谦虚谨慎不骄不躁
06-12
标题能不能手工改一下？推动公司增长，不是经济增长。
China’s Tiger Brokers Eyes Singapore’s Rich to Drive Growth
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It’s the central pivot of our internationalization.”</p><p>About one in every three adults in Singapore is a registered user of Tiger Brokers, according to Wu. The city-state is now the firm’s global headquarter and its single largest market in terms of client assets and revenue contribution, he said, declining to disclose the detailed breakdown.</p><p>The firm’s total revenue jumped 21% to $272.5 million last year, and rose 19% over the first quarter this year to $78.9 million. The balance on its client accounts more than doubled to $32.9 billion as of end-March, the firm reported Wednesday, adding average net asset inflows of new funded clients in Singapore reached $14,000.</p><h2 id=\"id_4133976329\">Home Market</h2><p>Tiger Brokers, which started off facilitating overseas securities trading for mainland Chinese investors, has been shifting away from the home market over the past few years after a regulatory clampdown.</p><p>China bars its individuals from using the annual $50,000 foreign exchange quota for direct offshore investments including securities, though some brokerages have for years managed to help them circumvent the rule by opening accounts offshore.</p><p>Authorities have criticized Tiger and peer Futu Holdings Ltd. since 2021, labeling their cross-border brokerage business as illegal. The online brokers were ordered in late 2022 to stop taking on new mainland investors and had to pull their trading apps onshore last year.</p><p>China’s share in Tiger’s total client assets has now dropped to less than 25% from a “great majority” in 2020, according to Wu.</p><p>The firm has been maintaining close communications with Chinese regulators, and pledged to comply with any upcoming rules regarding cross-border trades, said Wu, adding for now the dust has settled.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/ea38e061b9784d353a82e9967a39dac2\" title=\"\" tg-width=\"1200\" tg-height=\"675\"/></p><p>The company’s shares had traded within a tight range over the past two years. They are down about 50% from October 2021 when China first took aim at cross border services, and almost 90% below its peak in February the same year.</p><h2 id=\"id_2674929435\">Global Ambitions</h2><p>Tiger Brokers, which already facilitates trades in assets ranging from equities, US Treasuries to derivatives, will strive to beef up innovation and its product portfolio to cater to both retail and institutional investors, said Wu.</p><p>Having just launched virtual asset trading services for professional investors in Hong Kong in May, Tiger is in the process of obtaining qualifications in the city and other jurisdictions including Singapore and the US to expand the offering, he said. Wu expects the firm to get a greenlight in Hong Kong likely within this year to service retail investors, and get clearance for handling crypto trades in Singapore after that.</p><p>Headcount might be added marginally to aid its business expansion, but Wu ruled out the possibility of a “big increase” to its global staff of 1,000 employees.</p><p>Founded in 2014 in Beijing, Tiger Brokers now holds brokerage licenses in jurisdictions including Hong Kong, Singapore, US, Australia and New Zealand and services 2.2 million clients globally. It also offers Employee Stock Ownership Program management, investment banking and wealth management among other services.</p><p>“We aspire to become a world-class brokerage empowered by technologies” like the firm’s investor Interactive Brokers, he said. “We’ve managed to develop from zero to one over the past decade, and we hope to notch it up from one to ten in the future.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China’s Tiger Brokers Eyes Singapore’s Rich to Drive Growth</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina’s Tiger Brokers Eyes Singapore’s Rich to Drive Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-07 13:46 GMT+8 <a href=https://www.bloomberg.com/news/articles/2024-06-05/china-s-tiger-brokers-eyes-singapore-s-riches-to-propel-growth><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China’s Tiger Brokers is setting its sights on Singapore’s riches for a revenue boost as it continues to shift away from its home market.The firm, formally known as Up Fintech Holding Ltd., is hoping ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-06-05/china-s-tiger-brokers-eyes-singapore-s-riches-to-propel-growth\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TIGR":"老虎证券"},"source_url":"https://www.bloomberg.com/news/articles/2024-06-05/china-s-tiger-brokers-eyes-singapore-s-riches-to-propel-growth","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163755129","content_text":"China’s Tiger Brokers is setting its sights on Singapore’s riches for a revenue boost as it continues to shift away from its home market.The firm, formally known as Up Fintech Holding Ltd., is hoping to double its revenue in Singapore over the next 1 to 2 years as it taps the “sophisticated and rich,” including high-net worth individuals, family offices and hedge funds, founder and Chief Executive Officer Wu Tianhua said in an interview this week.Tianhua Wu in New York in 2019.Source: Tiger BrokersSingapore is an international financial center that can connect wealth across the globe, Wu said in a video call from Beijing. “We see a lot of growth potential in the country. It’s the central pivot of our internationalization.”About one in every three adults in Singapore is a registered user of Tiger Brokers, according to Wu. The city-state is now the firm’s global headquarter and its single largest market in terms of client assets and revenue contribution, he said, declining to disclose the detailed breakdown.The firm’s total revenue jumped 21% to $272.5 million last year, and rose 19% over the first quarter this year to $78.9 million. The balance on its client accounts more than doubled to $32.9 billion as of end-March, the firm reported Wednesday, adding average net asset inflows of new funded clients in Singapore reached $14,000.Home MarketTiger Brokers, which started off facilitating overseas securities trading for mainland Chinese investors, has been shifting away from the home market over the past few years after a regulatory clampdown.China bars its individuals from using the annual $50,000 foreign exchange quota for direct offshore investments including securities, though some brokerages have for years managed to help them circumvent the rule by opening accounts offshore.Authorities have criticized Tiger and peer Futu Holdings Ltd. since 2021, labeling their cross-border brokerage business as illegal. The online brokers were ordered in late 2022 to stop taking on new mainland investors and had to pull their trading apps onshore last year.China’s share in Tiger’s total client assets has now dropped to less than 25% from a “great majority” in 2020, according to Wu.The firm has been maintaining close communications with Chinese regulators, and pledged to comply with any upcoming rules regarding cross-border trades, said Wu, adding for now the dust has settled.The company’s shares had traded within a tight range over the past two years. They are down about 50% from October 2021 when China first took aim at cross border services, and almost 90% below its peak in February the same year.Global AmbitionsTiger Brokers, which already facilitates trades in assets ranging from equities, US Treasuries to derivatives, will strive to beef up innovation and its product portfolio to cater to both retail and institutional investors, said Wu.Having just launched virtual asset trading services for professional investors in Hong Kong in May, Tiger is in the process of obtaining qualifications in the city and other jurisdictions including Singapore and the US to expand the offering, he said. Wu expects the firm to get a greenlight in Hong Kong likely within this year to service retail investors, and get clearance for handling crypto trades in Singapore after that.Headcount might be added marginally to aid its business expansion, but Wu ruled out the possibility of a “big increase” to its global staff of 1,000 employees.Founded in 2014 in Beijing, Tiger Brokers now holds brokerage licenses in jurisdictions including Hong Kong, Singapore, US, Australia and New Zealand and services 2.2 million clients globally. It also offers Employee Stock Ownership Program management, investment banking and wealth management among other services.“We aspire to become a world-class brokerage empowered by technologies” like the firm’s investor Interactive Brokers, he said. “We’ve managed to develop from zero to one over the past decade, and we hope to notch it up from one to ten in the future.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":633,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":47,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/316063678894152"}
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