Han Pu's questions to UP Fintech Holding Ltd (TIGR) leadership • Q2 2024
Question
Han Pu from CICC inquired about UP Fintech's Q3 2024 performance run-rate, including new users and client assets, given recent market volatility. He also asked how the company might adjust its business strategy in a rate-cutting cycle and the potential financial impact of a 25 basis point rate cut.
Answer
CEO Tianhua Wu stated that client asset inflow and new funded user growth remained strong in July and August, with July marking the highest single-month revenue in the company's history. CFO John Zeng added that while a rate cut could negatively impact interest income, it would likely boost trading volume and commission income. He estimated a 25 bps rate cut would reduce total Q4 revenue by approximately 1%.