UP Fintech Holding Limited

Tech Holding Limited Fourth Quarter and Full Year 2024 Earnings Conference Call. All participants are in the 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, March 18, 2025. I'd now like to hand the conference over to your first speaker today, Mr. Aaron Lee, the Head of Investor Relations. Thank you. Please go ahead.

Thank you, Operator. Hello, everyone, and thank you for joining us for the call today. AppFintech Coding Limited's fourth quarter and full year 2024 earnings release was distributed earlier today and is available on our IR website at ir.itigerapp.com, as well as Globe Newsletter Services. On the call today from AppFintech are Mr. Wu Tianhua, Chairman and CEO, Mr. Zheng Zeng, our CFO, 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. They will both be available to answer your questions during the Q&A sessions that follow 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 Security Practication 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 differ materially from those in the forward-looking statements, please refer to our Form 6-K furnished today, March 18, 2025, and our annual report, on 20F, filed on April 22, 2024. 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 CEO, Mr. Wu. Mr. Wu will make remarks in Chinese, which will be followed by English translation. Mr. Wu, please go ahead with your remarks.

Hello, everyone. Thank you for joining the Tiger Brokers' fourth quarter and full year 2024 earnings conference call. so that the company achieved good performance again. In the fourth quarter, the total revenue reached 12.4 billion dollars, and the net profit rose by 22.8 percent, and the net profit rose by 77.3 percent. Among them, the commission income and interest income are historically high, respectively, the net profit rose by 35.8 percent and 19.3 percent. The total annual income reached 39.2 billion dollars, which increased by 43.7 percent in 2023, We are also happy to see that the company's profit has significantly improved in 2024. The net profit and non-GAAP net profit of the parent company in the whole year are 60.7 million US dollars and 70.5 million US dollars, plus 86.5% and 65% in 2023 respectively. The net profit and non-GAAP net profit of the parent company in the fourth quarter are US$28.1 million and US$30.5 million, respectively rising 58% and 51.7%. We are very happy to see that the company has a record high in terms of revenue and profit in the fourth quarter or the entire year of 2020. At the same time, the non-gam economy rate in the fourth quarter has also risen from 20% in the third quarter to 25%.