Tiger Brokers posts strong Q1 profit amid regulatory scrutiny

Tiger Brokers announced robust financial results, with its operating profit jumping 17.5% year-on-year to US$47.6 million for the first quarter. Revenue saw a significant increase of 26.3%, reaching US$154.9 million in the three months ending March 31.

The company attributed its growth to a substantial 536% surge in Hong Kong trading activity. This was bolstered by record initial public offering (IPO) subscription volumes totaling HK$543.7 billion (US$694 million) and strong net inflows from Singapore. Wu Tianhua, founder and CEO of Tiger Brokers, noted the resilience of their key regional businesses, stating, "The Hong Kong market continued its solid trajectory, with client assets posting double-digit growth quarter on quarter, underscoring the resilience and sustained growth momentum of our key regional businesses."

This strong performance was achieved despite a challenging market environment marked by geopolitical volatility, anticipated interest rate hikes, and concerns about stagflation, all of which have weighed on trading activity. Notably, the company's announcement did not mention the impending penalties from China's securities regulator. The China Securities Regulatory Commission (CSRC) recently moved to penalize Tiger Brokers, along with Futu Securities International and Longbridge Securities, for allegedly providing mainland Chinese investors with access to overseas stocks without the necessary licenses.

“

The Hong Kong market continued its solid trajectory, with client assets posting double-digit growth quarter on quarter, underscoring the resilience and sustained growth momentum of our key regional businesses.