UP Fintech Holding Limited

ladies and gentlemen thank you for standing by and welcome to the up fintech holding limited third quarter 2022 earnings conference call at this time all participants are in a listen only mode there will be a presentation followed by a question and answer session i must advise you that this conference is being recorded today november the 23rd 2022. I would now like to hand the conference over to your first speaker today, Mr. Aaron Lee, the head of IR. Thank you. Please go ahead.

Thank you, operator. Hello, everyone, and thank you for joining us for the call today. App Fintech Holding Limited's third quarter 2022 earnings release was distributed earlier today, and it's available on our IR website at ir.itiger.com, as well as global newsware services. On the call today from UpFintech are Mr. Wu Tianhua, Chairman and Chief Executive Officer, Mr. Zhang Zeng, Chief Financial Officer, and Mr. Huang Lei, CEO of US Tiger Securities, and Mr. Kenny Zhao, our Financial Controller. Mr. Wu will give an overview of our business operations and discuss corporate highlights. Mr. Zeng will then discuss our financial results. Both will be available to answer questions during the Q&A session that follows their 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 Security Execution 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 about factors that could cause actual results to materially differ from those in the forward-looking statements, please refer to our Form 6-K, furnished today, November 23, 2022. and our annual report on Form 21, filed on April 28, 2022. We undertake no obligation to update any forward-looking statement, except as required under applicable law. It is my pleasure to now introduce our Chairman and Chief Executive Officer, 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. Hello, everyone.

Hello, everyone. Thank you for joining us for Tiger Brokers' 3rd Quarter 2022 Earnings Conference Call. The overall revenue of the third quarter is 3.6% higher than that of the second quarter, reaching $5541 million. In terms of profit, the optimization of the company's revenue structure and the detailed operation in terms of cost-benefit expenses, the non-Gam profit of the third quarter belongs to the mother company, which is 26.2% higher than that of the second quarter, and 91.3% higher than that of the third quarter, reaching $663 million. At the same time, the non-Gam profit of the third quarter, which belongs to the mother company, has also achieved a loss-to-profit profit in the first half of this year.