UP Fintech Holding Limited to be Added to the MSCI China Small Cap Index

Rhea-AI Summary

UP Fintech Holding Limited (NASDAQ: TIGR) announced its addition to the MSCI China Small Cap Index, effective at market close on Nov 30, 2021. This inclusion acknowledges the company's expanding user base and platform capabilities, particularly appealing to global investors. The MSCI China Small Cap Index consists of 254 constituents and represents about 14% of China's market capitalization. UP Fintech's internationalization strategy, particularly since its entry into Singapore in 2020, has significantly contributed to its growth, with over 60% of new accounts from international markets.

Positive

• Inclusion in the MSCI China Small Cap Index as a recognition of company growth.
• Strong international user base with over 60% of new accounts from international markets.
• Investment in enhancing platform capabilities and global presence.

Negative

• None.

New York, Nov. 17, 2021 /PRNewswire/ -- UP Fintech Holding Limited ("UP Fintech" or the "Company") (NASDAQ: TIGR), a leading online brokerage firm focusing on global investors, today announced that the Company's stock will be added to the MSCI China Small Cap Index, effective as of market close on Nov 30, 2021.

To be added to the MSCI China Small Cap Index is a recognition of the company's growing profile and expanding user base that spans multiple international markets. Growth was driven by enhanced platform capabilities and rising demand for convenient access to global brokerage services.

According to MSCI, the MSCI China Small Cap Index is designed to measure the performance of the small cap segment of the Chinese equity market. With 254 constituents, the index represents approximately 14% of the free float-adjusted market capitalization of the China equity universe.

Founded in 2014, the Company enables global investors to trade equities in The U.S., U.K., Hong Kong, Singapore, and Australia as well as futures, options, and funds. Since entering the Singapore market in 2020, the company has leveraged its internationalization strategy to rapidly scale its client base and strengthen its global reputation. In the second quarter of this year, over 60% of the Company's newly funded accounts were derived from international markets. Going forward, UP Fintech will continue to invest in enhancing its platform capabilities and further expanding its global presence.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other statements, the business outlook and quotations from management in this announcement, as well as the Company's strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's growth strategies; trends and competition in global financial markets; the effects of the global COVID-19 pandemic; and governmental policies relating to the Company's industry and general economic conditions in China and other countries. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

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SOURCE UP Fintech Holding Limited

FAQ

What does UP Fintech's addition to the MSCI China Small Cap Index mean for investors?

The addition signifies UP Fintech's growing profile, potentially increasing its visibility and attractiveness to investors.

When will UP Fintech be added to the MSCI China Small Cap Index?

UP Fintech will be added to the index effective at market close on Nov 30, 2021.

What percentage of the market cap does the MSCI China Small Cap Index represent?

The MSCI China Small Cap Index represents approximately 14% of the free float-adjusted market capitalization of the China equity universe.

How has UP Fintech's client base changed in recent times?

Over 60% of the company's newly funded accounts in the second quarter were derived from international markets.

What strategic moves is UP Fintech making to expand globally?

The company plans to continue investing in enhancing its platform capabilities and expanding its global presence.