UP Fintech reports Q4 revenue $70M, added 47,797 new global account holders

Reports Q4 revenue $70M, one estimate $207M… UP Fintech Holding Limited announced its unaudited financial results for the fourth quarter and full year ended December 31… In the fourth quarter, the Company achieved a revenue of $70M….During the fourth quarter, UP Fintech added 47,797 new global account holders, marking a 65.9% increase quarter-over-quarter and bringing the global total to 2.2M up 9.3% year-over-year. Funded accounts increased by 39,034, showing a growth of 58.6% quarter-over-quarter and 42.8% year-over-year, reaching a total of 904,600 accounts. In 2023, the company added 123,110 funded accounts, mainly from markets outside the Chinese mainland, surpassing annual guidance of 100,000. The Company’s total trading volume reached $81.8B during the period….In the Hong Kong market, UP Fintech saw a quarter-on-quarter increase of 20.9% in funded clients and a 150.7% increase in client assets. Net asset inflows for the quarter surpassed the total for the first three quarters of 2023. During this period, the Company introduced the A-share Connect feature in Hong Kong, facilitating trading of over 2,500 eligible stocks and ETFs listed on the Shanghai and Shenzhen stock exchanges.