UP Fintech: Announces Changes to User Terminal Update Methodology for Existing Mainland Chinese Clients – Form 6-K
UP Fintech Holding Limited announces changes to the user terminal update method for existing Mainland Chinese customers
SINGAPORE, 16 May 2023 – UP Fintech Holding Limited (Nasdaq: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focused on global investors, today announced that, in response to the requirements of the China Securities Regulatory Commission , the company will change its approach to updating user terminals for existing Chinese mainland clients and will remove the app “Tiger International” from the Chinese mainland application market starting from May 18, 2023, to complete the remedial work with satisfactory results.
The company’s existing customers will be able to continue using the app and will not be affected by this change, and the company will continue to provide quality services to existing customers and protect the security of its clients’ assets. Existing Mainland Chinese clients will be provided with website links for instructions on updating and downloading the app going forward. The company stopped accepting applications from new mainland Chinese users to open accounts on December 31, 2022.
The company reiterates that this service adjustment only applies to users in Mainland China, and customers in other countries and regions around the world will not be affected in terms of downloading and using the app and enjoying the company’s services. In the future, the company will continue to provide investors with a first-class investment experience using technology in accordance with applicable national and regional regulatory requirements.
About UP Fintech Holding Limited
UP Fintech Holding Limited is a leading online brokerage firm with a focus on global investors. The company’s proprietary mobile and online trading platform enables investors to trade stocks and other financial instruments on multiple exchanges around the world. The company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The company offers clients comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP administration, investor education, community discussion and customer support. The company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearing houses.
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Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as “may,” “could,” “target,” “likely,” “will,” “expects”, “assumes”, “future”, “intends”, “plans”, “believes”, “estimates” and similar statements or expressions. Among other statements, the Company’s plans regarding
its app, its compliance with regulatory requirements and its future services contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the US 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 oral statements of its executives, directors or employees of third parties, including the Revenue Conference. 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 collaboration with Interactive Brokers LLC and Xiaomi Corporation and its affiliates; the company’s ability to effectively implement its growth strategies; trends and competition in global financial markets; changes in the Company’s revenue and certain cost or expense accounting principles; the effects of the global COVID-19 pandemic; and government policies and regulations affecting the Company’s industry and general economic conditions in China, Singapore and other countries. Additional information about these and other risks is included in the Company’s filings with the SEC, including the Company’s Annual Report on Form 20-F filed with the SEC on April 26, 2023. All information provided in this press release and in the appendices is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statements, except as required by applicable law. Additional information about these and other risks is included in the company’s filings with the SEC.
For investor and media inquiries please contact:
Investor Relations Contact
UP Fintech Holding Limited
Email: [email protected]
