UP Fintech Holding Ltd
TIGR · Security Brokers, Dealers & Flotation Companies · EDGAR filings ↗
Grade
B78Fast-growing online broker with strong top-line momentum and cash generation, a notch below sector leader Futu.
Strengths
- Revenue growth 56% (88th pct) and very strong OCF margin (88th pct)
- Solid liquidity with $801M cash & investments
Risks
- Sparse profitability disclosure (no ROE/net margin given); thin current ratio (1.12, 17th pct)
- China VIE structure, HFCAA exposure and KYC/AML compliance risk across multiple jurisdictions
Notable findings
- RestatementPursuant to the Spouse Consent Letters dated December 17, 2018, the spouse of each married shareholder of Beijing Rongke which restated and amended the version dated June 7, 2018, unconditionally and 8-K ↗
- Strong balance sheetStrong balance sheet — $801M cash & investments
- China exposureIn addition, although we and our vendors have strict internal policies for continuing KYC procedures after the activation of accounts and for issues such as anti-corruption, economic sanctions, anti-m
Key metrics
Net margin
28.0%
Return on equity
19.8%
Return on assets
2.1%
Revenue growth (QoQ)
56.3%
Net-income growth
179.5%
Current ratio
1.1×
Tangible book value
$863M
Cash & investments
$801M
Stock comp / revenue
2.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-03-19 | LIU JIAN | Grant | 400K | — |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-24 | 2025-12-31 | 0001193125-26-174855 ↗ |
| 20-F | 2025-04-23 | 2024-12-31 | 0000950170-25-056953 ↗ |
| 20-F | 2024-04-22 | 2023-12-31 | 0000950170-24-046209 ↗ |
| 20-F | 2023-04-26 | 2022-12-31 | 0000950170-23-014775 ↗ |
| 20-F | 2022-04-28 | 2021-12-31 | 0001564590-22-016241 ↗ |
| 20-F | 2021-04-28 | 2020-12-31 | 0001104659-21-055895 ↗ |
| 20-F | 2020-04-29 | 2019-12-31 | 0001104659-20-053356 ↗ |