Soaring stock brokers, and rising tobacco
Online brokers Futu and UP Fintech have recorded banner results, with revenue up by 75% or more for both in the fourth quarter. What's driving the growth, and is it sustainable? And the international arm of China's tobacco monopoly reported 10% revenue growth last year, even as the number of Chinese smokers fell. What's driving the increase?
BRIEF: UP Fintech’s profit surges on stock market rally
Online brokerage UP Fintech Holding Ltd. (TIGR.US) said its non-GAAP profit soared to a record $30.5 million in the fourth quarter, up from $1.1 million a year earlier, fueled by…
Waton plays up fintech transformation, though without much evidence
The online stockbroker prominently highlights its focus on fintech services as it seeks a New York IPO, but its financial results don’t quite back that up Key Takeaways: Waton is…
Futu layoffs signal new phase of consolidation after rapid expansion
The company reportedly laid off about 200 people at its main base in Shenzhen, as it prepares to be ‘relatively disciplined’ in 2025 Key Takeaways: Futu has laid off about…
Noah’s development arc takes overseas turn as life at home only gets tougher
The asset management firm’s overseas revenue growth partially offset a decline in its core domestic business in the third quarter Key Takeaways: Noah’s overseas revenue grew 29% year-on-year in the…
BRIEF: UP Fintech announces share issue plan to raise around $100 million
Online brokerage UP Fintech Holding Ltd. (TIGR.US) said on Tuesday it plans to sell up to 17.25 million new American depositary shares (ADS), in a deal that could raise more…
NEWS WRAP: UP Fintech posts strong quarterly growth, profit setback
By Teri Yu UP Fintech Holding Ltd. (TIGR.US), known for its Tiger Brokers online trading services, reported last Friday its revenue touched a new record in the second quarter, even…
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