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    Yang Fan

    Research Analyst at China International Capital Corporation (CICC)

    Yang Fan is an analyst at China International Capital Corporation (CICC), specializing in equity research within major Chinese industries. He provides coverage on leading companies in sectors such as technology, financial services, and manufacturing, contributing actionable investment insights and recommendations. Since joining CICC, Yang Fan has established a solid track record, with performance metrics often cited on financial platforms for accuracy and returns, and has earned recognition on both institutional and client rankings. Yang Fan holds relevant professional securities credentials and licenses required to deliver regulated investment analysis in the Chinese market.

    Yang Fan's questions to UP Fintech Holding (TIGR) leadership

    Yang Fan's questions to UP Fintech Holding (TIGR) leadership • Q1 2025

    Question

    Yang Fan from CICC requested a regional breakdown of newly funded accounts for Q1. He also asked for an update on progress in the Hong Kong market, the company's view on intensified competition following the Ant Group and BrightSmart Securities merger, and its future strategic focus in the region.

    Answer

    Arun Li, Head of Investor Relations, stated that in Q1, 45% of new funded accounts came from Singapore/Southeast Asia, 35% from Greater China, and 10% each from Australia/New Zealand and the U.S. Regarding Hong Kong, he asserted that increased competition validates the market's attractiveness and that Tiger's tech-driven advantages in clearing, derivatives, AI, and virtual assets create strong differentiation. He highlighted that Hong Kong users have the highest ARPU, with new Q1 clients bringing in an average of over $30,000 in assets, and the company will continue to invest in talent and marketing to gain market share.

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