting tool in Hong Kong, Singapore and New Zealand. The upgrade is to optimize the end-to-end tax filing experience, enabling users to directly view and download annual tax reference documents through our app and official website, comprehensively covering key tax data including trading profits and losses, dividend income, as well as interest and coupon earnings.

In the Hong Kong market, we scaled up our brand investment and localized operations during the second quarter. Our flagship marketing campaign of the quarter was built around SpaceX, amplifying our brand voice through an integrated mix of out-of-home advertising, social media, exclusive new user rewards and advertising placement at Hong Kong Airport. At the same time, we launched Cboe index option trading in Hong Kong and hosted a dedicated launch event for TigerX Cboe index option, alongside a series of investor education initiatives, further enriching the range of trading products available to local investors.

老虎国际的To B业务在2026年第二季度继续保持良好的发展势头。投行业务侧，港股方面，今年我们承销了10宗港股IPO项目，持续覆盖人工智能、硬科技等重点的赛道，包括了群核科技、深眼智能、中科文科等AI领域的重点IPO，并参与了小米科技、亿飞科技、星空智能、晶杰电子等智能制造与汽车半导体企业的发行，进一步巩固了公司在科技创新企业上市服务领域的市场影响力。同时，公司持续拓展A股的上市业务，参与了华群技术、鑫源材料以及礼仪制造等行业龙头企业的赴港上市。项目覆盖了智能硬件、新能源材料及消费电子等重点的产业。美股方面，参与了4宗IPO的项目分销，包括了中国汽车产业数字化平台的大搜车和日本汽车软件公司VQL。ESOP业务方面，本季度实现了稳健的增长，新增客户10家。截止2026年6月30号，公司累计服务ESOP客户数量已经达到840家。 Our To B business continued to strong momentum in the second quarter of 2026.

On the investment banking side, in Hong Kong, we underwrote 14 Hong Kong IPOs during the quarter, continue to cover key sectors such as AI and hard tech, including major AI IPOs like Moonshot AI, 01.AI, and Z.ai, and participating in the offering of intelligent manufacturing and automotive semiconductor companies such as Finemems, Robotphoenix, and SEER. Further consolidating our market influence in listing services for technology and innovation companies. Meanwhile, we continue to expand our A+H listing business, participating in Hong Kong list of leading companies such as Huaxin Technology and Shenzhen Senior Technology Material Co. Ltd. Spanning key industries including smart hardware, new energy materials, and consumer electronics.