Tiger Brokers said its operating profit rose to US$47.6 million in the three months ended March 31, while revenue climbed 26.3 per cent from a year earlier to US$154.9 million.
The growth was driven by a 536 per cent surge in Hong Kong trading activity, a record HK$543.7 billion (US$694 million) in initial public offering subscription volumes and strong net inflows from Singapore.
The robust performance came despite geopolitical volatility, expectations of higher interest rates and worries about stagflation weighing on market sentiment and trading activity, said Wu Tianhua, founder and CEO of Tiger Brokers, in a statement.
“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,” he added.
The China Securities Regulatory Commission on May 22 moved to penalise Tiger Brokers, Futu Securities International and Longbridge Securities for offering mainland Chinese investors access to overseas stocks without licences.
